A second type of bond investment that might make sense for you— especially if you’re in a high tax bracket—is tax-free municipal bonds. When you buy a muni, your interest is generally free of federal income tax, and if the bond was issued by your state of residence, you generally won’t have to pay state [...]

The main intersection in the town in which I grew up was dominated by a firehouse and three gas stations. It could have been any intersection in middle America in the mid-1960s, and my first job was pumping gas at the Mobil station.Across the street, behind the firehouse, was our town’s version of Gasoline Alley, [...]