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Two suggestions. First, we keep our reserve fund in multiple CDs with rolling maturity dates. This way, each chunk can be locked up for a longer term -- so we get a somewhat higher interest rate -- but there's always a chunk of the money available every 30 days, should we need it.
Another possibility is triple-tax-free municipal bonds. These can pay as much as 3% interest (last time I checked), and the interest is completely non-taxable, so your effective yield is even higher.
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visit habitat uHabitat U: learn about how to manage a building, and what you should know as a co-op or condo board member.
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Search, by word or phrase, all magazine articles from January 2002 to present. You may print or email your results. Print subscribers receive free access to the Habitat Article Archive.
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Have you read this Habitat article?
Investing Is Easy Doing It Well Is Hard http://www.habitatmag.com/publication_content/2008_may/web_exclusive_adaptations/investing_reserve_funds May 2008 Hotline - Reserve Funds
Accumulated some extra funds? Habitat examines some ways to make use of those funds and grow them.
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