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Beginning Investing by Danielle L. Schultz

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APPENDIXA

Glossary

401(k) A retirement program offered by private industry involving contributions from the employee and (frequently) matching funds contributed by the employer.

403(b) A retirement program offered by schools, universities, and (often) other nonprofits.

529 plan A state-sponsored savings plans designed specifically for college savings. The earnings grow tax-free, and withdrawals are tax-free if used for qualified educational expenses. There is no minimum investment, and anyone can contribute, regardless of income.

active management When the manager of a mutual fund uses personal judgment to select investments.

annualized return The average return of an investment over a period of years, averaged per year.

annuity An insurance ...

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