As such, a 20 - year municipal bond that yields 2.5 % to an investor in a 25 % tax bracket, or a 3.3 % tax - equivalent yield, would
merely keep pace with inflation through the term of the bond.
If you manage to save 35 % of your combined gross income of $ 120,000 per year, you can accumulate $ 420,000 in today's dollars, even assuming your investments
merely keep pace with inflation.