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What is a Savings Account?

A savings account is a deposit account held at a bank or other financial institution that is FDIC-insured and protects your principal while paying a modest interest rate. Savings accounts are not intended to be transactional accounts, so features...

What is the S&P 500?

The Standard & Poor's 500 Index is a basket of 500 stocks that are considered to be widely held and selected based upon their market size, liquidity, and sector. The S&P 500 Index is weighted by market value, and its performance is thought to be...

What is a Roth IRA?

A Roth IRA is a newer type of IRA, established in the Taxpayer Relief Act of 1997, which allows taxpayers, subject to certain income limits, to save for retirement while allowing the earnings to grow tax-free. Contributions are made with after-tax...

What is a Rollover?

A rollover is a tax-free reinvestment of a distribution from a qualified retirement plan into an IRA or other qualified plan within a specific time frame, usually 60 days. An individual will commonly initiate a rollover after leaving a job at an...

What is Renters Insurance?

Renters insurance is a type of home insurance that protects the holder against accidents, damages, and losses that occur in a rented residence. Renter's insurance provides coverage both for the insured's belongings and for liability that may...

What is Refinancing?

Refinancing is the process of paying off an existing loan with the proceeds from a new loan, usually of the same size, and using the same property as collateral. Refinancing can be beneficial if the savings in interest and/or reduced monthly...

What is a Recession?

A recession is a period of general economic decline that typically involves a drop in the stock market, an increase in unemployment, and a decline in the housing market. A recession is generally defined as a decline in GDP for two or more...

What is Rebalancing?

Rebalancing is the process of realigning the asset weightings in a portfolio to maintain a desired asset allocation and manage risk. For example, if your target asset allocation was 50% stocks and 50% bonds and your stocks performed well over a...

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