5D
Divide your money among demand deposits, time deposits, and money market ETFs. All are in Risk Class 1.
Bank safe deposit box—but insured!
Bank safe deposit box—but insured!
•
11
•
5D
@Wow Well, like I said, overnight money is too risky for them because they don't trust deposit insurance. Fixed-term deposits are out because of fears of bank failures, and a swap-based money market ETF also seems too risky.
I think you’re still operating in normal mode, not paranoia mode. 😅
I think you’re still operating in normal mode, not paranoia mode. 😅
•
11
•4D
There’s one thing I still don’t understand: In what way is 1 million spread across 10 money market accounts safer than $XG01?
After all, it’s the same pool of funds that finances the deposit insurance and government bonds. And, of course, the bonds always take priority. So why choose option 2?
After all, it’s the same pool of funds that finances the deposit insurance and government bonds. And, of course, the bonds always take priority. So why choose option 2?
••
4D
@Epi No overnight deposit account. Just a regular checking account. At different banks. 100k per person per bank is insured. 1 million in the “ $XG01 ” is held in a special fund. You can access your money quickly at the bank, but it takes a little longer with the special fund… That was one of your parents’ points, too. No return, security, and quick access.
•
11
•4D
@Wow Okay, with a regular checking account, there’s effectively no interest. That’s not really the point, anyway. And selling shares on $XG01, then transferring the money to your checking account via Sofortüberweisung—the whole process takes 5 minutes at most.
I don’t quite see the advantage of having the money in the account yet...
I don’t quite see the advantage of having the money in the account yet...
••