{"id":1703,"date":"2008-03-24T08:00:55","date_gmt":"2008-03-24T15:00:55","guid":{"rendered":"http:\/\/getrichslowly.org\/blog\/2008\/03\/24\/whats-the-safest-thing-i-can-do-with-my-money\/"},"modified":"2019-12-04T23:02:50","modified_gmt":"2019-12-05T07:02:50","slug":"whats-the-safest-thing-i-can-do-with-my-money","status":"publish","type":"post","link":"https:\/\/www.getrichslowly.org\/whats-the-safest-thing-i-can-do-with-my-money\/","title":{"rendered":"What’s the safest thing I can do with my money?"},"content":{"rendered":"

“What’s the safest possible thing that I can do with my money?<\/b>” wonders Afroblanco over at Ask Metafilter<\/a>:<\/p>\n

I take bearishness<\/a> to an extreme. Having witnessed the 2000 tech crash<\/a>, I have no faith in the stock market or the US economy. I keep all of my money (USD) in a savings account. However, with the recent financial turmoil, I have a few questions:<\/p>\n

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  1. Is it conceivable for the FDIC<\/a> to fail?<\/li>\n
  2. If so, is there a place where I can put my money that will be safer than a savings account?<\/li>\n
  3. What’s the safest, most risk-free way for me to save money and not get killed by inflation and the tanking US dollar?<\/li>\n
  4. If there is a safe way for me to save money and not be punished by inflation and the depreciating dollar, is there a way that I can do this without having to stress out and micromanage my finances? I don’t want to be checking the finance page and making adjustments every day.<\/li>\n<\/ol>\n

    Even though I follow finance news, I’ve never done any investing or money management other than socking money away in my savings account. I’m a n00b<\/a>, I admit it.<\/p><\/blockquote>\n

    Afroblanco is willing to forego potential market gains so long as he does not lose money. He is risk-averse. He’s not alone. A rocky economy makes many people nervous<\/a>. You can assess your risk tolerance<\/a> with one of several online tools:<\/p>\n