The biggest news in the financial world this month has been the failure of major banks like Silicon Valley Bank and Signature Bank. There didn’t seem to be any concerns about their stability even a few weeks ago, but things fell apart quickly.
So the obvious question is what happened and how will this impact me? In this episode, Don will provide a breakdown of what went wrong with SVB and how this might impact other banks across the country. Plus, we’ll touch on how this all relates to investing and retirement planning.
The other immediate fear that crept in after hearing about major banking issues is whether we’d see a repeat of 2008. We’ll also talk about what this has to do with that event 15 years ago and what makes a bank ‘too big too fail.’
Here’s some of what we discuss in this episode:
- A high level look at banking and investing. [4:14]
- What does the FDIC protect? [6:00]
- What exactly happened with SVB? [10:34]
- Should we worry that other banks have done something similar? [16:37]
- How does this all tie back into retirement planning? [17:51]
If you have any questions about what we discussed in this episode, please reach out and we’d be happy to provide answers.