The Moneyist: ‘What is a smart way to diversify?’: I don’t want to lose a lifetime of savings. Where should I put my cash?

Dear Quentin,

I am fortunate enough to have a decent amount of “cash” in the bank, and have had it all in one bank for many years. 

With the fall of Silicon Valley Bank, I need to diversify my funds. I understand that $250,000 is insured by the Federal Deposit Insurance Corporation, so I was going to move money in that amount to different banks and take advantage of some high yield, short-term CDs. The thought of managing multiple CDs at multiple banks every 6 to 9 months is not an ideal situation.

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