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Dear Quentin,
I am fortunate enough to have a decent amount of “cash” in the bank, and have had it all in one bank for many years.
With the fall of Silicon Valley Bank, I need to diversify my funds. I understand that $250,000 is insured by the Federal Deposit Insurance Corporation, so I was going to move money in that amount to different banks and take advantage of some high yield, short-term CDs. The thought of managing multiple CDs at multiple banks every 6 to 9 months is not an ideal situation.
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