An account owned by one person for their sole benefit. The account can trade in almost any type of investment instrument if qualified.
Accounts jointly owned by two or more people. Ownership, authority, and responsibility for the account are equal.
An account opened and managed by an adult for the benefit of a minor. The minor assumes control of the account upon adulthood in the state of residence or later if designated upon opening. Please note this is an irrevocable gift to the minor.
A way of designing beneficiaries to receive your assets at the time of your death. This designation allows you to specify the percentage of assets each person or entity (your TOD beneficiary) will receive. Beneficiaries have no interest in the account during your lifetime.
A tax-advantaged investment account in the United States designed to encourage savings to cover future education expenses (elementary, secondary or college), such as tuition, books, uniform, etc.
Individual Retirement Account is a personal retirement savings program that offers tax advantages to qualified individuals, allowing you to deposit a portion of your income into a tax-advantaged brokerage account. Contributions may also be tax-deductable.
A 401(k) is a type of retirement savings account in the United States, which takes its name from subsection 401(k) of the Internal Revenue Code (Title 26 of the United States Code). A contributor can begin to withdraw funds after reaching the age of 59 1/2 years.
Individual Retirement Account that allows contributors to invest up to $2,000 per year, and to withdraw the principal and earnings totally tax-free under certain conditions.
A salary deduction plan for retirement benefits provided by some small companies with no more than 100 employees.
The Individual 401(k) is a version of the popular 401(k) plan, simplified for owner-only businesses. It includes salary deferral, profit sharing, and loan provision features
A defined benefit contribution plan in which the participant contributes some part and the firm contributes at the same or a different rate. Also called an individual account plan.
An incentive system providing that employees share in company profits through a cash fund or a deferred plan used to buy stock or bonds.
A tax-advantaged investment account in the United States designed to encourage savings to cover future education expenses (elementary, secondary or college), such as tuition, books, uniform, etc.
Assets owned by a fiduciary relationship, which arranges for a trustee to deposit and hold trust assets for the benefit of beneficiaries. The person creating the trust is known as the grantor, and may also be named as a beneficiary.
An account created after an individuals death. Control of assets is directed by the named executor or probate court to protect and divide assets.
An account owned by two or more individuals, some of whom may have limited liability with respect to the obligations of the group.
