- Introduction
- Knowing Where You Stand
- Making Some Adjustments
- Where Will the Income Come From?
- Your Job Search: It's a Process
- After You Find a New Job
- Glossary
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.
- ARE NOT A DEPOSIT
- ARE NOT FDIC-INSURED
- ARE NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
- ARE NOT GUARANTEED BY THE BANK
- MAY GO DOWN IN VALUE
Important information about procedures for opening a new account
To help the government fight the funding of Terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify and record information that identifies each person who opens an account.
What this means to you: When you open an account, we will ask you for your name, address, date of birth and other information that will allow us to identify you. We may also ask to see your driver's license or other identifying documents.
Investment products are offered through Osaic Institutions, Inc., Member FINRA/SIPC. Insurance products offered through Osaic Institutions, Inc.
