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Reply to "crash course on municipal bonds?"
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[quote=Anonymous]Thanks. Yes, my tentative plan--which I've done to the tune of about 70k so far, and may roll out much bigger--is to just buy on Schwab and build a portfolio that way. While I appreciate there is some default risk, the default rates for AA are really quite low, and the portfolio will be sufficiently diversified that a single default would not be that catastrophic. At the end of the day, I am sure investment professionals know how to pick "better" munis than I can. But is that knowledge worth ~60-ish basis points annually? Given that the topside return is 8% tax equivalent, paying 0.63 or whatever the advisor wants to charge to set up an account seems a bit steep. I just want a check to make sure I'm not a fool for thinking I can just randomly buy GO bonds and plan for it to go fine...[/quote]
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