The economy has sucker-punched my industry. But yet, I am not stressing at all. I refuse to look at my 401(k) balances. I glance at the statement every quarter, but that’s about it. I have years until I retire…at least that’s the current plan…so why look at it unless you need it in the next 5 years?

I refuse to buy into the panic. Why, what will it serve? Not that I am all ‘ignorance is bliss either’…guess I’m in the happy middle.

Great post Michael.

Funny I just got the stimulus email the other day. Where do those come from?

The FDIC insures accounts at different banks separately. For example, a person with accounts at two separate banks (not merely branches of the same bank) can keep $100,000 in each account and be insured for the total of $200,000. Also, accounts in different ownerships (such as beneficial ownership, trusts, and joint accounts) are considered separately for the $100,000 insurance limit.

- http://en.wikipedia.org/wiki/Federal_Deposit_Insurance_Corporation

move money in-between banks for FDIC protection (with a lot of hand-waving means that your deposits are protected up to $100,000 courtesy of the government)

Correct me if I’m wrong, but doesn’t the FDIC insure the $100k on a per person basis and not a per deposit basis… That is, if you have $500k deposited evenly between five different banks, you are still only FDIC insured for $100k.