Wealth Building
This term refers to the process of spreading your investments across various assets to reduce overall portfolio risk.
What is Diversification?
Any income that is not used for immediate consumption.
What are Savings?
A brief document that summarizes a person's professional qualifications, skills, and experiences, typically used to apply for jobs
The name for home loans provided by private lenders, such as banks and credit unions, that aren't backed by government agencies.
What are Conventional Mortgages?
The amount of money a policyholder is responsible for paying out-of-pocket for covered losses before their insurance coverage starts to pay.
What is an Insurance Deductible?
What you call the calculation of dividing potential reward by potential risk.
What is the Risk-Return Ratio?
A type of savings account at a bank that exists to provide a financial cushion for unexpected expenses or financial emergencies.
What is an Emergency Funds Account?
What you do with your body during an interview to project confidence and engagement.
What is Body Language?
A term used to describe a home loan where the interest rate can change periodically through the loan term.
What is an Adjustable Rate Mortgage?
A policy that covers expenses incurred after your identity has been stolen, including legal fees, identity restoration costs, and in some cases, lost wages.
What is Identity Theft Insurance?
The name used to describe raw materials being traded like stocks.
What are Commodities?
An account set up at a financial institution that allows an individual to save for retirement with tax-free growth or on a tax-deferred basis.
What is an Individual Retirement Account (IRA)?
A term to describe dressing appropriately, maintaining good posture, and showing enthusiasm during an interview.
What is Professional Demeanor?
a home loan that is insured or guaranteed by a federal agency like the Federal Housing Administration (FHA).
what is a Government-Backed Mortgage?
The time between when a covered event (like an injury or illness) happens and when the insurance policy starts paying benefits.
What is the Elimination Period?
A type of investment with an almost guaranteed return with a set amount of interest by a set date.
What are Bonds?
A type of private educational savings account that can be used for qualified education expenses, including college tuition, fees, books, and equipment.
What is a 529 Plan?
A brief, one-page, document that accompanies a resume when applying for a job.
What is a Cover Letter?
A home loan that allows homeowners aged 62 or older to borrow money against their home's equity without making monthly mortgage payments.
What is a Reverse Mortgage?
A type of permanent life insurance that provides lifelong coverage and builds cash value over time.
What is Whole-Life Insurance?
A type of investing generally designed with high liquidity for less risk.
What is Short-Term Investing?
A type of job perk offered by an employer that includes paying money into a retirement plan or continuing to pay money to the person after retirement.
What is an Employer Sponsored Retirement Plan?
The name for a thank-you note after an interview that reiterates your interest and reinforces your positive impression.
What is a Follow-up?
A type of home loan where the borrower makes low monthly payments for a set period, but then owes a large final payment.
What is a Balloon Mortgage?
A financial safeguard for employers who self-fund their employee health plans.
What is Stop-Loss Insurance?