Glossary

P

PITI is an acronym for principal, interest, taxes and insurance. This combination is what makes up your monthly mortgage payment. Calculating your PITI number will help you determine which house you can afford and enable your lender to see if you are a viable candidate for a mortgage loan.
A pension plan is a benefit plan established by either an employer or a union (or another employee organization) to help employees save for retirement. The plan, depending on the type offered, may either guarantee workers a certain income during retirement or help them defer income for retirement.

Recent Terms

Wealth Management
Wealth management is the process of reviewing and making decisions about your wealth so you can achieve your financial goals.
Stagflation
Stagflation is an especially difficult economic environment created by the combination of several factors: slow economic growth, high inflation, and a high unemployment rate.
Exchange-traded fund (ETF)
An exchange-traded fund (ETF) is a type of investment fund that holds a variety of underlying securities, including stocks, bonds, or alternative assets. It’s a way for investors to pool their money and each gain exposure to the assets within the fund rather than purchasing each asset individually.