OT, bank account

Does your Schawb brokerage account charge a commission for either purchase or redemption of T-bills? If so, it reduces your yield.

...or have additional classes of ownership of the accounts. For example, in trust for or payable on death to a family member who is identified on the account.

From what I can tell they do not charge for t-bills or stock trades if done over your computer. I have only been with Schwab for about 1 1/2 months. They bought , merged or something with TD Ameritrade at that time.

I think that T-bills are state tax exempt, so that saves a small amount.

You can also increase coverage by titling accounts differently . Guy, guy and wife, guy and kid, other kid. But since I'm single and have no kids, maybe one of you would volunteer to do that with me.

I'd get some professional advice before trying that dodge. Who gets the

1099-INT?

OTOH, maybe I was thinking of the 1960's when the bank was giving away silver plated flatware for opening an account. They encouraged her to open multiple accounts including with me, my brother, her mother, her sister. And she got a whole set of silverware.

And gas stations were giving away drinking glasses if you got a fill-up and Welch's grape jam and jelly came in water glasses stenciled with cartoon characters although I think those were during the 1950s. My family went decades without needing to buy a glass for every day use. Eventually they all were accidentally dropped or broke some other way. We still use a lap blanket my wife got from a bank when she opened an account.

Seems many items, especially clothing, were more durable back then. In

1971 I needed to start wearing a shirt and tie every day for work. Lord and Taylor was having a sale; 6 shirts for $20! I bought six. I've continued to wear all six regularly just around the house etc. Except for sewing back buttons that occasionally fall off, they are in excellent condition. My father and I had the identical shirt size. After he died, my mother told me to take what I wanted. I took 10 short sleeve and 10 long sleeve shirts, and about 10 neckties, many of which he had purchased in the late 1940s through the late 1950s. (He was a CPA at a large accounting firm and needed to wear a suit, shirt and tie at work and had a large wardrobe.) I'm still wearing all of his shirts. They don't wear out or tear open at the seams or get thin spots etc. If I live to 120, I"ll never need to buy a shirt or a tie.

Thank you for all the interesting answers.

No one addressed my first question. I didn't think I'd find an answer online, but for lack of a better plan, I looked and indeed I found only one, but it seems to cover it:

Historical Savings Account Interest Rates Prior to 2009

During the 1980s, savings rates climbed as high as 8%. [so from 1960 or so when I started paying attention to the 1980's it was between 3 and

8%]. Deregulation caused deposit interest rates to stay higher than financial institutions could sustainably support, which contributed to banking failures during that decade. In the 1990s, savings account rates decreased significantly, typically sitting between 4% and 5%.

The 2000s kicked off with a recession, and savings rates fell to between

1% and 2%. Following the financial crisis of 2008, savings account interest rates fell to historic lows—below 0.25%.

Historical Savings Account Interest Rates Between 2009 and 2021

In the years following the Great Recession, saving rates continued to fall to historic lows. In 2009, savings rates averaged 0.21% APY but fell to 0.17% in 2010 and 0.11% in 2011. Interest declined year over year until 2013, then remained steady at 0.06% APY through 2017.

From 2018 and 2021, national average savings rates fluctuated between

0.01% to 0.10%, making savings a guaranteed financial loss. Even with the 2010s’ relatively low inflation rates of 1% to 2%, money held in savings was a depreciating asset. In 2021, inflation jumped to 4.7%, while savings account interest rates hovered between 0.06% and 0.07%. [Wow, so it's been down, down, down since the start of the 2000's and especially since 2008 continuing down to 2021, and since it's now lower that 0.06, I guess we can say through 2023. This means I've only not been paying attention for the last 20 years, not for the last, say, 50 years. I feel much better now. In fact I knew I wasn't paying attention in the last 20 years, although that was because I thought nothing would change and clearly, I was wrong about that.]

Because the Federal Reserve kept interest rates low to stimulate growth, savings rates remained at historical lows for over a decade.

Also

a little about how to get higher rates. .