Very Good Info from all of you regarding Individual Munis . Can you think of an example where Muni Bond Funds may be beneficial for clients. Say for an example a 45 yr old who has maxed out his 401k and retirement plans, and who is looking to put some additional money to work. What would you say about buying a muni bond fund and reinvesting the monthly dividends ? As opposed to say a Variable Annuity and the expense fees that come with it.