7 On Your Side has some smart money tips and moves that you can make in wake of Signature and Silicon Valley Bank's collapse.
7 On Your Side's Nina Pineda has some banking tips and moves that you can make in wake of Signature and Silicon Valley Bank's recent collapse.Are you thinking about what you should do with your money in the wake of Signature and Silicon Valley Bank's collapse? 7 On Your Side has some smart money tips and moves that you can make.First, it's a good reminder to diversify your investments. Maximize what you're earning on savings, and make sure your assets are protected.
Investments in previously low-yield certificates of deposit have skyrocketed up $382 billion in just the last 9 months. That's because yields are hitting and topping 5%. "If you have more than the FDIC covered amount in a bank, especially if it's a bank that you're worried about, it's probably not a good idea to keep your money there," Kapyrin said."You don't want to follow somebody into a bunch of super risky stocks or one in particular and have concentration risk," Young said.
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