This Might Be Your Best Defensive Financial Tool

I had never heard of a sinking fund until I served on my first Homeowner’s Association Board. The HOA set up several sinking fund accounts to deal with large and expected future expenses. One example of this was the fund that was set up to pay for the future paving of the community’s roads. In another condominium HOA board on which I served, we needed a sinking fund to pay for the replacement and repair of the elevator. Setting up a sinking fund is a long-term, defensive action protecting your savings. For retirees, this is especially important. <a href="https://medium.com/crows-feet/this-might-be-your-best-defensive-financial-tool-03ebf01cd248">Website</a>