<prompt> Human: Some info. Early 30s, married, 2 kids. Earn roughly 385kyr. live in SoCal high taxes. Interested in tax free muni-bonds, particularly those located in California. Any good resources or reads people could direct me to? Pros and cons on this as an investment vehicle?  <response>: There is very little risk in these. Municipal default rates are unbelievably low, and even when they do the actual losses have historically been small. The rating systems really overstate the relative risk.I agree with the Vanguard fund as a good choice. But, interest rates are really low, so even tax free isnt much. 