Quote:
Originally Posted by retiredguy123
I agree. But, it does seem to mean that you can increase your FDIC insurance from $250K to $500K or even more by opening several accounts in one bank and adding beneficiaries to the different accounts.
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It does seem that way. A single account for $250,000, a joint account for $500,000, a revocable trust with two beneficiaries for $500,000 would seem to increase your total insurance to $1.25M at that one bank.
But I agree, a cleaner method would be to spread the funds across several banks.
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