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Savings question #6812385
03/22/20 08:07 AM 03/22/20 08:07 AM
Joined: Dec 2006
Posts: 1,865
Huntingdon Co. Pa.
F
forestman3 Offline OP
trapper
forestman3  Offline OP
trapper
F

Joined: Dec 2006
Posts: 1,865
Huntingdon Co. Pa.
We put some money away this winter for a building project.Moneys in a savings account at the bank.With the stock market falling would it be a good idea to pull that money out.Is it possible that when the dust settles the bank will have lost my money?
Re: Savings question [Re: forestman3] #6812394
03/22/20 08:14 AM 03/22/20 08:14 AM
Joined: Jan 2015
Posts: 3,446
Houghton Lake, MI
strike2x Offline
trapper
strike2x  Offline
trapper

Joined: Jan 2015
Posts: 3,446
Houghton Lake, MI
The bank will have your money if it is in a savings.

Wish I had more time to trap....
Re: Savings question [Re: forestman3] #6812395
03/22/20 08:16 AM 03/22/20 08:16 AM
Joined: Dec 2006
Posts: 7,181
Three Lakes,WI 72
C
corky Offline
trapper
corky  Offline
trapper
C

Joined: Dec 2006
Posts: 7,181
Three Lakes,WI 72
Unless you have more than $ 250,000 you are federally insured.
https://www.investopedia.com/terms/f/fdic-insured-account.asp

http://www.usdebtclock.org/
Re: Savings question [Re: forestman3] #6812397
03/22/20 08:17 AM 03/22/20 08:17 AM
Joined: Jan 2013
Posts: 3,112
7mtns of CENTRAL PA
GROUSEWIT Offline
trapper
GROUSEWIT  Offline
trapper

Joined: Jan 2013
Posts: 3,112
7mtns of CENTRAL PA
Nope. It's even insured in the bank and they(govt) will always bail a bank out!

NRALIFER,PRPA LIFER,HUNTER,FURTAKER
Re: Savings question [Re: forestman3] #6812398
03/22/20 08:18 AM 03/22/20 08:18 AM
Joined: Dec 2006
Posts: 1,865
Huntingdon Co. Pa.
F
forestman3 Offline OP
trapper
forestman3  Offline OP
trapper
F

Joined: Dec 2006
Posts: 1,865
Huntingdon Co. Pa.
Ok good to know.
Re: Savings question [Re: forestman3] #6812406
03/22/20 08:26 AM 03/22/20 08:26 AM
Joined: Feb 2014
Posts: 13,155
Ky
J
jbyrd63 Offline
trapper
jbyrd63  Offline
trapper
J

Joined: Feb 2014
Posts: 13,155
Ky
You do know if you with draw100 bucks and buy a used lawn mower and resale it for 150 you made more money than you will draw from the interest ???? Just a thought.
Got an uncle that became a millionaire wheeling and dealing. He said the key was to have cash in your hand when it came time to trade. Show the money get the honey !!!!
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