1. Money

If you are new to investing, one of the things you are likely to hear about constantly is tax-free municipal bonds.  By helping your local community build a school, hospital, bridge, or other important facility, you can often escape all taxation on your bond interest income, allowing you to keep more for your own family's bank account.  It's a reward society bestows upon those who give up the opportunity to earn more money in higher returning asset classes, such as stocks or real estate.

One of the major lessons you need to learn about municipal bonds is the formula for calculating the taxable equivalent yield.  It might sound complicated but you won't use any more advanced math than you picked up in 4th grade.  See the formula ...

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