Quote by Suze Orman
The chances of a bank going out of business are extremely slim, but it's always a good idea to spread around major sums so every penny is backed by insurance.
Summary
This quote emphasizes the importance of diversifying and spreading out large sums of money between multiple banks, even though the likelihood of a bank failure is very low. By doing so, every penny will be backed by insurance, ensuring that if a bank does fail, individuals do not lose all their funds. It highlights the necessity of mitigating risk and taking precautions to safeguard financial assets, even in unlikely scenarios.
Topics
Business
By Suze Orman
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