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Originally Posted by Sweepsplayer
First, there should be no need to risk going without FDIC insurance. There are several ways around the limit, including spreading your money across multiple banks.
Second, I would argue having $100k in savings is not necessarily a good goal. It depends on what you're saving for. If you have a particular short-term goal in mind for that money (like buying a house), that's fine. But if that money is for long-term savings, then you'll never overcome the effects of taxes and inflation.
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I am not saving for any goal in particular such as buying a car or a house. Saving 100k in 5 yrs is a goal I have so I have the
option to buy/put a down payment on a house, etc if need be. I just feel I will be free financially and have much more options than say, having 2k in the bank or having 3 months of living expenses.
But I was not planning on having it sit there until I am 75 and it's value still being the same, etc.