Search found 16271 matches

by grabiner
Sat Feb 13, 2016 4:17 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Buy Points?
Replies: 11
Views: 1120

Re: Should I Buy Points?

Taxable at Vanguard 11.9% Vanguard Short-Term Investment-Grade Fund Admiral Shares VFSUX 0.10% ER (approx $121,000 and unrealized loss of $1,900) 21.2% Vanguard Total Stock Market Index Fund Admiral Shares VTSAX 0.05% ER (approx $222,000 and unrealized gains of $29,000) I am buying a $340K hourse I...
by grabiner
Sat Feb 13, 2016 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: 401K VS Taxable Account - Math on Return After 30 Years
Replies: 10
Views: 542

Re: 401K VS Taxable Account - Math on Return After 30 Years

Let's say that I'm 33 years old, have $10,000 to invest, and I'm in the 25% tax bracket currently. Some assumptions that I'm going to make: 5% return every year on each fund, no annual/monthly contributions, filing as "married joint", and that tax brackets say the same in 30 years, and th...
by grabiner
Sat Feb 13, 2016 3:49 pm
Forum: Investing - Theory, News & General
Topic: VWAHX VS VWITX (AMT) [Vanguard High-Yield vs. Intermediate-Term Tax Exempt]
Replies: 1
Views: 125

Re: VWAHX VS VWITX (AMT) [Vanguard High-Yield vs. Intermediate-Term Tax Exempt]

Your Vanguard tax-exempt investments and the alternative minimum tax (AMT) is the source for AMT information. In 2015, High-Yield Tax-Exempt was 18.56% subject to AMT, and that is a typical value, so if you are in the 28% AMT bracket, you lose a bit more than 5% of the yield to taxes. The only othe...
by grabiner
Sat Feb 13, 2016 3:35 pm
Forum: Investing - Help with Personal Investments
Topic: Seeking Help moving taxable VASGX to Roth TSP
Replies: 5
Views: 331

Re: Seeking Help moving taxable VASGX to Roth TSP

Should I wait for my cost basis in my vanguard account to go back up before transferring funds from my life strategy fund to my TSP ROTH IRA or does it not really matter long term? The cost basis will never change unless you make new investments. And it's better not to wait to move money out of tax...
by grabiner
Sat Feb 13, 2016 3:32 pm
Forum: Investing - Theory, News & General
Topic: VTSAX and VTSMX different closing prices yesterday?
Replies: 7
Views: 777

Re: VTSAX and VTSMX different closing prices yesterday?

In addition to the difference in expenses between the share classes, keep in mind that the reported NAVs are rounded to two decimal places. The NAV of $45.03 to two more digits could actually be $45.0349. The NAV of $45.05 to two more digits could actually be $45.0451. Although the difference in th...
by grabiner
Sat Feb 13, 2016 3:30 pm
Forum: Investing - Help with Personal Investments
Topic: Shouldn't you have separate AA for Retirement/Non-Retirement?
Replies: 18
Views: 1161

Re: Shouldn't you have separate AA for Retirement/Non-Retirement?

Being an aviator in the military, I know I have a decent chance of staying in until 20 years, so I am saving for a downpayment for a large house around 2035. In the meantime, I'll rent, or if I know I'll be at a duty station for more than 3 years, I'll use the VA Loan. If you are in the military, y...
by grabiner
Fri Feb 12, 2016 11:44 pm
Forum: Investing - Theory, News & General
Topic: VTSAX and VTSMX different closing prices yesterday?
Replies: 7
Views: 777

Re: VTSAX and VTSMX different closing prices yesterday?

The Investor and Admiral shares of Total Stock Market started at equal prices. However, since the Admiral shares have lower expenses, they keep more of the dividends. When the March dividend is paid, the Admiral shares will pay the higher dividend and the two classes will have the same price again.
by grabiner
Fri Feb 12, 2016 11:40 pm
Forum: Investing - Theory, News & General
Topic: Rebalancing bands, what is your CURRENT out-of-balance drift?
Replies: 47
Views: 1913

Re: Rebalancing bands, what is your CURRENT out-of-balance drift?

