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Richland Center, Wi |
One of the hats I wear in my local church is being a member of our parish finance council. One of our tasks is to oversee the investments of the perpetual care fund for our cemetery. I have two questions which have been running through my mind lately.
1) Given the nervousness I am noting in the world financial outlook from posters on this board (and I include myself in being nervous), what would be a safe place to park our money? Right now, we have it mostly in CD's with varying maturities. Protecting the principal is a high priority...and getting some decent interest would be nice. Are there other investments we should be looking at?
2) Is there a formula that anyone is aware of to determine if the amount of perpetual care money we have is enough? Or to calculate when the money will run out? If interest rates would go back up to say, 8%, we would double our money about every 8 years. That doesn't appear to be on the near horizon. I would imagine such a formula would take into account current expenses, projected future expenses based on an inflationary rate of X%, current principal and projected future interest rates.
Thoughts appreciated.
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Investing cemetery perpetual care funds ?
