Sinking Funds Planner for Retirees
The bills that hurt in retirement usually aren't the monthly ones. They're the big, irregular ones: the next car, a new roof or furnace, crowns or hearing aids, the property tax bill, the insurance renewal, the trip you promised yourself. A sinking fund means setting aside a little each month for each of those so the money is there when the bill arrives. Enter what you expect each one to cost and when, and this free calculator shows the monthly set-aside for each bill and the total.
Math: (expected cost, grown by your price-growth assumption − already saved) ÷ months until due. Ignores interest earned on the savings. Every number comes from what you enter.
Get the free printable + spreadsheet
A printable worksheet and an Excel / Google Sheets planner with a monthly contribution log for each fund. Enter your email and confirm; the download is on the thanks page, along with the other RetireTally trackers. Unsubscribe anytime.
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Common irregular bills in retirement
- Car replacement. Spread the price of the next car (minus expected trade-in) over the months until you expect to buy.
- Roof, HVAC, water heater. Home systems wear out on their own schedule. A rough age and a contractor quote are a reasonable starting point.
- Dental and hearing aids. Original Medicare generally doesn't cover routine dental care or hearing aids (Medicare.gov, dental; hearing aids). Some Medicare Advantage plans offer limited extra benefits, so check your own plan.
- Property tax. If you paid off the mortgage, there's no escrow account collecting it for you anymore.
- Insurance. Annual or semiannual home and auto premiums.
- Travel and gifts. The fun things count too. Planning for them ahead makes them easier to enjoy.
Questions
What is a sinking fund?
Money you set aside on a schedule for a specific bill you know is coming. Unlike an emergency fund, you know roughly what the bill is and when it's due.
Where should the money sit?
That's a personal choice and this page doesn't recommend any account or product. Many people keep separate labeled savings accounts or track multiple funds inside one account, which the spreadsheet can help with.
How do I pick a price-growth number?
It's your assumption. Leaving it at 0 plans in today's dollars, which is simplest. Raising it shows how the set-aside changes if prices rise before you buy.
Disclaimer. RetireTally is an independent publisher and is not affiliated with any government agency. The Sinking Funds Planner is for general information and personal planning only. It is not financial, investment, tax, or legal advice, and it doesn't tell you how much you can afford to spend or save. Example amounts are illustrations, not estimates of what your bills will cost. Results are based only on what you enter.
Already signed up? Downloads: Excel / Sheets (.xlsx) · Printable PDF. Related: Retirement Budget · Medicare Costs Tracker.