Ngaba Munis Ufanele?
Nangona imbono yesibambiso-ntlawulo esingenaserhafu sinokuvakala kakhulu ekuqaleni, inzuzo eyimfuneko yokuxolelwa kweerhafu ixhomekeke kulabo bakhonkqo berhafu aphezulu. Abatyalomali kwiibhanki zerhafu ezincinci banokuthi babe bhetele kwiibhanki ezihlawuliswayo kuba bavame ukuhlawula iintlawulo ezingaphezulu kweerhafu ngaphambi kobume bamasipala. Ngamanye amagama, kulabo abakwii-brackets ezantsi, inzuzo yerhafu ye-munis ayikwazi ukuba yanele ngokwaneleyo ukukhupha izivuno eziphantsi.
Indlela elula yokufumanisa ukuba yiyiphi indlela engcono yokuthatha isenzo ukubala isivuno esilingana neentlawulo (TEY) sobambiswano oluthile ngokusebenzisa le nkqubo elula:
Okokuqala, fumana uhlalutyo lwenani lakho lentlawulo usebenzisa i-equation 1 - izinga lakho lentlawulo . Ukuba uhlawula i-28%, ukulungelelanisa kuku-1 - .28, okanye .72 (72%).
Okwesibini, hlukanisa oku kwisivuno kwi-bond free-tax to find out the yield of equal tax. Ukuba ibhondi embuzweni ibangela ukuba i-4% ibonelele, i-equation yiyo: 4.0 ihlulwe ngu -72, okanye 5.56%.
Unokufunda okungakumbi malunga nale nkqubo, kunye neengcamango ezithile zokugcina ingqalelo xa uthelekisa ukugcinwa kweemali ezihlawulwe irhafu kunye nokuhlawulwa kwentela, kwinqaku lam.
I-Munis kunye nee-IRAs azikho uMxube oMnandi
Xa ubona ukuba i-munis ikulungele wena, kubalulekile ukuqwalasela uhlobo lwe-akhawunti oyisebenzisayo ukutyalomali.
Abo basebenzisa i-akhawunti ehlawulwayo baya kufumana inzuzo epheleleyo yokuxolelwa kweerhafu. Nangona kunjalo, ukusebenzisa i-akhawunti ehlawulwe irhafu efana ne- IRA okanye i-401 (k) ayinangqiqo kuba inzala yengeniso kwii-akhawunti ivele ihlawulwe irhafu. Akukho mgaqo wokulwa nokutyalomali kwi-munis kwi-akhawunti echazwe ngerhafu, kodwa ukuba umtyalo-mali unokhetho phakathi kwaloo okanye utyalo-mali nge-akhawunti ehlawulwayo, inkqubo yokugqibela yenza ingqiqo.
Ukubuyiselwa kunye neengozi zeeMali zeMasipala
Kunyaka nawuphi na unyaka, izibophelelo zikamasipala zivame ukuletha iintlawulo ezifana nezo zikhokelele kwiimarike zebhanki ebanzi-mali, nakuba kungenjalo ngokukhulu. Le tstshana ibonisa ukubuya kwe-Barclays Municipal Bond Index kunyaka ngamnye wekhalenda ukususela ngo-1991 ukuya ku-2013. I-Munis inikezele ukubuyisela okupheleleyo kwi-19 yeekhalenda ezingama-23 ezedlulileyo, elinama-17.46% aphezulu (1995), aphantsi kwe -5.17 % (1994), kunye nokubuya kweminyaka yekhalenda ye-6%.
Ukusebenza kweebhanki zikamasipala kuqhutyelwa izinto ezintathu ezibalulekileyo:
- Umngcipheko wezinga lomdla : Lo mngcipheko wokuba ukuguqulwa kwamashishini okubanzi kuya kuba nefuthe ukusebenza kwintengiso yebhanki kamasipala. Xa kuthengiswa kwiiNondyebo zase-US ziwa, njengoko zenzeke ngexesha elide le-2009-2012, luza kunceda ukudala umqolo olandelayo. (Gcinani engqondweni, amaxabiso kunye nezivuno zihamba kwindlela echaseneyo ). Ngexesha elifanayo, ixesha lokunyuka kweNondyebo livelisa - njenga- 2013 , xa i-Barclays Municipal Bond Index ibuyele kwi--2.55% - yenze iinqununu zamabhondi kamasipala.
- Umngcipheko weNgxowa-mali : Umngcipheko wemboleko yindlela indlela yokutshintsha komngcipheko ongenako ukukhutshwa ngumniki-mali unokuchaphazela ukusebenza kweebhanki. Ngokomzekelo, umasipala obona ingeniso enamandla yerhafu kufuneka abone impembelelo emihle kwintengo yayo, ngelixa enye ebonakala ngathi iyandisa ingozi yemali iya kuthinteka kakubi.
