Taxes & Investments
This tax-advantaged employer-sponsored retirement account allows you to contribute pre-tax dollars, often with an employer match.
What is a 401(k)?
Before signing an employment contract, you should carefully review this clause that restricts you from working for a competitor for a specified period.
What is a non-compete clause / agreement?
When buying a home, lenders typically require you to purchase this specific type of insurance to protect against physical damage from fire, wind, or storms.
What is homeowners insurance?
This is the fixed amount you pay out-of-pocket for medical care before your health insurance kicks in and starts paying its share.
What is a deductible?
When someone attempts to steal your sensitive data or passwords by sending emails disguised as a legitimate bank or company, it is known by this cyber-crime term.
What is phishing?
Unlike traditional retirement accounts funded with pre-tax dollars, withdrawals from this popular individual retirement account are entirely tax-free in retirement.
What is a Roth IRA?
This professional networking platform is standard for recruiting, resume hosting, and B2B connections.
What is LinkedIn?
If your monthly mortgage payment includes principal, interest, taxes, and insurance, it is commonly referred to by this acronym.
What is PITI?
This type of life insurance pays out a death benefit only if you pass away during a specified term, making it much more affordable than whole life.
What is term life insurance?
This method of account security requires two or more distinct forms of verification before granting access to an app or website.
What is Two-Factor Authentication / 2FA or MFA?
When selling an investment or a home, this specific tax is levied on the profit you made from the sale.
What is capital gains tax?
When negotiating a job offer, this term refers to the total monetary and non-monetary value of your pay, including health insurance, PTO, and bonuses.
What is a compensation package / total rewards?
This is the legal right of a landlord to enter a tenant's rented property, which usually requires a specified notice period (typically 24 to 48 hours).
What is notice of entry / right of entry?)
If you are in a car accident that is your fault, this specific part of your auto insurance policy covers the injuries and medical bills of the other driver.
What is bodily injury liability?
If your personal identity is compromised, your very first line of defense with the major credit bureaus should be to place this temporary freeze on your credit report.
What is a credit freeze?
This IRS form, sent to independent contractors and freelancers instead of a W-2, reports non-employee compensation.
What is a 1099 form?
If you are laid off from a company, this federal law allows you to temporarily continue your group health insurance coverage at your own expense.
What is COBRA?
When purchasing a home with a conventional loan, you will pay for this private insurance if your down payment is less than 20%.
What is PMI / Private Mortgage Insurance?
This legal document designates someone you trust to make medical decisions on your behalf if you become incapacitated.
What is a medical power of attorney / healthcare proxy?
This foundational piece of personal finance strategy dictates that you should keep 3 to 6 months' worth of living expenses in a liquid account.
What is an emergency fund?
This investment strategy involves spreading your money across various asset classes to minimize risk and volatility.
What is portfolio diversification?
This legal agreement protects confidential company information from being shared with outsiders or competitors.
What is a Non-Disclosure Agreement / NDA?
This critical legal document is issued by a local government agency confirming that a building is compliant with codes and safe for human occupancy after construction or renovation.
What is a certificate of occupancy?
This type of personal insurance policy provides an extra layer of liability protection above and beyond your auto and homeowners policies.
What is an umbrella insurance policy?
This mandatory annual benefit enrollment window in corporate jobs allows employees to change their health, dental, and vision insurance plans.
What is Open Enrollment?