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Glossary

401(k)
A retirement savings plan sponsored by an employer in the United States. We do not use 401ks in Canada. Employees contribute a portion of their pre-tax income to the plan, and employers may also make matching contributions.
Annual Percentage Rate (APR)
The cost of borrowing money expressed as an annual percentage.
Asset Allocation
The strategy of dividing investments among different asset classes (e.g., stocks, bonds, real estate) to manage risk and return.
Bond
A debt security issued by a corporation or government, representing a loan made by an investor to the issuer.
Bull Market
A market condition characterized by rising stock prices and investor optimism.
Capital Gains
Profits earned from the sale of an asset, such as stocks or real estate.
Compounding
The process of earning interest on both the principal and accumulated interest, leading to exponential growth over time.
Dividend
A portion of a company's profits paid to shareholders.
Diversification
The investment strategy of spreading investments across different assets to reduce overall risk.
Dow Jones Industrial Average (DJIA)
A stock market index that tracks the performance of 30 large publicly traded companies in the United States.
Equity
Ownership in a company, typically represented by shares of stock.
Federal Reserve (The Fed)
The central banking system of the United States, responsible for monetary policy.
FHSA (First Home Savings Account)
A tax-advantaged savings account in Canada designed to help first-time homebuyers save for a down payment.
Gross Domestic Product (GDP)
The total market value of all goods and services produced within a country in a given period.
Inflation
The rate at which the general level of prices for goods and services is rising.
Interest Rate
The cost of borrowing money, expressed as a percentage of the principal.
Investment
The act of committing money or capital to an asset with the expectation of generating income or profit.
Liquidity
The ease with which an asset can be quickly bought or sold in the market without significant price impact.
Management Expense Ratio (MER)
An annual fee expressed as a percentage that a fund company charges to cover the operating expenses of a mutual fund or ETF. The MER encompasses costs like management fees paid to the portfolio manager, operating expenses (ie record-keeping and legal fees), and taxes like HST or GST. If a fund has a 2% MER and its investments gained 9% in a year, the investor's reported return would be 7%.
Market Capitalization
The total market value of a company's outstanding shares of stock.
Mutual Fund
An investment vehicle that pools money from multiple investors to invest in a diversified portfolio of securities.
Portfolio
A collection of investments owned by an individual or institution.
Risk Tolerance
An investor's ability and willingness to accept the potential for investment losses.
RRSP (Registered Retirement Savings Plan)
A tax-deferred retirement savings plan in Canada that allows individuals to contribute a portion of their income annually and defer taxes on the contributions and investment growth until withdrawal.
S&P 500
A stock market index that tracks the performance of 500 of the largest companies in the United States.
Stock
A share of ownership in a publicly traded company.
Tax-Advantaged Account
A type of investment account that offers tax benefits, such as tax-deferred growth or tax-free withdrawals.
TFSA (Tax-Free Savings Account)
A tax-advantaged savings account in Canada that allows individuals to contribute a certain amount of money each year and withdraw funds tax-free.
Volatility
The degree to which the price of a security or market fluctuates.
Yield
The return on an investment, typically expressed as an annual percentage.