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I like the idea of investing retirement money in tax-free municipal bonds, especially for someone in a high tax bracket. I have invested only in long-term bonds so far, but most articles I read recommend buying short-term and intermediate-term bonds. I guess I don't follow the logic in this, especially at a time when interest rates are higher than they have been for some time. It seems as if one would want to lock in a good rate for as long as possible.

I realize there is always the risk of interest rates rising no matter where they are, but they can also fall as well, so I still don't quite get the point of investing in the shorter term bonds. Can someone out there enlighten me on this subject?

A Fool in the making
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