I can get a great CD rate with my bank. They are FDIC insured for $100,000 per client. How safe is it for me to invest more than $100,000 in CDs with them?
Your bank will doubtless tell you there's nothing to be concerned about, if you're dealing with most of the banks in the country. However, there's no news in the fact that there are a number of U.S. banks that may be struggling more than others, and it would be irresponsible to say, "Don't worry about it."
You can have more than $100,000 insured in one financial institution with a combination of individual and insured accounts, along with accounts held for the benefit of other family members. Your bank should be able to help you decide if that's something you can do. You can also ask if the bank has available any insurance coverage on balances over the FDIC limits. If you aren't able to use the joint account and beneficial owner insurance coverage provisions to increase your insured balances, split your funds up so that you don't have more than $100,000 deposited with any one insured institution.
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Your bank will doubtless tell you there's nothing to be concerned about, if you're dealing with most of the banks in the country. However, there's no news in the fact that there are a number of U.S. banks that may be struggling more than others, and it would be irresponsible to say, "Don't worry about it."