Are our trust funds in banks safe?
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archy
Apprentice
Joined: 02 Feb 2005
Posts: 18
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 Posted: 09/10/07 - 10:35 Post subject: |
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| From the day I start working, I always pay some money in the trust fund established by my bank. Most of my colleagues do the same but I've noticed that one colleague don't. When I ask him why, hi told me that he simply didn't believe in trust funds. He rather put the money in his own bank account. From that conversation I'm in great dilemma. Are our trust funds in banks safe? Should I continue saving or not? |
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archambault
Apprentice
Joined: 27 Jun 2007
Posts: 11
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| Posted: 10/08/07 - 23:49 Post subject: |
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| Your colleague is such a pessimist. Of course, you should continue to put your money in the trust fond. But it is more wisely to divide the sum on couple of parts, and then put each part in another trust fund. So, if one of them even experience any problems that might come in the future, others will continue to function normally. So the problems with one of your funds want heart your finances very much. Naturally, the thing like that is considerably small. All the trust funds had deposits in the banks for the bad situations. Also they are all insured at insuring companies. So, as I say, feel free to continue to put the money in your trust fund or funds. You will surely be grateful to them one day. |
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