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Originally Posted by Ima saver
Well I had $200,000 in one local bank and $100,000 in another local bank. They both pay over 4% However, I use that money to pay for land and building materials to build spec houses. So i t makes sense to me and the almost $12,000 in interest is nice.
When i sell this house, I will probably have about $400,000 in the bank. I have decided to put some into the on line banks that pay over 5%. I will still keep quite a bit here locally, but this time I won'd put $200,000 all in one account.
I will have one joint account with $100,000 and one in just my name for $100,000. You can do that and still have fdic insurance on both accounts.
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Wow, all I have to say is, I wish I had your problems
You just went against everything everyone were saying in this post which is funny. But Keeping over 100k in the bank would get me a little nervous even if the chances of losing your money if anything happens are very slim.