The higher your individual marginal federal tax bracket, the more attractive tax-free investments might become. To realize an after-tax return equivalent to a tax-free yield of 4.0%, an individual in the 35% tax bracket would have to obtain a taxable yield of 6.2%. An investor in the 28% tax bracket would have to invest in a taxable bond yielding only 5.6% to achieve the same 4.0% after-tax yield.

Taxable Equivalent Yields

Federal Marginal Tax Brackets

		15%	25%	28%	33%	35%
Tax Free Yields	3.0%	3.5	4.0	4.2	4.5	4.6
	3.5%	4.1	4.7	4.9	5.2	5.4
	3.5%	4.1	4.7	4.9	5.2	5.4
	4.0%	4.7	5.3	5.6	6.0	6.2
	4.5%	5.3	6.0	6.3	6.7	6.9
	5.0%	5.9	6.7	6.9	7.5	7.7

The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. MassMutual, its employees, or representatives are not authorized to give legal or tax advice. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal tax or legal counsel.

Martin J. Coursey, CLU, ChFC is a registered representative of and offers securities, investment advisory, and financial planning services through MML Investors Services, LLC.. Member SIPC. (www.sipc.org)

Coursey Financial Group is not a subsidiary or affiliate of MML Investors Services, LLC..

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