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37 Cards in this Set
- Front
- Back
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No-Load Mutual Fund |
Is a Type A) Fund, Mr. Call Says Do Not Invest In This. A mutual fund in which shares are sold without a commission or sales charge because there is no secondary party. |
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Net asset Value For Mutual Fund Formula |
A mutual fund's price per share or (ETF) per-share value. Current market value of the fund's assets - liabilities divided by the number of shares outstanding. |
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Load Fund |
A fund in which you have to pay a fee to buy shares. (You're paying a load to the broker, financial planner etc). |
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Municipal Bond Fund |
A tax free fund, if the city it resides in is in your state, it can be a state free tax also |
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Closed-End Fund |
A fund in which you have to buy your shares personally from someone else. The fund will not buy back shares. Shares are a fixed number
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Open-End Fund |
A fund that will buy back your shares, and issue more shares. The number of shares can differ from day to day. |
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Exchange Traded Fund |
ETF's. No management is needed for this fund, because this fund replicates the market. |
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Family Of Funds |
Many mutual funds with different purpose, that have no transfer fee. The reason you would have this is if you wanted to go back and forth between the funds. |
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12b-1 fee |
The set amount of money a mutual fund will use to advertise the fund in order to gain more customers. Not every fund does this, but it is a waste of money. |
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Contingent Deferred Sales Load Fee (Back End Load) |
If you sell a fund before the term is up, this is the fee you have to pay. The fee will depend on how long you have had the fund for. |
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Codicil |
You would use this when you need to make a change to your will, but you do not want to change the entire thing.
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Probate |
Probate court, the legal procedure to prove the validity of a will. Can be avoided if one has a living will.
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Executor Of Your Will |
The person who is in charge of your entire estate, after your death. Can be anyone, even state assigned.
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Dying Intestate |
When you die without a will |
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Keogh PLan |
A self-employment plan similar to that of a 401K. Same idea, just for those who are not employed by a business, or run their own business.
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Pension Plan Portability |
Benefits that have been paid into or accrued in an employer-sponsored plan and that can be transferred to a new employer's plan or to an individual who is leaving the workforce. |
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Defined Contribution Plan |
A retirement plan in which a certain amount or percentage of money is set aside each year by a company for the benefit of the employee. There are restrictions as to when and how you can withdraw these funds without penalties. |
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Section 403 (b) Plan |
The same idea as a 401K, except that it is sponsored by a non-profit organization. |
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Defined Benefit Plan |
A pension plan |
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Holographic Will |
A hand written will |
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Irrevocable Trust |
A trust that cannot be changed or destroyed after it has been created.
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Revocable Trust |
A trust that can be changed or destroyed after it has been made. |
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Living Trust |
Helps you avoid probate court, all assets from a living will go here.
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Testamentary Trust |
A trust established by your will when you die.
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Estate Tax |
A tax paid by the dead person to the federal government.
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Inheritance Tax |
A tax paid by the beneficiary of the dead person to the state government.
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Living Will |
A way to tell your loved ones how you want to die, whether you want to have the plug pulled on you if you're in a coma etc.
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Power Of Attorney |
A document that gives someone else the power to act on your behalf.
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Marital Share Will |
It splits the estate, 1/3 to your spouse, 2/3 to your kids. |
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Simple Will |
Gives everything to your spouse.
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True or False? The Government makes you take your money out of retirement accounts at age 70 1/2. |
True |
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True Or False? You can take money out of your retirement account at age 59 1/2. |
True |
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Why Should You invest In a Mutual Fund |
Management & Diversity |
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3 Types of Earnings From a Mutual Fund |
Capital Gains Distribution, Interest & Dividends |
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Net Worth Formula |
Assets - Liability's |
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Estate Planning |
Planning where all of your stuff will go, prior to your death. |
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401k Is a |
Individual Account Plan |
