What happens if my bank fails?
In today’s economy, you might wonder what will happen to your money if your bank fails, or if a federal or state banking regulatory agency closes down your bank. Although bank failures are unlikely, they can occur when a bank does not have enough money to meet its obligations to all of its customers. Therefore, placing your money in a bank insured by the Federal Deposit …
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Should You Borrow Money From Your 401k?
It can be frustrating and often frightening when due to unemployment, a recession, or other factors, a person’s available cash is not enough to meet his or her obligations. Sometimes when this happens, a person does have money in his or her 401k plan that could help the person pay his or her bills. However, it is important to understand the potential penalties for borrowing or …
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