You guys are the experts. I am a newb that has been collecting points for a long time. I have 2.7 million MR points and counting (+600k more each year from the business gold card(s) for shipping and advertising). My wife does not care much for travel, and work keeps us too busy to get away very often. Solitude is more important than sight seeing. I also have a 1 million Ultimate Rewards and a few hundred thousand AA miles. I don't have big aspirational travel plans. I fly coach and wear t-shirts and would prefer to hike than go to Disneyland.
Hope to go to Hawaii next year when restrictions are less (wife is nervous about going out of the USA with the 3 children 7-12yrs)
Would like to go to DC and see the Museums and capitol.

I am concerned about the Schwab redemption reduction to 1.1 from 1.25 in September.

Should I:
Apply for the Schwab Platinum card and cash out?
Transfer to a travel partner?
Use a 3rd party like rewards2cash or whatever is around now and don't apply for the Schwab card?
any other ideas please send them....

--of course I should add some trips to the bucket list. I will get another 600k MR points next year and hopefully the world will be a little less crazy.

Does Schwab report the redemptions on a 1099?

Thank you for your help and expertise.