Well, being in the Limo Business in Chicago and serving Alot of Firms adn their VIPS?
The 3 Rules:
1. Sounds like "Your the Worse Enemy to Invest your own $"...LOL... But it's true and I was also...
2. Have you studied Several of the Popular Investment Guys, Like Paul Merriman's> Fund Advice, Scott Burns> Asset Retirement and Builder.. and a few others? Do so now..not to do what they say, but to Learn all the Buzz words and The Basic's of what they're Suggesting ...
3. Then You need to go see A couple of Different Professionals... ie: Go see a couple of ChFP's And 2 Investment Firms..they will do them either for a small Fee or Free...in hopes ot get your business.. I started with my CPA Guy and his Recommendations of whome to go see...for HNW people..
4. Then you will have a much better Idea of How much you will be needing, how to get the Best Tax Advantages on your Taxable $ and What Kind of Risk you need( or not) to be taking.. You may only need a Few Bonds funds and that's it..
In the Meantime? Don't Do Nottin Honey ! LOL
PS.. They expect as many as over 25% of Muni's to Go broke and need to be bailed out..or ? And If you don't need the $ or tax shelter? Don't bother taking the risk to save a Few bucks and risk loosing it and just pay the higher Tax on the other end instead.. ( I owned Treasuries last Yr and Just Paid the IRS man on the Nice gains after making over 17% - 35% = net 11% )
This yr it's GNMA, Some Corp. Bonds, VFSTX, FFHRX & Some TIPS..
But , I'm not one of those indexers , nor a person who is a Penny wise and a Dollar Short either..I don't mind paying taxes, just as long As I make alot more than they want from me.. I'd rather make 10% and pay 35% taxes , than Make 5% tax Free..but at a higher risk..