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Yes, I had some muni funds in the early 80's when they were paying 11.75% but inflation was near that level too. It worked out OK for a while until the interest rates started falling and the bonds were called. I sold some above face-value and was paid out on the rest.

Part of a portfolio isn't bad but a foundation no! I have used S&P Index funds as the base with some individual stocks, money market funds, etc.

The quote indicates to the required taxes but to pay no more than that. Careful reading of the rules and claiming all deductions and exemptions that were legally available is the basis.

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