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FINANCIAL TERMS

Adjusted gross income The amount of income remaining after sub- tracting any adjustments to income (like tax deductions) from income. This figure is used for calculating whether you are eligible for certain tax- related items.

Amortization Reducing the principal of a loan by regular payments

Annuity A contract between an insurance company and an individual in which the company agrees to provide income, which may be fixed or vari- able in amount, for a specified period of time in exchange for a stipulated amount of money.

Asset Anything owned that has monetary value.

Asset allocation The process of determining what proportions of your portfolio holdings are to be invested in the various asset classes.

Beneficiary The person who receives the death benefit of an insurance policy. Beneficiaries are also those named by account owners as the

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Copyright 2003 by Charles G. Zhang and Lynn L. Chen-Zhang. Click Here for Terms of Use.

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