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#1
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Is it safe to have a ton of money in an ELOAN account?
yea so Ive got a ton of money in an eloan account , probably almost half of my net worth. Is this safe? Or should I maybe have other bank accounts?
I don't want to invest the money right now for various reasons. |
#2
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Re: Is it safe to have a ton of money in an ELOAN account?
I don't know anything about e loan. Is it an FDIC insured account?
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#3
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Re: Is it safe to have a ton of money in an ELOAN account?
FDIC means it is only insured up to 100k.
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#4
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Re: Is it safe to have a ton of money in an ELOAN account?
I use eloan too and supposedly it's safe up to 100k
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#5
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Re: Is it safe to have a ton of money in an ELOAN account?
if i have more than 100k in it should I put it elsewhere or is it cool?
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#6
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Re: Is it safe to have a ton of money in an ELOAN account?
[ QUOTE ]
if i have more than 100k in it should I put it elsewhere or is it cool? [/ QUOTE ] in general, unexpected events that have a large impact on your life should be avoided like the plague when you can. FDIC insurance allows for 100k. if you have 500k there, why not open 5 accounts with 100k each? (assuming you don't want to invest it for whatever reason) you don't want 1 event to hurt your life in a significant way. nobody does, but if you can prevent it with a 100% (assuming FDIC is good for it) certainty, then why not? is the cost of opening up other depository accounts that high? Barron |
#7
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Re: Is it safe to have a ton of money in an ELOAN account?
[ QUOTE ]
FDIC means it is only insured up to 100k. [/ QUOTE ] No [censored], really? I had no idea |
#8
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Re: Is it safe to have a ton of money in an ELOAN account?
Do you have it in e-loan because of the 5.25% Savings? You should have no problem finding other FDIC institutions that pay 5.5% to 6.0%
All FDIC joint accounts are insured for 200K. You can make a payable upon death accounts and name family members as the beneficiaries anytime you need 100K more. IRA accounts are a separate 100K too. Citi private banking used has a nice setup where they would spread your money between their different entities (Citibank Delaware, Citicorp Trust, 8 more...) and you can have a million insured, but they all merged and now theres only two. |
#9
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Re: Is it safe to have a ton of money in an ELOAN account?
[ QUOTE ]
Do you have it in e-loan because of the 5.25% Savings? You should have no problem finding other FDIC institutions that pay 5.5% to 6.0% [/ QUOTE ] Which one? I have only heard of up to like 5.25% |
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