You can only put $10K per person per year into I-bonds. So even if you do that, you'd still want the money market (or something that pays more than your current accounts). Schwab checking is actually at 0.45%, but that still means you are giving up at least about $2000 per year in forgone interest on your $45K.So, currently the money is split between bank of america and schwab checking account. Earning 0.04- 0.08%,Where's the $45K cash now? If it's not earning at least close to 5%, why not move it somewhere where it will?
...
Bank money market is unlikely to come close to Vanguard's (or even Schwab, Fidelity, and other broker's money market funds).
And yes, I want to move the money to money market account.
Some of the posters are suggesting I-bond as well. But, that seems like a lot of hassle for basically not much gain above money market ? Not sure yet.
Being retired we don't have an emergency fund, but have some cash at Schwab in T-bills and also use their treasury money market fund. We also use a couple short term bond funds there.
Bank of America via a Merrill Edge brokerage account has several good options for cash:
https://olui2.fs.ml.com/publish/content ... esheet.pdf
I know some posters here use TTTXX there. It's a Treasury money market with current yield of 5.2%.
Statistics: Posted by jeffyscott — Sun Jun 02, 2024 10:05 pm