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Finance For Dummies

Finance For Dummies offers personal finance information on investing, retirement investing, finance, insurance, credit cards, loans and more. Personal finance education is our goal.

Saturday, June 03, 2006

IRA: Tax Free Bonds and Annuity?

Never:

  1. Buy a tax free bond (e.g. municipal bond) in any retirement account. You receive no benefit from the tax-free part of the investment. If you have someone recommending this run far away from them.
  2. Buy an annuity in any retirement account. See number 1.

Word to the wise. Municipal bonds are typically a good investment for those that are in very high tax brackets because they avoid paying federal taxes (sometimes, state and local taxes as well) on the profits.

1 Comments:

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