Is Vanguard any good?

Vanguard has not early redemption fee on most, if not all, of their mutual funds. Their expense ratio is probably the lowest in the industry, and I will definitely give them higher rating than some high expense firms such as Morgan Stanely Smith Barney, but there is no mutual fund companies immune to market performance and economy. What you are looking for, the short-term or high yield, is highly improbable for most average investors in this kind of current manipulated market that is due for another blow up. As for taking the money out at anytime, that is something Vanguard does offer without charging for early redemption. However, if there is any capital gains, you have to remember you can't avoiding giving your dues to the federal and your state government tax collectors.