Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 11-09-2008, 12:52 PM
TaxGuru's Avatar
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 2,397
Blog Entries: 3
Good news for Savers as Congress has hiked the federal deposit insurance!

Congress has increased the amount of federal deposit insurance to $250,000 per account from $100,000 (that was the previous amount). Clearly, this is an attempt to maintain some calm and stability in financial institutions and provide some reassurance to investors, especially the savers!

However, it is worth noting that this guarantee is only there till the end of 2009!

So, savers with more than $100,000 should not panic and prematurely pull their savings out of bank accounts in case these amounts exceed $100,000!

__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.


Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 11-09-2008, 10:18 PM
Junior Member
 
Join Date: Jan 2007
Posts: 9
Great news! Finally there is some comfort in knowing that at least our Certificate of Deposits are going to be safe with the financial institutions. I have sufferred an incredible erosion in value from my 401k plan and mutual funds as well as my home value!

Thanks!



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Is purchasing an annuity in an IRA account a good investment strategy? aron IRA/Sep 1 03-14-2008 06:42 PM
Will the IRS deposit my "Tax Rebate Check directly into my Bank Account? TaxGuru For 2008 0 03-05-2008 02:33 AM
Are Life Insurance Proceeds generally subject to Federal income taxes? Edmund Life Insurance 1 08-25-2007 11:53 AM
Are Annuities a good investment? TaxGuru Investment Strategy 0 07-25-2007 02:57 AM
More Direct Deposit Options- Split Your Refund Samatg General 0 02-08-2007 07:10 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning