Month: May 2020

A branch manager is an executive who is in charge of a particular location, or branch office, of a bank or other financial services company. They are responsible for all of the functions of that branch office, including hiring employees, overseeing the approval of loans and lines of credit (LOC), marketing, building a rapport with the community to attract business, assisting with customer relations, and ensuring that the branch meets its goals and objectives in a timely manner.

Lifestyle creep occurs when an individual’s standard of living improves as their discretionary income rises and former luxuries become new necessities. The rise in discretionary income can happen either through an increase in income or decrease in costs.

An economic collapse is a breakdown of a national, regional, or territorial economy that typically follows a time of crisis. An economic collapse occurs at the onset of a severe version of an economic contraction, depression, or recession and can last any number of years depending on the severity of the circumstances. An economic collapse can happen rapidly due to an unexpected event, or it may be preceded by several events or signs pointing to fragility in the economy.

Forbearance is a temporary postponement of mortgage payments. It is a form of repayment relief granted by the lender or creditor in lieu of forcing a property into foreclosure. Loan owners and loan insurers may be willing to negotiate forbearance options because the losses generated by property foreclosure typically fall on them.

Accumulation phase has two meanings for investors and those saving for retirement. It refers to the period when an individual is working and planning and ultimately building up the value of their investment through savings. The accumulation phase is then followed by the distribution phase, in which retirees begin accessing and using their funds.

Form 2848: Power of Attorney and Declaration of Representative is an Internal Revenue Service (IRS) document that authorizes an individual or organization to represent a taxpayer by appearing before the IRS—at an audit, for example.

Tag-along rights also referred to as co-sale rights, are contractual obligations used to protect a minority shareholder, usually in a venture capital deal. If a majority shareholder sells his stake, it gives the minority shareholder the right to join the transaction and sell their minority stake in the company. Tag-alongs effectively oblige the majority shareholder to include the holdings of the minority holder in the negotiations so that the tag-along right is exercised.

An assessed value is the dollar value assigned to a property to measure applicable taxes. Assessed valuation determines the value of a residence for tax purposes and takes comparable home sales and inspections into consideration. It is the price placed on a home by the corresponding government municipality to calculate property taxes.

The water ETF is an exchange-traded fund that invests primarily in companies that operate within the purview of water treatment, distribution and sales. This ETF goes beyond the scope of private companies and deals with utility companies and third-party marketers as well.