Helpful Terms & Tools - Purse Strings

Helpful Terms & Tools

Retirement

Getting Started

Why You Need To Act Now

Helpful Terms
& Tools

What To Consider

Social & Security References

Helpful Terms and Tools

 
Retirement Income – The amount of monthly income you are able to draw from a collection of social security, investment profits, and savings interest

 

Retirement Plan – Your plan for how you would like to spend your post-working years

 

IRA – a type of investment account that allows long term contributions for reduced tax burden

 

401k – a type of investment account that allows pre-tax contributions and often has an employer matching contribution

 

Income Gap – the difference between what women get paid and what men get paid for the same work

 

Emergency Fund – special savings account contributed to regularly and held aside for emergency expenses

 

Social Security – a program that pays people who are unable to work or who are past a certain age

 

Investment – a contribution made at a risk that awards long term payoffs in the future