RE: $270 million? Damn, I could retire on that.
Heck I could retire on 5% of that.
270,000,000 worth of FL muni bonds say 3.375% due 11-1-2035 yields 3.650% if bought at approx. $96.10. That is a Taxable Equivalent yield of 5.615 , or north of 6% in the highest tax bracket.
270mm x 6% = $16,200,000.00 of tax free income a year for 20 years (that’s $1,350,000.00/mo).....and then you get your 270mm worth of bonds back if called or matures.
Hell yes you can retire on it, as long as you make good credit decisions on the issue/issuer.
You can also buy a muni bond index fund like FARSX that will diversify you.