'Is My Money Safe?' What 6 Advisors Are Telling Clients — Advisors' Advice

4. Consider Short-Term Treasurys

Ryan Greiser, founder, financial planner, Opulus:

I can tell you one thing for sure — your hard-earned assets need to be safe, and you need to be proactive about it.

Let’s start with FDIC insurance — it’s an absolute lifesaver in case of bank failure. You need to make sure that your deposits are within the FDIC insurance limits of $250,000 per depositor per insured bank. Don’t mess around with that!

But here’s the thing, you should consider not putting all your eggs in one basket if you’re sitting on a boatload of cash. Diversify the banks you use, spread your risk across multiple institutions, and reduce your exposure to any single bank’s potential failure. You have to be smart about it.

And lastly, let’s talk about managing your risk. I’m not saying you shouldn’t take risks, but you need to be strategic about it. Consider investing in short-term Treasurys for funds you don’t need immediate access. These are backed by the full faith and credit of the U.S. government and are a low-risk option for those looking to minimize risk.

So, there you have it, understand FDIC insurance, diversify your banks and manage your risk. It’s as simple as that! Don’t wait for another crisis to happen, be proactive about protecting your assets.