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Financial Literacy in the News

Glossary of Terms

Also known as a spraying trust, this type of trust is designed so that the trustee can distribute the income or principal from the trust wherever the trustee...
A fixed income investment is one that pays a "fixed" amount of income to the investor. This typically means a bond...
This is an insurance phrase, sometimes just "BI" for short. It means injury to a third party - in other words, someone other than you. In insurance, the first party is you, the policyholder...
There are many bad financial things that can happen to you, such as having an overdraft or defaulting on a loan, but bankruptcy is probably the worst. To...
A pension plan is the general name for the administration of the pension fund that is established by either a company or a public entity to pay the pensions...
Equities are another name for stocks (but not bonds). It comes from the word equity. If you own stock in a company then...
This is the value put on property by the municipality that levies property tax. It is a value assigned for property tax purposes. All properties of a similar type in the same locality should be assessed at about the same value...
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