A crazed socialist who knows little about private sector employment because he never held a real job could be running New York City – which seems like the biggest sell signal imaginable if you’re one of those Gothamites who own « tax-free » municipal bonds issued by the Big Apple.
A crazed socialist who knows little about private sector employment because he never held a real job could be running New York City – which seems like the biggest sell signal imaginable if you’re one of those Gothamites who own “tax-free” municipal bonds issued by the Big Apple.
But there’s a good case to be made for playing an investment long game even if Zohran Mamdani becomes mayor.
Full disclosure: I hold NYC bonds, so I’ve done more than a little work on this issue. Muni’s — as they are known in the market – don’t get the respect they deserve from investment advisers because of the business media’s obsession with the stock market and the next hot tech company.
But they deserve your consideration: If you have a few bucks, they offer immense tax advantages. They are triple-tax free — free of city, state and federal taxes — when you buy a bond issued by the city or town where you live.
Given the high-taxes in New York City, and New York State, you can see why they’re a good deal. If you hold to the time they mature, you don’t have to worry about any adverse market moves. You just sit back and clip coupons.