I do an annual rebalance in January, so I am still on target. But I wouldn't be far from the target anyway, because my target is 4% net bonds (bond allocation minus mortgage); even if the stock market lost half its value, the 4% would only become 8%. And the "net" is important. If the stoc...
by grabiner
Fri Feb 12, 2016 11:31 pm
Forum: Investing - Help with Personal Investments
Topic: active funds and tax efficiency (or lack thereof)
Replies: 8
Views: 414

Re: active funds and tax efficiency (or lack thereof)

I have moved most of my actively managed portfolio to a more Vanguard Lazy Portfolio. I have a few actively managed funds left, which had a significant gain - so I left them. Since the market has come down recently the gain I have on them is now around $60k. Yes I know I paid a 5.75% front end load...
by grabiner
Fri Feb 12, 2016 11:21 pm
Forum: Investing - Help with Personal Investments
Topic: Should I TLH?
Replies: 13
Views: 456

Re: Should I TLH?

Can somebody, philosophically, explain why it does not matter going from a lower price per share fund to a higher price per share fund? Ex: If I exchange my Total Stock Market at $45 a share and buy the 500 Index at $170 a share I will obviously have less shares. Why does that not matter when excha...
by grabiner
Fri Feb 12, 2016 11:11 pm
Forum: Investing - Help with Personal Investments
Topic: Shouldn't you have separate AA for Retirement/Non-Retirement?
Replies: 18
Views: 1161

Re: Shouldn't you have separate AA for Retirement/Non-Retirement?

I read the Asset Allocation and AA in multiple accounts and I didn't find an explanation of WHY we do a total asset allocation? My only guess is tax efficiency. I think you should have a different AA for your house in 15 years (taxable), and your retirement in 40 years (tax sheltered accounts). Aft...
by grabiner
Fri Feb 12, 2016 11:08 pm
Forum: Investing - Help with Personal Investments
Topic: US law forces investors to cash ETF dividends? Non residents.?
Replies: 12
Views: 769

Re: US law forces investors to cash ETF dividends? Non residents.?

You are allowed to reinvest your dividends, but you have to pay tax on them as if you received them in cash. For example, If you own 100 shares of a mutual fund or ETF, and the fund pays a dividend of $1 per share when the share price is $25, you can reinvest the dividend and buy four more shares in...
by grabiner
Fri Feb 12, 2016 11:04 pm
Forum: Investing - Help with Personal Investments
Topic: Time to halt mortgage prepayments and invest in taxable?
Replies: 19
Views: 1655

Re: Time to halt mortgage prepayments and invest in taxable?

The equivalent rate for paying down the mortgage is actually better than the mortgage rate itself because you would pay taxes on earnings in taxable accounts, but there is no tax on money that you keep for yourself instead of paying it out as interest on a debt. You can't beat the equivalent return...
by grabiner
Fri Feb 12, 2016 10:54 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Bank Tax Issue - "Participant" vs Employer contributions
Replies: 19
Views: 960

Re: HSA Bank Tax Issue - "Participant" vs Employer contributions

Your employer is wrong and should issue a corrected W-2. Refer them to the below IRS guidance and W-2 instructions. If your employer does not provide a corrected W-2 by 02/14, you should follow the instructions and submit a complaint to the IRS for an incorrect W-2. You should then file your return...
by grabiner
Fri Feb 12, 2016 10:45 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Bank Tax Issue - "Participant" vs Employer contributions
Replies: 19
Views: 960

Re: HSA Bank Tax Issue - "Participant" vs Employer contributions

Your employer is wrong and should issue a corrected W-2. Refer them to the below IRS guidance and W-2 instructions. If your employer does not provide a corrected W-2 by 02/14, you should follow the instructions and submit a complaint to the IRS for an incorrect W-2. You should then file your return...
by grabiner
Fri Feb 12, 2016 10:35 pm
Forum: Personal Finance (Not Investing)
Topic: tax loss for tax managed balanced fund
Replies: 7
Views: 505

Re: tax loss for tax managed balanced fund

You can tax-loss harvest in any fund, although there are some special rules for municipals. If you hold a share for less than six months, you must reduce your capital loss by the amount of any tax-exempt dividends it pays. Thus, if you bought $2000 worth of TM Balanced, received $20 in taxable divi...
by grabiner
Fri Feb 12, 2016 8:21 pm
Forum: Personal Finance (Not Investing)
Topic: tax loss for tax managed balanced fund
Replies: 7
Views: 505

Re: tax loss for tax managed balanced fund

You can tax-loss harvest in any fund, although there are some special rules for municipals. If you hold a share for less than six months, you must reduce your capital loss by the amount of any tax-exempt dividends it pays. Thus, if you bought $2000 worth of TM Balanced, received $20 in taxable divi...
by grabiner
Fri Feb 12, 2016 8:05 pm
Forum: Investing - Help with Personal Investments
Topic: Time to tax loss harvest???
Replies: 11
Views: 915

Re: Time to tax loss harvest???

