401(k)
a retirement account offered through an employer, where an employee can contribute money from his or her paycheck before or after taxes
Car insurance
a type of insurance that covers any damage you may cause to another person or their vehicle
Coinsurance
money that a person is required to pay for services, after a deductible has been paid
Collision insurance
a type of car insurance that covers vehicle damage caused by an accident
Comprehensive insurance
interest that's generated not only from the money you put into an account, but also from the interest you earned on your money
Deductible
amount you are personally required to pay before your insurance covers the cost
Health insurance
a type of insurance that covers the cost of medical expenses
Homeowner's insurance
a type of insurance that covers your home as well as your possessions inside, in cases of damage or loss
Investment return
is how much money you could potentially earn from an investment, and it is usually expressed as a percentage
Investment risk
is how likely it is that you'll lose money on an investment
Investment summary
the higher the risk, the higher the potential return or loss, And, the lower the risk, the lower the potential return or loss
IRA
abbreviation for an "Individual Retirement Account", a retirement account designed for individual savers that offers tax savings, but has contribution limits and withdrawal restrictions
Liability insurance
a type of car insurance that covers any damage caused to another person or their vehicle
Life insurance
a type of insurance that provides financial security for a person (called a beneficiary) when someone close to them passes away
Mutual fund
is a mix of different investments, like stocks and bonds
Premium
the amount you pay the insurance company for coverage, typically paid each month
Renter's insurance
a type of insurance that can protect a person from property damage or loss in a rental property
Stock
is a small piece of ownership in a company
Stock exchange
a place to trade stocks
Uninsured/underinsured motorist
a type of car insurance that covers any medical and repair bills if an accident occurs with another driver who does not have car insurance
Copay
a fixed fee you pay for specific medical services