Ingozi yokuthenga ngetyala inokubandakanya impembelelo yimiba yoqoqosho ebanzi inokufumaneka kwi-creditworthiness jikelele yabanikezeli bentengiso. Ngokomzekelo, xa uqoqosho kunye nemakethe yezindlu zomeleleyo, abatyali-mali bafumana ukuzithemba ngakumbi ngokubhekiselele kumandla ophantsi kwezezimali zabaniki bomasipala. Ngokwahlukileyo, ukunyuka kwemali kunciphisa ukuzithemba kwaye kubangela ukuba abatyali-mali bafune iindleko eziphezulu (kunye namanani aphantsi). Oku kubonakala kwiibhanki zikamasipala -2.48% ukubuyela kwe-2008. Nangona i-Treasury ivunayo kwaye i-bond-bound-bond bonds yabuya malunga no-5.5%, izibophezelo zikamasipala zalahlekelwa ngumhlaba ngenxa yeengxalaba malunga nefuthe elibanzi loxinzelelo lwemali lonyaka.
- Umngcipheko wongqungquthela : Iibhondi zikaMasipala nazo zichaphazeleka ngengozi, okanye umngcipheko wokuba izinto zeendaba ziza kubangela ukuba abatyali-mali balahlekelwe ithemba. Imizekelo ibandakanyi nje ingxaki yemali ka-2008, kodwa kunye ne-Orange County yokuchithwa ngo-1994, ukubikezelwa kukaMeredith Whitney "ngotyikityo" loomasipala ngokungafezeki ngo-2010. Kodwa ke, ngokuqhelekileyo, ukuthengisa izinto ezinxulumene nomngcipheko ophezulu kukubonakalise ukunyanzela ukuthenga mathuba kunokuba siyike.
Ezi ngqwalasela zixutyushwa ngokucacileyo kwinqaku ethi " Iengozi zeebhanki zikamasipala ."
Indlela yokuTyala kwiiMali zeMasipala
Abatyalomali ngokubanzi bakhetha phakathi kweendlela ezintathu zokutyalomali kwiibhanki zikamasipala: izitokethi zomntu ngamnye, iimali ezidibeneyo, iimali ezithengiselana ngemali-mali (ETFs), okanye iimali zokuvala .
Ukutshala imali kwiimali ezizimeleyo kunokuba nzima ngabantu abaninzi. Nangona le ndlela ivulela ithuba lokufumana utyalo-mali oluthile kunye ne-trade-off ye-risk-off and risk return, le nkqubo inokuba nzima nakwabo abanalo ulwazi oluthile lohlalutyo lweebhanki. Ingozi apha kukuba umntu uya kukhetha nje ubophelelo olusekelwe kwisivuno salo , kunokubamba ngokujulile ukufumanisa isizathu sokuba isivuno salo singabi ngaphezu kwesilinganiso. Kwinqanaba elongezelelweyo, ukutshala imali kwiibhondi ezizimeleyo kunye nokubamba ukukhula kukunceda ukunciphisa umphumo wengozi yenzalo kunye nomngcipheko ochazwe ngasentla.
Ininzi iqalo kubaphathi-mali abaphakathi bathetha ukutyalomali kwiibhanki zikamasipala ngeemali ezifanayo okanye ii-ETF. Ezi mveliso zinikezela ukuhlanganiswa kolawulo lwezakhono kunye neepotifoliyo ezahlukahlukeneyo ezinokufumaneka ngotyalo-mali olulodwa. Nangona kunjalo, ubuninzi beemali abanakho usuku oluthile lokukhula. Oku kuthetha ukuba izinto ezifana nomngcipheko wezinga lomdla zingabangela ukuba ixabiso liwe kwaye lihlale liphantsi ixesha elide, kunokunyanzelisa umnini-mali ukuba angenise ilahleko ukuba kufuneka athengise i-fund.
Ngoko ke, abatyalo-mali kufuneka baqiniseke ukuba banokuthenga nokubamba i-fund ye-bond bond kamasipala ubuncinane iminyaka emithathu ngaphambi kokuthenga. Ukongezelela, iimali zebhanki zikamasipala - ngelixa zikhuselekileyo kunokuba, zithi, iimali ezibophelelweyo zentengo, izibophelelo zoshishino ezikhulayo , okanye iimpahla-akuyiyo imali efanelekileyo kumntu onomyinge osisigxina otyalo-mali okanye ukuba ukhuseleko lwenqununu lusephambili .
