Legal and Financial Advisor Gaithersburg MD
When searching for a top legal and financial advisor Gaithersburg MD can provide, it’s not always easy to figure out when — and how — to connect with a good advisor. Many individuals come to financial advisors for help to better understand how to wisely invest their assets.
In discussing your financial future with a top legal and financial advisor Gaithersburg MD has to offer, understanding some key terminology may be a helpful step in mapping out your investment future:
This is an employer-sponsored retirement savings program which allows an employee to put aside a certain percentage of their wages in a tax-deferred account. In some cases, employers will also match an employee’s contribution or will provide a certain percentage of this contribution.
Assets are often defined as anything of value that an individual owns. Asset allocation is an investment strategy where a percentage of an individual’s money is divided up into different assets, such as stocks and bonds, with the intent of accruing interest and increasing monetary value over time.
This strategy is similar to asset allocation but it applies more to bigger investments. The goal of diversification is to spread investments across several different stock market industries and securities. An experienced legal and financial advisor Gaithersburg MD can provide might recommend diversification to ensure that the fall of one market or industry does not ruin an investor’s entire portfolio.
This is a tax-deferred retirement account. Unlike a 401(k) plan, an IRA plan is not sponsored through an employer. There are several different types of IRAs, including traditional IRAs, Roth IRAs, and Rollover IRAs. Hiring a top legal and financial advisor in Gaithersburg MD may be beneficial for choosing the best type of IRA for your financial goals.
A mutual fund investment is one where multiple investors with similar financial goals pool their investment money together. Each investor will have partial equity (ownership) in the fund and any securities within the fund.
These items signify partial ownership of a corporation (including all of its assets and profits). The U.S. stock market contains hundreds of different stocks that change value daily. Investments in the stock market are one of the most common financial goals that a legal and financial advisor Gaithersburg MD trusts will help clients with. A small “penny stock” could have a low value of just a few cents. Companies that do not split their stocks have been known to produce shares that are thousands of dollars for a single stock.
Contact Your Local Gaithersburg MD Legal and Financial Advisor
An experienced financial advisor will welcome inquiries from current and prospective clients, so contact a top legal and financial advisor Gaithersburg MD residents trust.