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Today's Terms
Municipal bond
Definition:
An investment security for which a state or local government promises to pay an amount at maturity (usually more than five years in the future) with interest, in return for a current investment. Municipal bonds are generally tax-free, but not always.
Asset allocation
Definition:
Diversification of your investments, usually between U.S. and international equities, fixed income, real estate, and commodities.
Trusts for Children
Definition:
You can set up a trust for your children, too. The terms of the trust can specify which of the children's expenses to pay and under what circumstances.
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