In fairness, that $250k is per bank, per account type, per ownership type.

Thus, if you're married and use two US banks, you could have separate $250k FDIC insurance for each of these:

- Bank 1 checking account in your name

- Bank 1 checking account in your spouse's name

- Bank 1 joint checking account

- Bank 1 savings account in your name

- Bank 1 savings account in your spouse's name

- Bank 1 joint savings account

- Bank 1 money market account in your name

- Bank 1 money market account in your spouse's name

- Bank 1 joint money market account

- Bank 2 checking account in your name

- Bank 2 checking account in your spouse's name

- Bank 2 joint checking account

- Bank 2 savings account in your name

- Bank 2 savings account in your spouse's name

- Bank 2 joint savings account

- Bank 2 money market account in your name

- Bank 2 money market account in your spouse's name

- Bank 2 joint money market account

If you count, that's $4.5 million insured by the FDIC!

However, if you're keeping $4.5 million in highly liquid accounts that earn very little, you hopefully have tens or hundredds of millions invested in higher-risk, higher-reward assets...