Here is a thread with a post by grabiner which mentions UTMA and wash sale: https://www.bogleheads.org/forum/viewtopic.php?p=2779464#p2779464 I am not the tax authority here; I just quoted the IRS. I don't see why the kids' are not doing tax-loss harvesting in their UTMAs. This would actually hurt ...
by grabiner
Fri Feb 12, 2016 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Bank Tax Issue - "Participant" vs Employer contributions
Replies: 19
Views: 960

Re: HSA Bank Tax Issue - "Participant" vs Employer contributions

Yes. The US Government works the same way, because the payment is made indirectly by the government (which pays the health insurer, which then contributes to the HSA if you are eligible). I do not believe this is correct. The employer is supposed to report employer contributions on the your W-2 box...
by grabiner
Thu Feb 11, 2016 11:50 pm
Forum: Investing - Theory, News & General
Topic: Buying the Dividend
Replies: 12
Views: 1226

Re: Buying the Dividend

That's annual so you'd divide the 2% by four. Total Stock dividends are divided pretty evenly unlike other funds. And that is low enough that it isn't worth waiting. If you plan to invest $10,000 in a fund, you expect to get a $50 dividend, which will lead to $8 in tax. Staying out of the market fo...
by grabiner
Thu Feb 11, 2016 11:45 pm
Forum: Investing - Theory, News & General
Topic: Bogleheads TLH indicator for market timing
Replies: 3
Views: 537

Re: Bogleheads TLH indicator for market timing

Past performance is not an indication of future results, and TLH articles are a measure of past performance. If the market is down 10% from its peak, most taxable investors who make regular investments have losses to harvest. TLH discussions will go away if the market rises, or even if it is flat (a...
by grabiner
Thu Feb 11, 2016 11:38 pm
Forum: Investing - Theory, News & General
Topic: Why Aren't Long Term Treasuries Recommended Instead of Total Bond Market?
Replies: 53
Views: 4237

Re: Why Aren't Long Term Treasuries Recommended Instead of Total Bond Market?

The problem with long-term Treasuries is that individual investors are not adequately rewarded for the risk. Normally, investors demand higher expected returns for higher-risk investments. However, pension funds and insurance companies have long-term fixed-dollar liabilities, and thus investing in l...
by grabiner
Thu Feb 11, 2016 11:31 pm
Forum: Investing - Help with Personal Investments
Topic: Selling ETF Using A Limit Order
Replies: 12
Views: 571

Re: Selling ETF Using A Limit Order

^Thought about that option too, but picked up the lot with a gain within the last 30 days which I believe would qualify as a wash. Let me know if I'm mistaken. Yes, this is correct. If you sell the ETF, and don't sell the lot you bought within the last 30 days, you will have a wash sale. (And as a ...
by grabiner
Thu Feb 11, 2016 11:21 pm
Forum: Investing - Help with Personal Investments
Topic: Time to tax loss harvest???
Replies: 11
Views: 915

Re: Time to tax loss harvest???

-- If I understand, I will need to wait for 30 days after my last buy-in into a fund before selling it right? Not necessarily. If sell everything, you don't have to wait to avoid a wash sale. Or even if you sell the shares you bought within the last 30 days. You might as well sell these shares even...
by grabiner
Thu Feb 11, 2016 11:19 pm
Forum: Investing - Help with Personal Investments
Topic: Tracking lots for calculating capital gains & tax harvesting
Replies: 9
Views: 428

Re: Tracking lots for calculating capital gains & tax harvesting

I use a spreadsheet, which also lists my non-covered lots, so that I can see whether any of them have losses. Vanguard gives only an average cost basis for non-covered mutual fund shares, which is not useful if you sell using specific ID.
by grabiner
Thu Feb 11, 2016 11:17 pm
Forum: Investing - Help with Personal Investments
Topic: Seeking Help moving taxable VASGX to Roth TSP
Replies: 5
Views: 331

