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Savings and intrest

Mrs. Myers Vocabulary

TermDefinition
Savings Savings-Setting aside money, often in a secure, low-risk account like a bank account, for future use.
Investment Investment-The purchase of a financial product or asset (like stocks or bonds) with the goal of generating future income or appreciation in value.
Return on investment Return on investment- (ROI) A financial metric that measures the profitability of an investment by comparing the gain or loss relative to its initial cost.
Compound interest Compound interest -Interest that is earned not only on the initial principal amount but also on the already accumulated interest, leading to exponential growth over time.
Stock Stock- A type of security that represents ownership in a corporation; common and preferred stock are specific types.
Bond Bond -A debt security where an investor loans money to an entity (corporate or government) which in turn promises to pay interest and return the principal amount at a later date.
Diversification Diversification- The strategy of spreading investments among different types of securities or asset classes (e.g., stocks, bonds, cash) to balance risk and reward.
Retirement account Retirement account- A savings plan with tax advantages designed specifically to provide income during retirement years.
Stock market Stock market-The marketplace where stocks are issued and traded, either through exchanges or over-the-counter.
Dividend .Dividend -A payment made by a corporation to its shareholders, usually as a distribution of profits.
Mutual fund .Mutual fund- A type of investment vehicle where many investors pool their money into a fund that is then invested in a variety of securities like stocks and bonds.
Common stock .Common stock- The basic form of stock that gives shareholders ownership in a company and the right to vote on corporate matters.
Preferred stock .Preferred stock- A class of stock that typically pays a fixed dividend and has priority over common stock regarding asset distribution if the company liquidates.
.Corporate bond .Corporate bond- A debt security issued by a corporation to raise capital.
Government bond .Government bond- A debt security issued by a national government to support government spending and obligations.
Investment liquidity .Investment liquidity- The ease with which an investment can be converted into cash without a significant loss in value.
Personal financial planning .Personal financial planning- The comprehensive process of planning one's spending, financing, and investing to optimize their financial situation and achieve specific financial goals.
Beneficiary .Beneficiary- A person or organization designated to receive assets, gifts, or benefits from a will, trust, or other financial account.
Executor .Executor -The person named in a will or appointed by a court to carry out the instructions of the will, manage the deceased person's estate, pay debts and taxes, and distribute assets to beneficiaries.
Trust .Trust- A legal arrangement where a person (grantor) gives a trustee the right to hold assets on behalf of a beneficiary.
Estate .Estate- An individual's total property, real and personal, including assets (cash, homes, cars) and liabilities (debts), prior to distribution through a trust or will.
Will .Will-A legal document (Last Will and Testament) that outlines how an individual's assets are distributed, and who will care for minor children after their death.
Power of attorney Power of attorney- A legal document that authorizes another person (an agent) to make decisions and act on behalf of the principal during their lifetime, especially if they become incapacitated.
Probate .Probate- The legal process through the court system for settling a deceased person's estate, confirming the will's validity, listing assets, paying debts, and distributing the remainder.
Estate planning .Estate planning- The process of designing a strategy and preparing documents (like a will or trust) to manage an individual's financial situation, minimize taxes, and arrange the transfer of assets in anticipation of incapacitation or death.
Created by: user-2002808
 

 



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