By Terry Savage on June 03, 2023 | Wild Card

I listen to you every week on WGN radio and have heard you talk about how safe our money is invested in I Bonds, Treasury Bills, and insured bank deposits. Many of us have most or all of our retirement savings in accounts with Vanguard, Fidelity, and similar institutions. How safe are those accounts? I am not talking about normal changes in the markets, but the overall stability of these institutions. Can they blow up like FTX and leave us with nothing for retirement since they are not insured?

Terry Says

I’m very comfortable leaving my IRA account in all of those places. This is the last thing you should worry about. And if the “end of the world” scenario comes about, I assure you that you’ll value canned soup and toilet paper and a generator more than your account balances!



a personal
finance question