No. of Recommendations: 2
Just a brief addendum to Russ' reply.

Be sure tax exempt bonds, even state specific ones, are really appropriate for your tax situation. The idea is to maximize returns and, since tax exempt bonds have lower yields than corporates of equivalent risk, you need to be in a high enough tax situation to make up the difference. A lot of people think saving on taxes is always a winning strategy, but it isn't.
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