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What is a 529 plan? A 529 plan is a tax-efficient savings plan designed to help pay for education. Initially limited to post-secondary education costs, it was expanded to cover K-12 education in 2017 and apprenticeship programs in 2019. The two main types of 529 plans are college savings plans and prepaid tuition plans. Education savings plans are growing tax-deferred, …

What is Willie Sutton’s rule? The Willie Sutton Rule is based on a statement by notorious American bank robber Willie Sutton, who, when asked why he stole from banks, replied, “Because that’s where the silver”. In other words, his end goal was money, so why waste time looking for it in obscure or questionable places instead of taking the path …

What is an ABA transit number? ABA transit numbers, also known as ABA routing or transfer numbers, are used to identify specific US financial institutions and appear on standard checks. Basically, it is a nine-digit numeric address for each bank. Key points to remember An ABA transit number is a set of numbers that identifies a specific US financial institution. …

What is a forward repurchase agreement? Under a forward repurchase agreement (term repo), a bank agrees to buy securities of Merchant then sell them back to the dealer shortly after at a pre-specified price. The difference between the buy and sell prices represents the implied interest paid for the deal. Forward repurchase agreements are used as a short-term financing solution …

What is a trading room? A dealing room refers to a physical area in which trading activities in financial instruments, such as actions, fixed income, futures contractsand options, take place. The trading floors are located in the buildings of various stock exchanges, such as the New York Stock Exchange (NYSE) and the Chicago Chamber of Commerce (CBOT). Trading rooms can …

What is a Canadian income trust? A Canadian income trust is a type of investment trust that holds stable, income-producing assets and distributes payments to unitholdersor shareholders, on a periodic basis (monthly or quarterly). Key points to remember A Canadian income trust is an investment fund that holds income-producing assets and periodically distributes payments to unitholders or shareholders. Canadian income …

What is the nominal return? The nominal yield of a bond, represented as a percentage, is calculated by dividing the total interest paid annually by the nominal, or bybond value. Key points to remember The nominal yield of a bond, represented as a percentage, is calculated by dividing the total interest paid annually by the nominal value of the bond. …

Yoghurt or curd for skin whitening and oily skin treatments. Everyone wants a flawless and brighter looking skin. But at times due to certain factors, the skin may look dull and lifeless. Not only can that extreme sun exposure also make your skin looks darker than it is. Apart from that, young adults face acne, pimples, marks and spots etc …

How much car insurance do you need? The answer depends on a number of factors, including where you live, the value of your car, and other assets you need to protect. Here’s what you need to know. Key points to remember Most states require you to have at least a minimum amount of insurance coverage for injuries or property damage …