You've nodded along when someone said "futures are up" or "don't worry, it's a write-off." So has almost everyone. Here are 18 financial terms that even successful business owners, executives, and physicians get wrong, plus one bonus term that changes how you measure success.
David Chudyk, CFP®, breaks down each term in plain English, along with the "gotcha" most people miss.
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Topics:
Why smart people nod along
Dow Jones
S&P 500
Nasdaq
Futures
Private equity
Yield
Fed funds rate
The deficit
The national debt
Fiduciary
Marginal vs. effective tax rate
Write-off
Umbrella liability
Replacement cost vs. actual cash value
Own-occupation disability
Key person & buy-sell funding
EBITDA & multiples
Sequence of returns risk
Bonus: What wealth really means
KEY TAKEAWAYS
- A write-off is a discount, not a refund.
- Rising yields mean falling prices on the bonds you already own.
- "Fiduciary" isn't automatic.
- A buy-sell agreement with no funding isn't a plan.
- Wealth is measured in time, not dollars.
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This video is for educational purposes only and is not individualized tax, legal, investment, or insurance advice. [Insert standard Parallel Financial disclosure]
#financialliteracy #personalfinance #wealthmanagement
