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Retirement Planning

Cost of Living Allowance (COLA)

"Welcome, students. Today, we'll be discussing the concept of Social Security benefits and its annual adjustments. As you may know, these adjustments are made to keep pace with the rising cost of living, also known as the Cost of Living Adjustment or COLA. This ensures that the benefits received by retirees and disabled individuals maintain their purchasing power over time. Let's delve deeper into this crucial aspect of the financial world."

Target Date Fund

A target date fund is a type of mutual fund that adjusts its risk level based on the investor's target date, usually their estimated retirement date. This is achieved by gra...

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Coverdell Education Savings Account

A tax-advantaged savings account, formerly known as the Education IRA, that was introduced through the Taxpayer Relief Act of 1997 for the sole purpose of covering qualified...

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Defined Benefit Plan Definition

A defined benefit plan, also known as a traditional pension plan, is a retirement plan where the employer guarantees a specific annual income for the employee based on vario...

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Employer Matching Program

One common type of employer matching program is known as "50% of the first 6%." This means that for every dollar an employee contributes to their 401(k) plan, the employer w...

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