What Happened To The Banks Last Week & How Can You Be Prepared?

I’ve been getting a lot of DMs and texts asking what my thoughts are on the recent bank collapses and what I’m doing to protect my money. In this episode, I break down how the US banking system works and go over key terms, including what a run on the bank is and how it’s changed over the past century.  I explain exactly what happened with Silicon Valley Bank and what the Fed did to ensure the whole banking system didn’t collapse. Plus, I share ways to diversify your money and reduce risk going forward.    IN THIS EPISODE, WE TALK ABOUT: Why you shouldn’t panic because of the recent bank collapses  What’s protected (and what’s not) with FDIC insurance How the fractional reserve banking system works and why it fails sometimes  How social media dramatically changed the landscape of bank runs  Five ways to diversify your money    RESOURCES Text DAILY to 310-421-0416 to get daily Money Mantras or Business Perspective messages to boost your day.     CONNECT WITH CHRIS Follow Me: @chriswharder Visit My Website: https://chrisharder.me