Money in the Bank

If you lived through The Great Depression, you probably appreciate the FDIC.

The impression of the Great Depression has been firmly imprinted on the minds of individuals, ages 60 to 93, born 1912 to 1946. Most have vowed to themselves they would never again suffer the lack they suffered during the Great Depression. Hence, these individuals are frugal; budget conscious savers who disdain credit and speculative investments. They sought the safety of guaranteed investments and the security of insurance companies who weathered the Great Depression. With the evolution of Federal Deposit Insurance Company (FDIC), they spread their money across several banks. Although they have money in banks and stock brokerages, they do not really trust banks or stock brokerages. They trust FDIC and SIPC (Security Investor Protection Corporation).

Related Products: Visit our store

Read more from this blogger: Stop Planning for Future Retirement, Live Today In Style