Plain-English definitions for the terms you'll encounter on your financial journey.
A legal document that specifies a person's preferences for medical treatment if they become unable to communicate their wishes.
An option is at-the-money when its strike price is the same as the current market price of the underlying security.
Automated Teller Machine is a self-service kiosk that allows you to withdraw cash, deposit money, or check your account balance at any time without needing to visit a physical bank branch.
A charge imposed by a bank for using an automated teller machine, often occurring when using a machine not owned by the account holder's bank.
A Personal Identification Number is a secret numeric code used to verify your identity. It acts like a digital key that proves you are authorized to use your bank account at an ATM or make a purchase.
A retirement savings plan that meets specific IRS requirements to receive favorable tax treatment for both employers and employees.