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Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services . Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance.
Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort.
Saving is income not spent, or deferred consumption. Methods of saving include putting money aside in, for example, a deposit account, a pension account, an investment fund, or as cash. Saving also involves reducing expenditures, such as recurring costs. In terms of personal finance, saving generally specifies low-risk preservation of money, as in a deposit account, versus investment, wherein risk is a lot higher; in economics more broadly, it refers to any income not used for immediate consumption. Saving does not automatically include interest.
A registered retirement savings plan (RRSP), or retirement savings plan (RSP), is a type of financial account in Canada for holding savings and investment assets. RRSPs have various tax advantages compared to investing outside of tax-preferred accounts. They were introduced in 1957 to promote savings for retirement by employees and self-employed people.
A 529 plan is a tax-advantaged investment vehicle in the United States designed to encourage saving for the future higher education expenses of a designated beneficiary. In 2017, K–12 public, private, and religious school tuition were included as qualified expenses for 529 plans along with post-secondary education costs after passage of the Tax Cuts and Jobs Act.
A Coverdell education savings account, is a tax-advantaged investment account in the U.S. designed to encourage savings to cover future education expenses, such as tuition, books, and uniforms. It is found at Section 530 of the Internal Revenue Code. Coverdell ESAs were first introduced under the Taxpayer Relief Act of 1997.
The principal–agent problem refers to the conflict in interests and priorities that arises when one person or entity takes actions on behalf of another person or entity. The problem worsens when there is a greater discrepancy of interests and information between the principal and agent, as well as when the principal lacks the means to punish the agent. The deviation from the principal's interest by the agent is called "agency costs".
Security market is a component of the wider financial market where securities can be bought and sold between subjects of the economy, on the basis of demand and supply. Security markets encompasses stock markets, bond markets and derivatives markets where prices can be determined and participants both professional and non professional can meet.
The theory of decreasing responsibility is a life insurance philosophy that holds that individual financial responsibilities rise and then decline over the course of a lifetime and that life insurance amounts should reflect those changes. These responsibilities include paying consumer debts, mortgages, funding children's education and income replacement. It is promoted by proponents of term life insurance.
Fobaproa was a contingencies fund created in 1990 by the Mexican government, led by then dominant Institutional Revolutionary Party (PRI) to attempt to resolve liquidity problems of the banking system. The contingencies fund was applied in 1995 during the Mexican peso crisis to protect Mexican banks. In 1998, it was replaced by Instituto para la Protección al Ahorro Bancario, Mexico's current deposit insurance agency.
In the United States, an annuity is a financial product which offers tax-deferred growth and which usually offers benefits such as an income for life. Typically these are offered as structured (insurance) products that each state approves and regulates in which case they are designed using a mortality table and mainly guaranteed by a life insurer. There are many different varieties of annuities sold by carriers. In a typical scenario, an investor will make a single cash premium to own an annuity. After the policy is issued the owner may elect to annuitize the contract for a chosen period of time. This process is called annuitization and can also provide a predictable, guaranteed stream of future income during retirement until the death of the annuitant. Alternatively, an investor can defer annuitizing their contract to get larger payments later, hedge long-term care cost increases, or maximize a lump sum death benefit for a named beneficiary.
An energy audit is an inspection survey and an analysis of energy flows for energy conservation in a building. It may include a process or system to reduce the amount of energy input into the system without negatively affecting the output. In commercial and industrial real estate, an energy audit is the first step in identifying opportunities to reduce energy expense and carbon footprint.
Retirement planning, in a financial context, refers to the allocation of savings or revenue for retirement. The goal of retirement planning is to achieve financial independence.
United States trust law is the body of law regulating the legal instrument for holding wealth known as a trust.
An energy service company (ESCO) is a company that provides a broad range of energy solutions including designs and implementation of energy savings projects, retrofitting, energy conservation, energy infrastructure outsourcing, power generation, energy supply, and risk management.
The Guaranteed Education Tuition Program, or GET Program, is one of two 529 college savings plans administered by Washington College Savings Plans (WA529). WA529 is part of Washington Student Achievement Council, an agency of the U.S. state of Washington for residents of the state. GET is a 529 prepaid tuition savings plan, while Washington's other plan, DreamAhead, is a 529 college investment plan. As with any 529 plan, account owners invest in the program on behalf of a beneficiary – typically the owner's child or grandchild – in order to prepay for expenses associated with the beneficiary attending a higher education institution.
A Deep energy retrofit can be broadly categorized as an energy conservation measure in an existing building also leading to an overall improvement in the building performance. While there is no exact definition for a deep energy retrofit, it can be defined as a whole-building analysis and construction process that aims at achieving on-site energy use minimization in a building by 50% or more compared to the baseline energy use making use of existing technologies, materials and construction practices. Such a retrofit reaps multifold benefits beyond energy cost savings, unlike conventional energy retrofit. It may also involve remodeling the building to achieve a harmony in energy, indoor air quality, durability, and thermal comfort. An integrated project delivery method is recommended for a deep energy retrofit project. An over-time approach in a deep energy retrofitting project provides a solution to the large upfront costs problem in all-at-once execution of the project.
DERs are projects that create new, valuable assets from existing residences, by bringing homes into alignment with the expectations of the 21st century
An investment fund is a way of investing money alongside other investors in order to benefit from the inherent advantages of working as part of a group such as reducing the risks of the investment by a significant percentage. These advantages include an ability to:
Public plans for energy efficient refurbishment are put in place by states to encourage building owners to renovate their properties in a way that increases their energy performance. As financing represents the most important obstacle to this type of renovation, the plans favour financial incentives in the form of loans or grants. Various institutions can be involved in the process, such as ministries, banks, firms, or energy services companies (ESCOs).
The Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019, Pub.L. 116–94 (text)(PDF), was signed into law by President Donald Trump on December 20, 2019 as part of the Further Consolidated Appropriations Act, 2020.
References
- ↑ "David Lloyd Leisure raises the bar in energy saving". edie Energy.
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