Some investors take the attitude: "It doesn't matter. My account is protected by a government guarantee." That may be true, as of this minute.

But there's always a danger in counting too heavily on such guarantees. If the government agency that offers the guarantee finds itself overwhelmed with claims, Congress enters the equation. Ultimately, it's up to the legislative powers-that-be on the state and federal levels to vote on the taxpayer funds to bail you out. And that doesn't always happen.

So, of the guarantees floating around today, which ones can you trust?

At the top of my list is the Federal Deposit Insurance Corp. (FDIC)—the agency that insures bank deposits. Just about all Americans keep at least some money on deposit with a bank, and it's unconscionable that the U.S. Treasury wouldn't stand behind the FDIC if the insurance agency ran short of funds.

On the flipside, the guarantees covering brokerage accounts and insurance policies are murkier. Case in point: The Securities Investor Protection Corp., which insures brokerage accounts. (See also: "How to Make Your Money "Pop" Safely.")

The SIPC is funded from assessments it levies on brokers. If the next shoe to drop were to wipe out the assessment fund, the SIPC could apply to the Securities & Exchange Commission for a loan, but only up to $1 billion. Now, I'm not saying this to frighten you. The SEC requires brokers to keep investors' securities separate from the firm's, and no investor has ever lost money in a brokerage failure. But the important thing for you to remember is the SIPC's pockets aren't bottomless, so it's up to you to keep track of the fine-print guarantees. (To learn more, check out: "6 Questions to Ask Before Choosing a Broker.")

Sleep Easy

We're back to the old principle of caveat emptor—Buyer Beware. As a careful, cautious investor, where can you entrust your money?