Ep 14: Understanding The Silicon Valley Bank Collapse and FDIC Insurance
Following the collapse of Silicon Valley bank, you have probably heard a lot of talk about America’s banking situation in the last few weeks. Today, we are here to unpack what happened with the Silicon Valley Bank collapse and whether we should be concerned about other banks as well. We will also take a deeper look at banking insurance and discuss what FDIC insurance covers and what it does not cover.
Looking at these topics together will help us to unwrap what’s happening with the banking situation in the U.S. With so much buzz around this situation in the news, many of us are wondering whether another 2008 crisis is around the corner. Will the ripple effects of this event impact you directly? We are here to educate you on the facts, touch on key takeaways from this situation and hopefully alleviate some concern about what we’re seeing unfold.
Here’s some of what you will learn in this episode:
- What happened with Silicon Valley Bank? (2:04)
- Is this 2008 all over again? (9:52)
- What banking insurance protects and what its limitations are. (14:08)
- What if some of your funds aren’t covered by financial insurance? (19:47)
If you have any questions about what we discussed or anything else in your financial plan, email us at ask@bulmanwealth.com.
