Glossary

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.

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