I've got a CD coming due. Even with a "rollover bonus" I'm looking at really low interest rates. I also have an extremely risk averse spouse. While the CD is a worthwhile amount of money, for sure, it's not our entire cash reserve.
I'm contemplating a phased move into Fidelity Massachusetts Municipal Income Fund(FDMMX) or the Vanguard equivalent of VMATX - 10k now to start, and more every 6 months. As a Mass resident (well, taxpayer - we just moved out of the country, which raises questions for another post), that should give us some decent, stable returns. Being largely tax free is a nice side effect, but not essential.
My questions: Anyone have any personal experience with these funds? Are there comparable funds out there with lower expenses? And most importantly, how best to sell it at home compared to the guaranteed but paltry returns from a CD or (horrors!) savings account to someone that would store it all under the mattress if it wasn't for the lumps?