5 percent ? You are out of touch. My CDs are renewed at 4.2 percent for 5 months.the highest it has been in the past year. Was at 5 a couple years ago. Was in the under 4 percent. I use B ofA and US Bank.
Is it the best for most people probably not. And with his information given in his post he is most likely someone that has worked hard for his money that plans on staying around awhile and wants to enjoy a comfortable living for the rest of his days.