Asset: What you own.
Asset Allocation: Diversifying your assets to minimize risk.
Bankruptcy: The process of being declared unable to pay your debts by a court. Your assets are then distributed among your creditors.
Career Transition: The process of moving from one job, although not necessarily one career, to another.
Cash Flow: Your income minus your expenses.
Emergency Reserve Fund: An amount of money set aside to use for unexpected needs.
Fair Market Value: The cash equivalent of an asset's value; what a willing buyer would pay a willing seller for the asset.
Illiquid Assets: Things you own which cannot be quickly turned into cash with minimal risk of loss of principal.
Income: Primarily includes your earnings (salary and self-employment income), severance, and unemployment. Other common income categories are interest, dividends, capital gains, investment and rental income, pension, and Social Security benefits.
Liability: What you owe.
Liquid Assets: Things you own which can be turned into cash quickly without risk of loss.
Net Cash Flow: Your income less your outflow (expenses plus the amount that goes into your savings and investments).
Net Worth: What you own (assets) minus what you owe (liabilities).
Notice: The act of being informed that you will be leaving your job begins the notice period.
Outflow: All your expenses and, typically, what you pay yourself (the amount that goes into your savings and investments).
Secured Loan: A loan that is guaranteed (secured) by an asset (collateral).
Unsecured Loan: A loan on your creditworthiness.
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC. Insurance products are offered through LPL or its licensed affiliates. Premier America Credit Union and Premier America Investment & Retirement Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Premier America Investment & Retirement Services, and may also be employees of Premier America Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of Premier America Credit Union or Premier America Investment & Retirement Services. CA Insurance License #0759204, TX Insurance License#1643255.
Securities and insurance offered through LPL or its affiliates are: