Glossary
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- savings account
- Deposit account held at a bank that provides principal protection and a modest interest rate. Synonyms: savings accounts
- savings rate
- The percentage of your paycheck diverted directly into your retirement savings.
- securities
- An investment that has financial value, such as stocksOwnership in a part of a company where your investment sees gains or losses based on that company's performance. and bondsA loan to a company or the government for a certain period of time in exchange for interest payments..
- Social Security
- The federal benefits paid to workers during retirement if they have paid into the system during their working years.
- stocks
- Ownership in a part of a company where your investment sees gains or losses based on that company's performance.
- surrender charges
- Fees charged by an investment product for withdrawing your money early.
- systematic withdrawal plan
- A service that provides a specific payout to you on a regular basis.