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I would also consider recommending NJ closed end muni funds (CEFs). They trade on exchanges (thus incur brokerage fees) and can trade at premiums or discounts. The most liquid are Nuveen's NQJ and BlackRock's MUJ. MUJ's 10yr annualized NAV return is 7.51%, and its 10yr market return is 7.49%. Trading between 4% and 9% discounts they are not currently bargains. However their cheap leverage (costs less than 1%) boost the Fund's current yield to just below 6%. This is much better than both Vanguard and Fidelity, despite BlackRock and Nuveen's higher management fees. One caveat: larger investors should take note - the CEFs have limited liquidity, trading on average 20-30,000 shares/day. A sizeable transaction could impact the market share price. ------------------------------------------------------------- http://www1.blackrock.com/Default.aspx?cmty=ind&lo=9&VenueID=104&appname=wsod_profile&appURL=http://www.blackrock.wallst.com/public/fund/profile.asp?symbol=MUJ ------------------------------------------------------------- Regards, Bob Marx