Quote Originally Posted by 21forme View Post
"I might HAVE mentioned..." (obligated to do that as Don has given up on it )

My feathers are fine, thanks for asking.

Anyway, I have a Schwab acct as well. I keep cash in SWVXX, one of their money market funds. It is currently paying about 4.8%. I am in a premier banking program at my bank which gives me no fee accounts, free online billpay, a free safe deposit box, etc. I keep just above the minimum required (20K) to stay fee-free. It's very easy to do online transfers from Schwab and/or other online banks, as needed, to cover expenses, so there's no reason to keep extra money in a virtually zero-interest account. I generally transfer funds once or twice per month, depending how much I need for checks "written" (actually online billpay). Keeping 6 months of living expenses in a zero-interest account seems silly to me. Perhaps I have more time for this than you do, as my roof shoveling time commitment is zero.
I also have a SWVXX Schwab account. The interest rate is more like 4.48% than the 4.8% you mentioned. I plan to buy my next electric SUV with the money in this account. This account works a little different than most money market accounts. It works more like a mutual fund and might take a couple days longer to get one's money than just a plain old money market account.

Anyway, I agree it is easy to transfer money, but what you & Don are missing is if I suddenly die who is going to move the money. I want at least six months of living expenses in my checking account at all times until my kids can get a handle on the situation if something happens to me, and that requires at least $30,000. Also the ups and downs of online gambling require at least $30,000 also. However I started 2022 with under $30,000 in my gambling account.