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Defined Contribution Plan Definition

A defined contribution plan is a form of retirement savings that offers a tax-advantaged account for employees to contribute to. This can be done individually or with the help of their employer. Contributions and growth within the account are typically tax-free until withdrawal, with the exception of Roth options. This means that in defined contribution plans, the responsibility for investment risks and potential gains lies with the employee, not the employer. While some employers may offer matching contributions, the final decision to invest ultimately rests with the employee.

Home Equity

As a knowledgeable professor in the field of finance, it is important to understand the concept of home equity. This refers to the value of your home after subtracting all d...

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Rollover IRA

An Individual Retirement Account, or IRA, is designed to hold assets from a qualified plan for those who are eligible. This plan allows for tax-deferred growth of investment...

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Dollar Cost Averaging*

Dollar-cost averaging is a strategy for building wealth through investing that involves regularly purchasing a fixed dollar amount of securities at predetermined intervals, ...

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Contingent Beneficiary Definition

A contingent beneficiary is someone who is next in line to receive assets such as a life insurance policy, retirement plan, or annuity. While spouses are typically designate...

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