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Fund Facts: Key Words and Tricky Phrases To Help You Bank For Your Future

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By Mia Bolaris-Forget

Now that you’ve invested in your future, or are about to, no only will you need to learn some of the key words and tricky phrases necessary for securing your marital future, but also those necessary for securing your financial future.

Here are a few budgeting and banking basics:

· Stockbroker: An individual licensed to purchase and sell stocks on your behalf at the same time earning commission on all trades.

· Financial Planner: A licensed expert who is placed in charge of managing your money and assets, and/or offering his or her (professional) advice. Generally you pay for his or her services or offer him or her a portion of your annual earnings or wealth.

· Asset Class: Generally refers to a specific type of investment group such as stocks, bonds, real estate, cash, etc.

· Diversified Portfolio: A mixed assortment of investments from a variety of asset classes.

· Mutual Fund: A fund that is the aggregate of the contribution of many shareholders. The fund is usually managed by an investment company that acquires the money by selling shares (of the company) to the public, then using the funds to invest in a variety of stocks and bonds.

· Stock Mutual Funds: Basically a mutual fund with a heavy concentration (of investments) in stocks.

· Index Fund: A type of mutual fund primarily investing in stocks that are listed in a certain index and expected to reflect its performance.

· High Yield Savings Account: A (personal) savings account that allows you to deposit monies at your bank similar to a regular savings account, but that offers a higher than average interest rate on deposits.

· IRA (Individual Retirement Account): Offers you the option of putting aside a set amount each year and that earns you interest that is tax-deferred until it is withdrawn at retirement.

· 401(k): A plan generally offered by employers allowing workers to contribute to their retirement. It allows employees to put aside a tax-deferred amount toward their retirement. Furthermore, employers also contribute by matching (all or part of) the employees’ contributions.

· Dow Jones Industrial Average: An index featuring the 30 tip earning stocks that serves as the gauge for the overall position of the stock market.

· S & P 500: An index of the top 500 performing U.S. stocking that is considered the standard for mutual funds and their investment returns.

Long Island Investment Tips Articles > Fund Facts: Key Words and Tricky Phrases To Help You Bank For Your Future

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