Glossary

Term of the Week: Creditworthiness

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Qualified Retirement Plan

A qualified retirement plan meets requirements of the Internal Revenue Code and is eligible to receive tax-deferred benefits.

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Qualified Tuition Program (529 Plan)

A qualified tuition program is a plan that allows early payment into an account for the purposes of higher education expenses.

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Roth IRA

A Roth IRA is an individual retirement plan in which the contributions made are not tax deductible.

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Rule of 72

Rule of 72 is a method for estimating an investment’s doubling time.

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S&P 500

The S&P 500 is an index of 500 stocks chosen due to their impact and market value in the economy.

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SEC (Securities Exchange Commission)

The SEC is a government entity used to regulate the securities market and protect investors.

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SEP IRA

A SEP IRA (Simplified Employee Pension) is a retirement plan designed for self-employed people and small business owners.

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Short Sale

A short sale refers to sale of real estate in which the proceeds are less than the amount owed on the property.

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SIMPLE IRA

A SIMPLE IRA is a Savings Incentive Match Plan For Employees.

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Social Security

Social Security is a government system that provides monetary assistance to people.

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