Besides a savings account, where is the safest place to keep my money?

Savings accounts are safe because investors' deposits are guaranteed by the Federal Deposit Insurance Corporation (FDIC) for bank accounts or the National Credit Union Administration (NCUA) for credit union accounts. Deposit insurance covers $250,000 per depositor, per institution, per account ownership category, so most people don't have to worry about losing their deposits if their bank or credit union becomes insolvent.Certificates of deposit (CDs) issued by banks and credit unions also carry deposit insurance.

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