Rex has several hundred thousand dollars to save, and he wants to keep it as safe as possible. What would you recommend Rex do to keep his money safe?

Bank deposits are protected by deposit insurance only up to a set limit per depositor at each bank. Since Rex has several hundred thousand dollars, spreading the money among several banks and keeping the amount at each within the insured limit offers better protection than putting it all in one bank, even across multiple accounts at that same bank. Keeping cash at home also leaves it vulnerable to theft or damage. The best choice is to deposit the money in several banks without putting too much in any one.

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