I've been wanting to invest in another closed-end ETF since my first venture has been doing so well. I just received some information about a new IPO for a closed-end fund that looks pretty good. The goal is a 10.25% to 10.75% annual dividend payout rate, paid on a monthly basis and the second goal is capital appreciation. Gains from the first are taxed at 15% and gains from the second are taxed at one's income tax rate. To get in on the IPO I have to pay the 4.5% front end load, but after the recovery of initial cost, this investing option is much better than what I am getting in my savings account (gains are being taxed at my income tax rate). There's also the additional risk that one accepts by playing the market, but I feel a bit of confidence about this fund because dividend-paying companies are usually stable, and any particular failure will be diversified through the fund's many holdings.

At this point with the inverted yield curve (short term rates higher than long term), closed-end dividend-paying ETFs seem to be the best alternative for taxable accounts with a mid-term investment outlook of at least three years. Bonds, at least those with higher credit ratings, are not paying more than the standard risk-free rate one can get in a short-term CD.

Maybe I'm selling myself short, but if I could get an average 10% annual rate of return for the rest of my life, I'd be quite happy.