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I have about 4 years living expenses tied up in a bond fund (VBISX)and it seems bond funds are not the right place for the money. I'm thinking of starting a 5 year bond ladder, with the first year already in a MMF. I read the bond ladder post, but I still don't know just how to do it. Can it just be as simple as calling my broker (Vanguard VBS) and telling them when I want the maturity dates and the amounts and let them have at it? Each bond would be for about 50K. I'd like to get this done before Feb. VBISX has already lost almost 2K over the last 9 months and I think the probability of interest rates going down any time soon is somewhere between zero and none. What I need is more of a blow by blow description of how to do this as I have never bought an individual bond before.

Any input on this will be appreciated. TIA

Dave in sunny AZ
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