Questions During the Economic Crisis
Is My Money Safe?
(link to moneysafe.pdf – original doc)
With all of the changes going on in our financial system, people understandably want to make sure that their money is protected. There are a number of safeguards for your money, but there are limits to the protection. This tool will walk you through how your money is protected at financial institutions, including banks, savings and loans, credit unions, brokerages and insurance. It will give you a basis idea of what questions to ask, a snapshot of your current situation, and where to go for more information:
Banks, Savings and Loan -Is my money covered by the FDIC?
(link to banksetc.pdf)
The Federal Deposit Insurance Corporation (FDIC) insures deposits are banks and savings and loans up $250,000 per individual account and per-owner for joint accounts of 2 or more persons. The FDIC will step in as temporary owner of a bank should it fail.
Credit Unions - Is my money covered by the NCUSIF?
All federal credit unions are insured by the National Credit Union Share Insurance Fund.
Brokerage – Is my brokerage covered by SIPC?
(link to Brokerage.pdf)
The Securities Investor Protection Corporation (SIPC) covers up to $500,000 for cash and securities such as mutual funds, stocks and bonds? There is a maximum of $100,000 for cash. The limits are the same for individual and joint accounts.
Insurance – Is my insurance policy protected?
(link to insurance.pdf)
The insurance industry is regulated by the states. Most states require insurance companies to participate in a state guarantee fund or association. State guarantee funds step in to pay claims in the event that an insurance company fails. Download and complete this form to determine if your insurance policy is protected by the guarantee fund.
Job Loss Help
(single pdf jobloss.pdf)
Losing a job can be a difficult experience. You will need to make important financial decisions that can impact your future financial security and make significant adjustments to your day-to-day finances. AARP can help.
Foundation information
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Download: What to do if you’ve lost your job (jobloss.pdf)
- Making the most of your employee benefits
- Getting your finances in order
- Getting extra help
- Finding a new job
(checklist.pdf) In these difficult economic times, everyone is looking for ways to cut costs and save money. AARP can help. Download this worksheet for 15 cost cutting tips that can help you save money now. Checklist for Cutting Monthly Expenses (single pdf checklist.pdf) You can also take steps to longer-term savings. Click here for 9 Longer-Term Saving tips. (stepstosaving.pdf)
