I am VERY conservative (and probably a bit paranoid). I deal directly with the Federal Reserve Bank and have for years. Right now 6 month t-bills are paying a little less than bank CDs (even considering no CA income tax on the interest) but I can keep all my cash in one place and keep reinvesting it. I just space it out evenly across the year and each month the interest is deposited directly into my checking account. I’m retired so it adds to my other monthly income of pension, social security and an annuity payment. Of course, I have a local checking account and a small savings account (about $40K) at Washington Mutual paying 5%. I sleep well each night.