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Old 07-04-2007, 10:10 AM   #21
Dryer sheet wannabe
Join Date: Jul 2007
Location: florida Keys
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I love to hear stories like yours. You and your late husband did well. I can't give you any advice because I should be asking you for advice.

Bill T is offline   Reply With Quote
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What would you do with $650K?
Old 07-04-2007, 10:46 AM   #22
Recycles dryer sheets
Join Date: Mar 2007
Posts: 149
What would you do with $650K?

Thank you Bill - you made my day! Speaking of that - a happy 4th to you and yours.
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Old 07-04-2007, 01:54 PM   #23
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Join Date: Oct 2003
Posts: 961
Originally Posted by outtarentals View Post
Dear Clifp & ats5g,

Thanks for raising these points and playing devil's advocate -the kind of advice I was hoping for.

A little more info - my CPA told me to look for a CA tax exempt fund which DOES NOT INVEST IN PRIVATE ACTIVITY BONDS in order to avoid AMT on the proceeds. A few of his clients ran afoul of these last year and discovered that their tax exempt money market funds did not qualify for all the exemptions they had expected because they were invested in these bonds. So... that was the criteria I told Schwab I needed. I was told that there would be no fees entailed when I took the money out - but it would be tied up for 7 day periods. Also, it is insured - I will find out more on Fri when I have my appt with the local office. You can bet I will be asking all these questions! Thanks again.
Unfortunately, Vanguard and T Rowe Price don't offer MM funds that all together avoid AMT bonds. However, all [or at least most] of Vanguard's tax exempt bond funds don't include any AMT bonds. In addition, Fidelity has a plethora of state specific MM funds that don't include AMT bonds, including Fidelity California AMT Tax-Free Money Market Fund.

- Alec
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Old 07-04-2007, 09:23 PM   #24
Give me a museum and I'll fill it. (Picasso)
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Join Date: Dec 2003
Location: Losing my whump
Posts: 22,702

You could go to the dollar tree and buy EVERYTHING.
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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Tax Free Munis
Old 07-05-2007, 06:47 PM   #25
Dryer sheet wannabe
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Join Date: Jun 2007
Posts: 13
Tax Free Munis

Hi Outta,

Look at VCAIX and VCITX for CA Muni funds with exceptionally low expense ratios and virtually no AMT impact.

Glad to hear you're moving forward.
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