Question

What are some of the advantages and disadvantages of choosing a federally-insured account?

Answer 1

Answer:

Wewaii [24] 1 year ago 5 0 the advantages of the federally insured account is that - it's generally safer because it's protected by the Insurance made by the federal government, In case the account is stolen, the government would return the amount, - It's easier to make joint account if you're married. The disadvantages is that: - The interest of a federally insured account usually below the inflation rate. So technically the value of your account would reduced over time. - it has a maximum amount of $ 250,000. You can put more to the account.