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So my retirement date is creeping up on me. T-minus 5 weeks and counting. Yippee!

With the date fast approaching, I'm about to set up a Virtual Bank Savings account with an APY of 2.2% with no minimum. The thinking is: I will keep a years worth of expenses in there, and then transfer chunks to my checking account one, two, three months at a time. Any thoughts on that anyone? Good idea, Bad Idea?

-reb (Go Sox)
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No. of Recommendations: 0
With the date fast approaching, I'm about to set up a Virtual Bank Savings account with an APY of 2.2% with no minimum. The thinking is: I will keep a years worth of expenses in there, and then transfer chunks to my checking account one, two, three months at a time. Any thoughts on that anyone? Good idea, Bad Idea?

I vote for good idea. According to bankrate.com, Virtual Bank has consistently pays good yields. And the current 2.2% yield is higher than any of the closest competitors such as ING are offering.

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