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I posted this in 'investing beginners' forum as well:

Hi all...

I am trying to figure out where to stash some money we may or may not need in 5 years. Was thinking about tax advantaged MUNIs.

Obviously any investment can lose money. But what are the risks for an NJ resident when considering something like VNJTX?

Its yielding 3.53% (1/29/16 date)... I can appreciate that there is default risk... But how much of a 'loss' might I be exposed to in a fund like this in a rising rate environment?

Trying to wrap my head around this...
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