what's the #1 reason to keep your money in an insured financial institution?

The number one reason to keep your money in an insured financial institution is that your funds are protected if the bank fails. Deposits in insured banks are backed by federal insurance, such as FDIC in the United States, which guarantees up to $250,000 per depositor per bank. This protection ensures that even in the event of a bank closure or financial failure, depositors will not lose their insured money, providing safety and peace of mind.