I am retired and 73 years old, where can you park

[progree]

28. I haven't seen anything like 4% - 5% anywhere for a long long time, and municipal bonds are not a

guaranteed investment. They have a non-negligible default risk. There might be some with interest rates that high, but their credit ratings are very low and their maturities are very long.

And if you don't hold them to maturity, then you get what you can sell them for on the secondary market, depending on market conditions. For example, if overall interest rates go up, the market value of the bond will fall.

Here is what Fidelity has with Highest Yield selected
https://fixedincome.fidelity.com/ftgw/fi/FILanding

5 yr    10 yr    20 yr    30 yr    Type

0.86% 1.64% 2.07% 2.32%   Municipal (Aaa/AAA)
1.13% 1.95% 2.42% 2.39%   Municipal (Aa/AA)
1.18% 2.06% 2.50% 2.75%   Municipal (A/A)
1.24% 2.77% 3.00% 3.68%   Taxable Municipal*

* Taxable Municipal ratings cover a rating range from Aaa to A3 from Moody's or AAA to A- from S&P.

I only included 5 years and longer because shorter maturities have sub one percent interest rates