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Once my current CD (5%) matures in a month, it will obviously yield less. That's why I'm trying to decide whether to roll it over for another year or 6 mo, move it to Vanguard TIPS fund or try municipal bonds. I realize that I won't get the tax benefit from munis, but isn't a return of 5.5% a good enough reason to get them anyway, versus the return on a CD? (Believe me, I'd actually prefer to stick with CDs because they're simple and don't require much research - I'm just trying to be clear on why I should rule out munis for now.)

Where are you going to find a quality muni bond that pays 5.5%?

Current yields for AAA muni bonds -- the only ones you should even remotely think about given your lack of any knowledge on the topic -- are paying under 5% right now.

This is an area that requires skill. Suze Orman gives too much information with too little context. I think it would be a good idea for you to ignore her until you have a lot more general understanding.

Acme
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