Lessons from Silicon Valley Bank Collapse
Investors can learn a few things from the collapse of Silicon Valley Bank (SVB).
In this video, I explain how the bank failed and what lessons we can learn, including:
Diversify your investment portfolio
Make sure your bank accounts are fully FDIC insured
FDIC Insurance
As a reminder, FDIC insures up to $250,000 per depositor, per bank, per ownership category.
In addition, your investment accounts are similarly covered by SIPC insurance.
Do you have questions about how to best manage your bank accounts? Reach out to me at Ben@coveplanning.com or schedule a free consultation call.
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Ben Smith is a fee-only financial advisor and CERTIFIED FINANCIAL PLANNER™ (CFP®) Professional with offices in Milwaukee, WI, Evanston, IL and Minneapolis, MN, serving clients virtually across the country. Cove Financial Planning provides comprehensive financial planning and investment management services to individuals and families, regardless of location, with a focus on Socially Responsible Investing (SRI).
Ben acts as a fiduciary for his clients. He does not sell financial products or take commissions. Simply put, he sits on your side of the table and always works in your best interest. Learn more how we can help you Do Well While Doing Good!
Disclaimer: This article is provided for general information and illustration purposes only. Nothing contained in the material constitutes tax advice, a recommendation for purchase or sale of any security, or investment advisory services. I encourage you to consult a financial planner, accountant, and/or legal counsel for advice specific to your situation. Reproduction of this material is prohibited without written permission from Ben Smith, and all rights are reserved. Read the full Disclaimer.