Bank Accounts – Relax, It's Retirement Podcast

Protecting Yourself from a Bank Collapse: Silicon Valley Case (Ep. 15)

By Relax It's Retirement-Podcast | May 9, 2023

After the Silicon Valley Bank’s collapse, a lot of people panicked and started doubting the stability of their own banks where they hold accounts.

What is the difference between investing in a bank and depositing in it? Are my deposits insured? What can I do if I fear that my bank will collapse?

In this episode, Josh Leonard addresses the collapse of Silicon Valley Bank, what happened, and how it affected their clients and investors. He talks about how FDIC insurance works for our deposits, and what we can do to protect ourselves if our bank fails. Additionally, Josh explains high-yield savings accounts and how they give us good returns with our unused funds.

Josh discusses:

The collapse of the Silicon Valley Bank and the factors leading to their failure
The difference between investing and depositing in a bank
How FDIC insurance can help protect your deposits
The importance of finding a diversified bank
High-yield savings accounts and some options for earning more interest on our unused money
And more!