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529 plan

A tax-advantaged education savings plan operated by a state or educational institution.  These plans are categorized as either prepaid or savings, and each has separate characteristics.

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Adjusted Gross Income

All taxable income less IRS-allowable adjustments to income.  This figure is from US IRS tax form 1040.
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Asset

Anything owned that has monetary value.
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Beneficiary

The person or party named by the owner of a life insurance policy or investment accounts to receive the proceeds in the event of the owner’s death.
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Common stock

A unit of ownership in a corporation.  Common stockholders participate in the corporation’s profits or losses by receiving dividends and by capital gains or losses in the stock’s share price.
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