The Bottom Line Blog - Encompass Wealth Group

Fiduciary

Financial Literacy Month Term of the Day FIDUCIARY A person or organization that acts on behalf of another person or persons, putting their clients'...

Asset Class

Financial Literacy Month Term of the Day ASSET CLASS A category of investments that are grouped by common attributes, such as income...

Modified Endowment Contract (MEC)

Financial Literacy Month Term of the Day MODIFIED ENDOWMENT CONTRACT (MEC) According to federal tax law limits, MEC is the term given to a life...

Required Minimum Distribution (RMD)

Financial Literacy Month Term of the Day REQUIRED MINIMUM DISTRIBUTION (RMD) The amount of money required by the IRS to be withdrawn each year from...

1035 Exchange

Financial Literacy Month Term of the Day 1035 EXCHANGE Used in life insurance, the IRS allows a 1035 exchange to be executed to replace one life...

Indexed Universal Life Insurance (IUL)

Financial Literacy Month Term of the Day INDEXED UNIVERSAL LIFE INSURANCE (IUL) A type of cash value life insurance where the cash value is credited...

Asset-Based Long-Term Care

Financial Literacy Month Term of the Day ASSET-BASED LONG-TERM CARE Unlike traditional long-term care and its "use it or lose it" benefits, this is...

Fixed Indexed Annuity (FIA)

Financial Literacy Month Term of the Day FIXED INDEX ANNUITY (FIA) Returns in this annuity category are typically linked to a fixed interest rate or...