Financial Answer Center
Find the answers you need, just when you need them.
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.
Investment and insurance products and services are offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. United Wealth Management is a trade name of United Bank. Infinex and United Bank are not affiliated. Products and services made available through Infinex are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.