Chris Rowe

Another Reason to Trade Options

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LEARN FROM BOB'S UNEXPECTED LESSON

You don't have to let Bob's nightmare hurt your fairy tale.

If you have more than $100,000 in deposits, you absolutely must read the following to keep your deposits from disappearing:

You can actually have your deposits insured by the FDIC for up to $50 million.

Why isn't this common knowledge? Well, if I were the FDIC, I certainly wouldn't be advertising it! Not in this market, where many more bank failures are widely expected.

It seems the banks don't want to you to know about it, either, because they must pay a fee for each customer who elects to use this resource (though there is no additional charge to customers).

A contact of mine at FDIC gave me several pointers on how to maximize your deposit insurance, and I highly recommend you forward this to as many people as possible before it's too late.

Why should you, or someone you care about, literally have to pay -- with your life savings -- for millions of people with bad credit and a ton of debt who have to foreclose on their homes? Because that is exactly what's happening.

What if your bank failure puts you in the position where you then can't pay your mortgage? Does that sound fair?

2 WAYS TO PROTECT YOUR NEST EGG

There are a few ways to insure your deposits for much more than $100,000, other than banking at multiple institutions. Two of the best ways are:

1. Using something called the Promontory Interfinancial Network's CDARS (Certificate of Deposit Account Registry Service), which allow you to insure deposits up to $50 million.

2) Arranging your account structures into different "account categories" so the FDIC insures each account category separately, thus significantly increasing the amount insured.