Re: Seeking Help moving taxable VASGX to Roth TSP

2. Does is make sense to withdraw about $3000 a month from my taxable to live on for the month while I put $3000 of my paycheck into my TSP? I would do this for about 4 months until I reach the $17,500 max for the year and repeat until I empty my taxable account This almost makes sense, assuming yo...
by grabiner
Thu Feb 11, 2016 11:03 pm
Forum: Investing - Help with Personal Investments
Topic: Lump sum screws up AA
Replies: 9
Views: 601

Re: Lump sum screws up AA

This looks like a situation in which you will go past a rebalancing band, and since you can fix the issue with no tax cost, you might as well do it. With a 60/40 target, if the stock investment takes you over 65% stock, you should either sell stock to buy bonds in your 401(k) or put some of the bonu...
by grabiner
Thu Feb 11, 2016 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: HSA Bank Tax Issue - "Participant" vs Employer contributions
Replies: 19
Views: 960

Re: HSA Bank Tax Issue - "Participant" vs Employer contributions

Update: We heard back from my wife's employer. They said: "You have not contributed anything towards your HSA personally (employee contribution). [Company] contributed $2000 towards your HSA account in 2015. However, this money was not processed through your payroll, which is why it does not a...
by grabiner
Thu Feb 11, 2016 8:52 pm
Forum: Investing - Theory, News & General
Topic: Total Bond Market > Tax-Exempt Bond Fund?
Replies: 39
Views: 2311

Re: Total Bond Market > Tax-Exempt Bond Fund?

Seems to me that one should "stay the course." Ignoring today's yields, the rule of thumb should still stand, where 25% federal tax bracket or higher should be investing in municipal bonds. Correct? I don't think this is correct in the way you think. Here's why. Back several years ago the...
by grabiner
Thu Feb 11, 2016 8:47 pm
Forum: Personal Finance (Not Investing)
Topic: Trad IRA---> Roth
Replies: 37
Views: 1729

Re: Trad IRA---> Roth

So does a decreasing stock market affect whether or not he should recharacterize now? Are the contributions deductible? If they are, and have declined in value, then recharacterizing costs more than converting. If you contribute $5500 and deduct it, and the value falls to $5000, then you can conver...
by grabiner
Thu Feb 11, 2016 8:37 pm
Forum: Investing - Help with Personal Investments
Topic: Are FA fears of ETF market (SEC comments) valid?
Replies: 18
Views: 1290

Re: Are FA fears of ETF market (SEC comments) valid?

If a fund has a 0.5% management fee and a 1% 12b(1) fee (typical for C shares), your returns will be 1.5% less than the returns of the fund's investment. Unless the FA is depositing 1% of the fund value into your account, or paying you 1% of the value, then you are paying the fees. And if he is reb...
by grabiner
Wed Feb 10, 2016 11:04 pm
Forum: Investing - Theory, News & General
Topic: World stocks officially reach bear market territory
Replies: 25
Views: 3301

Re: World stocks officially reach bear market territory

Vanguard World Stock Index reached a high of 26.25 on 5/21/2015. On 2/09/2016 it reached 21.03 to (barely) hit the magic 20% loss from previous highs to qualify as a "bear" market. 80% of 26.25 is 21.00; the decline is actually 19.89%. And even with rounding, the actual loss is not 20% be...
by grabiner
Wed Feb 10, 2016 10:21 pm
Forum: Investing - Theory, News & General
Topic: Total Bond Market > Tax-Exempt Bond Fund?
Replies: 39
Views: 2311

Re: Total Bond Market > Tax-Exempt Bond Fund?

Grabiner: Thank you for your reply. For someone in the 28% income-tax bracket, in a taxable account would you recommend (taxable) Total Bond Market Index Fund or Vanguard Tax-Exempt Intermediate-Term Bond Fund (with its now lower after-tax yield)? Why? Thank you and best wishes. Taylor I think this...
by grabiner
Wed Feb 10, 2016 9:34 pm
Forum: Investing - Theory, News & General
Topic: Total Bond Market > Tax-Exempt Bond Fund?
Replies: 39
Views: 2311

Re: Total Bond Market > Tax-Exempt Bond Fund?

