So what is the best way to protect your $?

[tutall]

Every bank account is FDIC insured up to $250,000 so I'm not sure why someone wouldn't trust them. If they are looking to save money for far in the future I would get a CD or Savings bond, but the payout is nowhere near what they were 25 years ago where you could make a ton of money. Just keeping your money laying around isn't the smartest because even though interest rates are low you will lose little by little with inflation, while in a money market, CD, etc. at least you won't lose value and will actually gain some.

First off read up on the rules behind the FDIC and their payout structure... Second do you really trust the federal government to insure your money?

Third this is not good advice. Putting money in any liquid account (MM, CD, Sav) for anything longer than 6 months will cost you money. It is the only method of savings that is guaranteed to lose you money with inflation. If you have a chunk of money that is going away for anything longer than 2-3 years and you have an emergency fund in place please do yourself a favor and go find a good financial advisor and listen to what they tell you.

[Rybowski]

I make sure I have at least $1,000 at all times in my fire-proof safe for emergency reasons. Secondly, although interest rates are horrible, you can't go wrong stashing money in the bank. You at least know where it is and can access it at any time.