Should I take my money out of my bank?

The short answer is no. Most of us don't have to worry. Our money is insured by the Federal Deposit Insurance Corp. The longer answer is if you are lucky enough to have more than $100,000 in your bank or if you have a joint account with a spouse and you have more than $200,000, the excess probably won't be protected by the FDIC. Consider consider keeping only $100,000 per person in any FDIC-insured account. Just move it to another bank. You can have accounts at multiple banks and all of them will be insured.

How does this problem effect mutual funds and 529 college savings

How does the problems currently effect mutua funds and 529 college savings accounts

As a general rule, mutual funds and 529 college savings plans aren't FDIC insured.

Mutual funds (which many 529 plans are) are regulated in the U.S. by the Securities and Exchange Commission and they strive to preserve the $1 a share net asset value, meaning that investors can always get back at least their principal. In the last 40 years, only one mutual fund has ever had assets slide below $1/share and that was during the savings & loan crisis. If you're nervous about a mutual fund company in which you're invested, do check it out. Reportedly, many investors are pulling out their money and putting it in bonds.

Brokerage firm client accounts are protected by the Securities Investor Protection Corp. SIPC coverage doesn't mean that your accounts can't decline in value based on fluctuations in the stocks and bonds you hold. But it does mean that if assets are missing from your account because the broker failed, SIPC will help replace the missing stocks or bonds in your portfolio.

Is my money insured by the FDIC if it is deposited in a Savings and Loan?

I myself would, because I believe we're all going to go into a great depression...it's happened before.    Why couldn't it happen again???   Nothing can stop anything from happening...except God.    Why wouldn't it happen?     America is taking God out, and replacing it with GREED, VIOLENCE, SEX, and everything else.    This country did good for years, infact it was the best of all countries.     Then America took God out, and now things are happening to America.     What's America, when you can't have freedom of Chritianity around Chritmas time.     Think about it America.     America isn't free anymore.    When you turn your back on God, God turns his back on YOU.    Were all going to be poor, living on the streets, starving, and freezing, and being robbed of what you have left by people who are just trying to survive.      America's going down, and the only thing you can do....is PRAY.

First I would chech-out my bank to see just how strong they are. Some home town bank are much smarter than what we have seen with those that has failed. And the CEO is not raking in the millions with small home town banks and they are smarter over the years in lending practices.

I think you need to keep GOD out of your above statement. GOD has nothing to do with anything, period! Now man has everything to do with the problems man has created. Otherwise, people such as yourself should be doing very well, because you and millions of others believe in GOD. But many others such as you are still being cursed along with the rest anyway. Why is this? God made MAN and MAN created God!!!! Man made America and Man will destroy America. I do believe this county will need to rely upon a society within its borders to fixiing the problem. We need another Revolution! We are due for another one. So America get off your asses/knees and start doing something about the situation. We not God created America!!!!!!!!!!