For someone in the 28% income-tax bracket, in a taxable account would you recommend (taxable) Total Bond Market Index Fund or Vanguard Tax-Exempt Intermediate-Term Bond Fund (with its now lower after-tax yield)? Why? Since I believe in the efficiency of the market, I would assume that bond traders ...
by grabiner
Wed Feb 10, 2016 8:58 pm
Forum: Investing - Theory, News & General
Topic: Total Bond Market > Tax-Exempt Bond Fund?
Replies: 39
Views: 2311

Re: Total Bond Market > Tax-Exempt Bond Fund?

Looking at the math, it looks like the Vanguard Intermediate-Term Tax-Exempt bond fund has a yield of 1.39%. In a 28% federal tax bracket, the equivalent is 1.93%. The Total Bond Market fund crushes that with a yield of 2.30% . But even if I do the math for a 35% tax bracket, that still only gives ...
by grabiner
Wed Feb 10, 2016 8:48 pm
Forum: Investing - Help with Personal Investments
Topic: VYM ETF
Replies: 8
Views: 485

Re: VYM ETF

VYM is perfectly good. You may not want to put all your money in it, but it's perfectly good. Slightly more risky than bonds, but long term it should slightly out-perform them. "Slightly" is a serious understatement; look at a chart. In 2007-2009, this ETF lost 55% of its value (even incl...
by grabiner
Wed Feb 10, 2016 8:44 pm
Forum: Investing - Help with Personal Investments
Topic: Tax Loss Harvesting: How do you do it in practice?
Replies: 64
Views: 6593

Re: Tax Loss Harvesting: How do you do it in practice?

Assuming the 25% fed tax bracket. Is it better to have a smaller TLH and larger QDI (assuming 2 is true), or a larger TLH and no QDI (assuming the advice in 1 is true when we want to maximize a capital loss)? Does the logic change as our tax bracket moves up/down? This depends on the benefit you wi...
by grabiner
Wed Feb 10, 2016 8:34 pm
Forum: Investing - Help with Personal Investments
Topic: Question about Vanguard frequent traders and automated investing
Replies: 12
Views: 815

Re: Question about Vanguard frequent traders and automated investing

Since this is a taxable account, you don't want to do your proposed transaction anyway, as there will be a tax cost. When you sold Total Stock Market, you presumably had a capital loss, which you will be able to deduct from your 2016 taxable income. If you buy back the fund within 30 days of selling...
by grabiner
Wed Feb 10, 2016 8:27 pm
Forum: Personal Finance (Not Investing)
Topic: Trad IRA---> Roth
Replies: 37
Views: 1729

Re: Trad IRA---> Roth

The rep is correct here. Suppose you have $5500 in your IRA already when you make a new $5500 contribution, so that you now have $11,000. The market goes up, and you have $12,000 total when you decide to recharacterize. There is no way for Vanguard to determine which dollars are new and which are o...
by grabiner
Wed Feb 10, 2016 12:10 am
Forum: Personal Finance (Not Investing)
Topic: HSA Bank Tax Issue - "Participant" vs Employer contributions
Replies: 19
Views: 960

Re: HSA Bank Tax Issue - "Participant" vs Employer contributions

If your health plan makes a contribution to the HSA, this might not make it onto your W-2 as an "employer" contribution. For example, the US government works this way, because you can sign up for a government HDHP whether or not you are eligible for an HSA. Thus the government payroll offi...
by grabiner
Wed Feb 10, 2016 12:05 am
Forum: Personal Finance (Not Investing)
Topic: Trad IRA---> Roth
Replies: 37
Views: 1729

Re: Trad IRA---> Roth

So my son called Vanguard to set up his new Roth account. That was done and rep told him he was going to process the recharacterization of the TIRA, which will fund the Roth account. Hung up. Rep calls back and says son may not get full amount put into the Roth because they must look at his other T...
by grabiner
Tue Feb 09, 2016 11:52 pm
Forum: Investing - Theory, News & General
Topic: My TLH experience with ETFs
Replies: 3
Views: 463

Re: My TLH experience with ETFs

It helps to use very liquid ETFs like those that you are using. Others using VSS are not so happy with the buy/sell spreads they see. I allow half an hour to buy and sell VSS and other high-spread ETFs. Being patient allows you to wait for the spread to narrow before trading, or put a limit order i...
by grabiner
Tue Feb 09, 2016 11:45 pm
Forum: Investing - Theory, News & General
Topic: Non deduct. IRA as emergency fund tier?
Replies: 7
Views: 497

Re: Non deduct. IRA as emergency fund tier?

