This type of insurance replaces part of a person's income when they are unable to work due to an illness or injury.
What is disability insurance?
A low-risk type of investment that allows an investor to lend money to a borrower, such as a government, municipality, or corporation
What is a bond?
A type of investment where a company pools money from multiple investors to buy multiple securities like stocks, bonds, and short-term debt to build a portfolio.
What is a mutual fund?
This refers to the yearly interest generated by a sum that's charged to borrowers or paid to investors.
What is the annual percentage rate (APR)?
These taxes are taken out of your paycheck by the federal government and used to provide income to elderly retired people.
What is Social Security?
This type of loan has no interest if paid back after a month. If you don't pay it back in a month, you pay compound interest compounded monthly.
What is a credit card loan?
These taxes are taken from your paycheck and used to pay for elderly retired people's health care.
What is Medicare?
This government agency guarantees your deposits in a bank up to $250,000.
What is the FDIC?
Your income AFTER taxes and deductions.
What is net income?