Uluhlu lwe-Morningstar lweemali zebhondi zikamasipala lunokufumaneka apha, kwaye unokufunda ukuhlaziywa kwee-ETF ezihlukeneyo ze-ETF apha .
Iintlawulo eziphezulu. KwiBakala loTyalo-mali
Ngelixa ibinzana elithi "izibophelelo eziphezulu" zihambelana nekontrali zenkampani, abatyali-mali banako ukutshala imali ekuthengiseni izibophelelo zikamasipala. Njengamashishini athengisa kakhulu, isivuno esiphezulu se-munis sibonakala sinomngcipheko ophezulu wesikweletu (okanye umngcipheko ophezulu wokungagqibekanga), kodwa nabo banikezela isivuno esiphezulu. Abatyalomali abanethuba elide kunye nabangakwazi ukunyamezela umngcipheko omkhulu bangasebenzisa i-munis ephezulu kakhulu njengendlela yokuphucula umvuzo emva kwentlawulo yengeniso. Funda kabanzi malunga nale nxalenye yeemakethe engabandakanyiyo .
Iintlobo zeeMali zeMasipala
Izibophezelo zikamasipala ziya kwiintlobo ezahlukeneyo, njengokuba kuchaziwe kwisahlu ngezantsi. Ukuba ungathanda ulwazi oluthe vetshe, iinqhagamshelo ekupheleni kweli candelo libonelela ngeenkcukacha ngokubhekiselele kuhlobo olulodwa lwebhondi.
- Izibondlo eziMiselweyo ngokubanzi: Ekwabizwa ngokuba yi- GO , ezi zibophelelo ezixhaswe "ukholo olupheleleyo kunye nekhredithi" yomniki-mpahla, kungekho neprojekthi ethile echongiweyo njengomthombo wemali.
- Iimali zeeNgeniso : iiBond ezixhaswe yinkokhelo eyenziwe yiprojekthi ethile exhaswa yi-bond bond.
- Amanqaku okulindela : Ibhondi ekhutshwe liziko elifuna ukuzalisekisa iimfuno zemali ezifutshane. Xa iqumrhu lifumana imali "ilindele," isebenzisa le mali ukuze ihlawule i-securities ekukhuleni.
- Iibhondi zikaMasipala eziPhindwe kwangaphambili: Ubhonkco okhuphayo umrhumo , okanye "ukubiza," kwiibhanki ngaphambi komhla wokukhula. Xa inani lamanani liwela, abathumeli bangakwazi "ukubiza" iibhondi abaye bakhupha kumazinga aphezulu ukwenzela ukunciphisa indleko yabo yemali. Emva kokuba umthengi athengise intsha entsha (ukuzithoba ezantsi), iya kusebenzisa inzuzo ukuthenga iziqinisekiso zobutyebi ezivuthiwe okanye ezikufutshane ngexesha elifanayo. Umdla osuka kwiNondyebo ngxaki uhlawula umxhesho kwibhondi ebuyiswe kubuyiselwe ngaphambi kokuba ikhule, ngelixa inqununu evela kuNondyebo ekhula ihlawula inqununu.
- Iibhondi zikaMaspala eziThusekileyo : Iibhanki zikamasipala ezikhuselweyo ziyimibandela ekhonkco ephethe i-inshurensi yabucala eqinisekisa ukuba inqununu yesibhanki kunye nenzala iya kuhlawulwa xa kwenzeka ukuba umkhupheli akakwazi ukwenza njalo.
- Yakha amabhondi aseMelika : Eyaziwa nangokuthi "i-BABs," ezi zibophezelo zikamasipala ezikhishwe ngo-Apreli 2009, ngoDisemba 2010, njengenxalenye yoMthetho Wokubuyiswa kweMelika kunye nokuThengiswa kwakhona. Ngokungafani nemveli yemveli, ingeniso ihlawulwa ngokupheleleyo kubatyalomali.
- Iibhondi eziGqabileyo : Ubhonkco osebenza kuyo ukuxhasa iiprojekthi ezinobungakanani bendalo. Imiba enxulumene nezibophelelo zinikela inxalenye yemali kwizinto ezinjalo, kodwa izibophelelo eziluhlaza zizodwa ezikhethekileyo ngokusingqongileyo.
Ukuziphendulela : Ulwazi olukule ndawo lunikezelwa ngeenjongo zengxoxo kuphela, kwaye akufanele lithathwe njengengcebiso-mali. Ngaphandle kweemeko ngaba le nkcazelo ibonisa isincomo sokuthenga okanye ukuthengisa iziqinisekiso. Soloko ubonisana nomcebisi-mali kunye neengcali zerhafu ngaphambi kokuba utyale.