It’s Time to Diversify You
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OT TO KEEP A NEY IN ONE P
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5 REASONS N OF YOUR MO
3. You can make sure ALL of your money is insured. The FDIC only covers up to $250,000 per depositor, per bank. So, if you have high-value accounts, depositing with multiple banks can ensure all of your money is covered. 4. The more accounts you have, the more withdrawals you can make penalty-free. Many money market and savings accounts have limits on how many times you can pull money out each month. If you bank with several institutions, you can make a few withdrawals from each of them, stay under the limits, and avoid fees. 5. You’ll have access to more banks and ATMs. Do you travel across your city, state, or the country regularly? If you do, it can be beneficial to bank with several institutions so you’re always close to an ATM or bank branch. For example, you may want to use a local credit union at home for the member benefits but bank with a national bank for out-of-state emergencies.
You’ve probably heard the expression, “Don’t put all of your eggs in one basket.” But what about “Don’t put all of your dollars in one bank”? Banking at a single institution is the default for most people, but just because something is the typical strategy doesn’t mean it’s the best one for you! Here are five reasons to consider taking the road less traveled. 1. Different banks have different perks. Credit unions are member-run nonprofits and often don’t have minimum balance requirements. Traditional banks have cutting-edge financial technology and more loan options. Some banks offer high-yield checking accounts while others don’t, and online banks can have interest rates on savings accounts up to 15 times higher than brick-and-mortars. By banking with more than one institution, you can get the best of both (or three!) worlds. 2. You’ll have a backup if one bank fails. According to Bankrate, 511 U.S. banks failed between 2009 and 2020. That’s not nothing! If your bank isn’t insured by the Federal Deposit Insurance Corp (FDIC) and it fails, you could lose your entire balance, so diversifying your accounts (or choosing only FDIC-insured banks) is a good backup measure.
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ental Market Confirms Wh
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It’s Official: A
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Obviously, for apartment property owners and investors like us who are looking to increase their holdings in apartments over the next year, this fact is VERY good news. My team and I have actually been talking about this trend in the rental market for a number of years, and I have to admit it feels good to finally have confirmation on what we have been saying all along. The truth is that our ownership society is still in flux, and it’s becoming more and more of a renter’s society every day. If you’re a paranoid investor like me and you’ve been waiting for proof of that, Harvard just handed it to you!
Investors like us always have plenty of ideas about the market, and we love to share them. Sometimes when we talk to each other, though — especially when it comes to investing — we like to know that what we’re sharing is a fact and not just an opinion. The key word here is FACT. You know as well as I do that in the investment world it is hard to really find a “sure thing.” In reality, it doesn’t exist. So, when you find a fact you can use and truly profit from, that’s obviously a good thing! This magic moment just happened for me. So, what is this big fact I’ve discovered? Well, the folks that throw their weight around at a school you may have heard of (it’s called Harvard) have just confirmed what a lot of us have known all along: The number of renters in the U.S. will continue to go up! I just finished reading the Harvard study and learning all the reasons the rental population will continue to explode, and I closed it feeling great!
So ... What will YOU do to profit from this news?
Will you use the information in Harvard’s study to better your income and net worth?
Your answer should definitely be “Yes!” Doing so is as easy as giving me a call — and that is a FACT!
Have a terrific September!
2 DARINGARMAN.COM
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