While setting up my backdoor Roths, I started thinking about why non deduct. IRAs are not recommended more for fixed income/emergency funds for high income earners? You can get your original post tax contribution back at no penalty. The money grows tax deferred so there is a chance that you will pa...
by grabiner
Tue Feb 09, 2016 11:41 pm
Forum: Investing - Theory, News & General
Topic: VSS Spreads and TLH [FTSE Small Cap ex-US and Tax Loss Harvesting]
Replies: 29
Views: 1295

Re: VSS Spreads and TLH [FTSE Small Cap ex-US and Tax Loss Harvesting]

I've been looking to do some TLH on VSS (FTSE Small Cap ex-US). However, I haven't executed the trade because of both the bid ask spread and the discount to NAV. Currently the bid ask spread is about 15bps and the discount to NAV is 1%. Any ideas on both why the spread is so wide and the NAV discou...
by grabiner
Tue Feb 09, 2016 11:32 pm
Forum: Investing - Help with Personal Investments
Topic: An advantage of merging Vanguard accounts
Replies: 5
Views: 674

An advantage of merging Vanguard accounts

I merged my Vanguard mutual fund and brokerage accounts today, and noticed a minor advantage: it is now possible to sell a stock or ETF, and buy a Vanguard fund with the unsettled funds. Previously, you had to sell in the brokerage account, then wait three days for settlement, and then buy the mutua...
by grabiner
Tue Feb 09, 2016 11:21 pm
Forum: Investing - Help with Personal Investments
Topic: Are FA fears of ETF market (SEC comments) valid?
Replies: 18
Views: 1290

Re: Are FA fears of ETF market (SEC comments) valid?

Question 1) This FA put me in C class funds but also says he's paid the annual fees out of his pocket, so they don't figure in to my expenses, so the ER isn't really that high and that these funds are the exception to the rule that active management doesn't beat the market indexes. If a fund has a ...
by grabiner
Tue Feb 09, 2016 11:10 pm
Forum: Investing - Help with Personal Investments
Topic: Avoiding wash sale
Replies: 4
Views: 254

Re: Avoiding wash sale

Welcome to the forum! This would not be a wash sale. The wash sale rule says that it applies if you sell securities for a loss, and buy the same (or substantially identical) securities within 30 days as a replacement. If you sell A and buy B, and then sell B within 30 days, you can't have a replacem...
by grabiner
Tue Feb 09, 2016 11:07 pm
Forum: Investing - Help with Personal Investments
Topic: HSA investment question
Replies: 6
Views: 422

Re: HSA investment question

If you are using the HSA for current medical expenses, you should keep one year's deductible in cash, or possibly one year's out-of-pocket maximum. Beyond that, it makes sense to invest the HSA as if it were part of your IRA, since both will provide retirement income. If you aren't using the HSA for...
by grabiner
Tue Feb 09, 2016 11:05 pm
Forum: Investing - Help with Personal Investments
Topic: TLH: Just down lots or all? Does it matter?
Replies: 14
Views: 1059

Re: TLH: Just down lots or all? Does it matter?

If you are interested in getting rid of a fund, selling your entire holding for a small gain makes sense, particularly when you have losses that more than offset the gain. The simplicity may be worth more than the trivial tax cost.
by grabiner
Tue Feb 09, 2016 11:02 pm
Forum: Investing - Help with Personal Investments
Topic: Mid-seven figure portfolio--help?
Replies: 18
Views: 3277

Re: Mid-seven figure portfolio--help?

Vanguard Total Bond Index—11% Vanguard CA IT Tax-Exempt –7% What is your federal tax bracket? One of these two funds is probably wrong, but I'm not sure which one. If you are in a high bracket, you want to go all-muni. If you don't want too much in CA, you could use Limited-Term Tax-Exempt and CA L...

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