The first question you want to ask Fidelity is, "In what is
my IRA invested?"

Or check your records. Did you order that the money in the
IRA be invested strictly in a money market account? A CD?
What? Most likely, as a rolled over 401(k), it was invested
in stock mutual funds.

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On Jul 15, 12:00 pm, PeterL <po.n...[at]gmail.com> wrote:
- quote -

it's in fidelity investments. Do I get penalized or have to pay a fee
to move money out of fidelity ?

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On Jul 15, 12:00 pm, PeterL <po.n...[at]gmail.com> wrote:
- quote -

So I just talked to Fidelity Investments, they said I can move my
money into an IRA CD with them
which they said is Federally insured, so that's my plan. Right now, my
IRA is not federally insured.
I set up an appointment next week to meet with them.

I had put $15,000 into gold last May and it has gone up $700, alot of
my other stuff has gone down.

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"Larz" <wbsurfver[at]gmail.com> wrote in message
news:79705e15-5687-45c6-b6f1-aa3a69913e32[at]l42g2000hsc.googlegroups.com...

- quote -

I think the answer is yes, so long as the accounts are in different banks.

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Larz <wbsurfver[at]gmail.com> writes:

- quote -

You can buy federally insured CDs, or you can buy Treasury bonds,
including TIPs (the Treasury Inflation Protected bonds - which
actually should *only* be purchased in a tax-deferred or tax-free
account).

Whether you want to or not, only you can know. But all those
"safe" securities have the tradeoff that with safety comes
much lower long-term returns. A retirement portfolio for
generally needs something which will grow faster than that,
unless it's a really huge portfolio to begin with.

Anyway, even inside that Fidelity account, you can buy
CDs from multiple banks and easily spread it out so that
no single bank has more than the FDIC limit worth of your
money.

- quote -

FDIC insures up to $100,000 per category of account per
per bank (ie. you, your wife and a third account which
is you and your wife jointly may all be $100,000 each),
and up to $250,000 per qualifying retirement acounts
(ie. IRAs go up to $250,000).

Note that if you have a brokerage CD and there's a
failure at the bank, the FDIC insurance handles the
claim a little differently than if you have a CD
held directly at that bank. http://www.fdic.gov
offers some details about directly held assets (ie. in
the case of IndyMac, all non-brokered deposits
have been transferred to a newly chartered full-service
bank called, unsurprisingly, IndyMac Federal Bank.
Brokered deposits are being handled separately and
it'd be up to your broker to handle much of it as
far as I can tell.

http://www.fdic.gov/bank/individual/failed/IndyMac.html


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On Jul 15, 5:11*am, Larz <wbsurf...[at]gmail.com> wrote:
- quote -

The Wall Street Journal had an article on this yesterday:

What FDIC Covers On Bank Accounts
By SHELLY BANJO
July 14, 2008; Page A13

Q: What do depositors do if they have more than $100,000 they need to
put in the bank?

A: One way to protect the money is to hold accounts under that sum at
a few separate banks. For those wanting to keep money at the same
institution, perhaps for convenience's sake, a sound strategy is to
open different accounts.

For instance, a married couple could each open an individual account
(up to $100,000 in each), a joint account (up to $200,000), two
separate individual retirement accounts ($250,000 each) and two
revocable trust accounts, payable on death, naming each other as
beneficiaries ($100,000 each). Together that is more than $1 million
of insured deposits.

Also, they could set up additional revocable trusts insured up to
$100,000 for other qualified beneficiaries such as parents, siblings,
children and grandchildren.

Q: Are there any pitfalls to this multiple-account, single-bank
approach?

A: Depositors should make sure their accounts are properly titled at
the bank. Bank employees may not always know the correct distinctions.

Because of misinformation from Countrywide Financial Corp., "I had
$100,000 in funds uninsured for a considerable amount of time," says
Scott Marberblatt of Swampscott, Mass. He held $100,000 in a
certificate of deposit and put $100,000 in a savings account with two
beneficiaries. But the bank did not properly title the savings account
with the words "In Trust For," so the second $100,000 went uninsured.

If Countrywide had failed -- it ended up being acquired by much
stronger Bank of America Corp. -- then he would have had a problem.

To verify all accounts are FDIC-insured, contact the FDIC consumer hot
line at 1-877-275-3342 or use the deposit insurance calculator at
www.fdic.gov.

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On Jul 15, 2:11*am, Larz <wbsurf...[at]gmail.com> wrote:
- quote -

Is it in Fidelity investment or Fidelity bank? You can certainly roll
it into a bank IRA, which will be federally insured.

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I have an IRA worth about with fidelity in Boston. Originally it was
a 401k that
I rolled into an IRA after being laid off. I want to know if it can be
federally insured or if I want it to
be federally insured, should I transfer it to a different bank ?

I have another account in a different bank.

Another question is, If I have more than 100k, but in different bank
accounts, will the government insure both accounts ?

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