My 86 year old father has $150,000 invested in Franklin AZ Municipal Tax Free Bonds at present. We are trying to decide if it's worth the effort and money to move this money into a government bond fund. The fund that we're thinking of is through JPMorgan/Chase has a 3.25% fee to buy into it and an annual operating expense of .75. He plans to take the interest from the bond (listed as 4.16 yield) fund each month as income. My question is...in this economic environment are the current municipal tax-free bonds too risky to stay in? (I'm sure he already paid a fee to get into them and he's surely paying a yearly management fee) And is the JPM Gov't Bond Fund risk free enough to pay $4800 initially and $1100 a year for management fees? What do you think?
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