Note: This is an excerpt from an email that I sent to my clients in September 2008. I post it now as a blog for the simple reason that periodic checks on where you store your money is a prudent thing to do.
This post is NOT intended to scare you or entice a run on the banks. Rather it is some common sense advice based on the adage: An ounce of prevention is worth a pound of cure.
Recently, a market technician that I use suggested that people should check the health of their banks. Since I agree, I am providing you a link to his step-by-step instructions.
And while he uses some strong language, I want to reiterate: Do NOT go into hysterics! I just think that prudence dictates that we seek the best places to store our wealth and if our current location does not measure up, we need to know that and take corrective action.
Of course, things change over time so you might want to set up a reminder to do this once or twice a year. Or, you might also consider putting your wealth in the best place to store money, which I have chronicled here before.