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Retirement Planning

Required Beginning Date (RBD)

An important aspect of Individual Retirement Accounts (IRAs) is the Required Minimum Distribution (RMD). This refers to the deadline for IRA owners to withdraw a certain amount of funds from their account. The first RMD must be taken by April 1 of the year after the IRA owner reaches 70½ years of age. This rule ensures that individuals do not delay taking distributions from their retirement account indefinitely.

Simplified Employee Pension Plan (SEP)

Welcome to our lesson on Simplified Employee Pension (SEP) plans. These retirement plans are specifically designed for small business owners and self-employed individuals. T...

Substantially Equal Periodic Payments

One commonly used method for accessing funds from an IRA before reaching the age of 59½ is through substantially equal payments. This approach allows for penalty-free distri...

Investment Portfolio Definition

A key concept in finance is the investment portfolio, which refers to a collection of assets owned by an individual or institution. These assets can include real estate and ...

Contingent Beneficiary Definition

A contingent beneficiary is someone who is next in line to receive assets such as a life insurance policy, retirement plan, or annuity. While spouses are typically designate...

Required Minimum Distribution (RMD)

The Internal Revenue Service (IRS) requires individuals with an Individual Retirement Account (IRA) to withdraw a minimum amount each year once they reach the age of 70½. Th...

Recharacterization

One important concept to understand in finance is the ability to reverse a Roth IRA conversion or to redesignate funds between different types of plans. This allows individu...

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Fixed Income

Investments that provide regular, fixed payments, such as bonds and treasury bills.

Fixed Income Instruments

All terms related to investments like bonds or treasury bills that provide regular, fixed payments,

Property

The "Property" category in finance encompasses all aspects related to real estate and tangible asset

Market Entities

All terms related to various types of organizations or individuals, like investors, banks, insurers,

Commodity

All terms related to the basic goods used in commerce that are interchangeable with other goods of t

Public Offerings

All terms related to a company selling its shares or bonds to the public for the first time (IPOs) o

Retirement Planning

All terms and concepts related to the process of saving and investing to ensure financial security a

Taxes

All terminology and concepts related to various tax types, tax laws, and taxation principles.

Mutual Funds

All terms and concepts related to mutual funds, which are investment vehicles that pool funds from m

Currency

All terms related to the system of money in general use in a particular country, representing a medi

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