Acronyms

ABLE

achieving a better life experience. 185, 624

ACTC

additional child tax credit. 71

ACY

approximate compound yield. 311

AFR

applicable federal rate. 469, 470, 479, 621, 635

AGI

adjusted gross income. 68, 71, 99, 100, 128, 156, 160, 165, 175, 193, 195, 218, 261, 408, 477, 479, 537, 541, 565, 568, 580, 586, 588, 589, 592–594, 598, 600, 651

AIME

average indexed monthly earnings. 574, 575

AMI

area median income. 483

AMT

alternative minimum tax. 75, 78, 102, 103, 111, 126, 141, 142, 145, 226, 255, 256, 330

AOTC

American Opportunity Tax Credit. 83, 215, 219

ARM

adjustable-rate mortgage. 268, 480, 509

AUM

assets under management. 341, 482

BAPCPA

Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. 84, 556–558, 560, 597

BEA

bureau of economic analysis. 234

BLS

bureau of labor statistics. 3, 232, 389

CAGR

compound annual growth rate. 29, 240, 272, 293, 329, 359

CAL

capital allocation line. 245

CAPE

cyclically adjusted price-to-earnings ratio. 316

CAPM

capital asset pricing model. 278, 312, 313

CBO

congressional budget office. 482

CD

certificate of deposit. 19, 55, 66, 89, 92, 93, 116, 118, 125, 187, 224, 248, 301, 332

CFAA

Computer Fraud and Abuse Act. 645

CFPB

consumer financial protection bureau. 47, 48, 474, 485, 487, 502, 514

CFTC

commodity futures trading commission. 140, 248, 374, 379

CLAT

charitable lead annuity trust. 622

CLT

charitable lead trust. 629

CLUT

charitable lead unitrust. 622

COBRA

consolidated omnibus budget reconciliation act. 531, 536, 586, 603

CoC

Cash-on-Cash. 396, 397

COI

cost of insurance. 521–523

COLA

cost of living adjustment. 208, 209

CPI

consumer price index. 20, 26, 28, 85, 232, 270, 406, 552, 557, 576

CPI-U

consumer price index for all urban consumers. 328

CRAT

charitable remainder annuity trust. 582, 621

CRT

charitable remainder trust. 582, 620, 653, 654

CRUT

charitable remainder unitrust. 582, 621

CSRS

civil service retirement system. 557

CU

credit union. 56

CUSIP

committee on uniform securities identification procedures. 229

CVLI

cash value life insurance. 464

D/E

debt-to-equity ratio. 269, 310

DAF

donor advised fund. 128, 161, 336, 564, 568

DAPT

domestic asset protection trust. 555, 556, 559, 560, 585, 653, 654

DCA

dollar-cost averaging. 41, 248, 291, 292

DCF

discounted cash flow. 25, 35, 316

DCFSA

dependent-care flexible spending account. 117, 118, 212

DPC

direct primary care. 531, 536

DRIP

dividend reinvestment plan. 309

DSCR

debt service coverage ratio. 393, 394

DTI

debt-to-income. 393, 460, 482, 496, 497, 503, 513

DVA

Department of Veterans Affairs. 648

EDB

eligible designated beneficiary. 650, 651

EDGAR

electronic data gathering, analysis, and retrieval. 203, 311

EIN

employer identification number. 153, 174, 191, 328, 649

EPO

exclusive provider organization. 531, 532

EPS

earnings per share. 310, 316

ERISA

employee retirement income security act. 57, 77, 181, 555, 556, 560, 601

ESOP

employee stock ownership plan. 77, 181, 182, 309

ESPP

employee stock purchase plan. 76, 130, 131, 145

ETC

Exchange-traded Commodity. 342

ETF

Exchange-traded Fund. 54, 61, 119, 121, 122, 136, 138, 146, 190, 224, 227, 228, 252–254, 256, 285, 287, 289, 295, 304, 305, 307, 308, 325, 337, 350, 358, 359, 372, 381, 459, 461, 490, 530, 561, 567

ETN

Exchange-traded Note. 227, 228, 337, 340, 341

ETP

Exchange-traded Product. 128, 337, 460

EV

electric vehicle. 474, 475

Fannie Mae

federal national mortgage association. 481, 482, 496, 505, 512

FASB

financial accounting standards board. 379

FATCA

foreign account tax compliance act. 117, 442, 465, 635

FBAR

foreign bank account report. 117, 442, 465, 559, 561, 634

FCF

free cash flow. 310, 314

FDIC

federal deposit insurance corporation. 47, 54, 55, 58, 86, 332, 530, 597

FERS

federal employees retirement system. 207, 557, 602

FFEL

federal family education loan. 478

FHA

federal housing administration. 149, 393, 398, 400, 481, 483, 509, 510, 512

FHFA

federal housing finance agency. 393, 481, 482, 502

FICA

federal insurance contributions act. 124, 545, 574

FinCEN

financial crimes enforcement network. 117, 176, 442, 465, 559, 619

FINRA

financial industry regulatory authority. 47, 224, 229, 297, 306, 350, 460, 647

FIRPTA

foreign investment in real property tax act. 428–431

FLSA

fair labor standards act. 69, 81

FMV

fair market value. 73, 141–144, 167, 428, 429, 566

Freddie Mac

federal home loan mortgage corporation. 481, 482, 496, 505, 512

FSA

flexible spending account. 68, 91, 115, 117, 184, 452, 531, 534, 539

FTC

federal trade commission. 50, 116, 117, 426, 439, 558

FV

future value. 30, 33, 584

GDP

gross domestic product. 30, 232, 314, 377

GILTI

global intangible low-taxed income. 440, 441

GPO

government pension offset. 208, 577

GRAT

grantor retained annuity trust. 605, 620, 624, 629, 642, 653, 654

GST

generation-skipping trust. 608, 626–628, 653, 654

GSTT

generation-skipping transfer tax. 96, 218

HAF

homeowner assistance fund. 401, 483

HDHP

high-deductible health plan. 90, 184, 210, 517, 531, 532, 534

HEA

home equity agreement. 486

HECM

home equity conversion mortgage. 486

HEL

home equity loan. 393, 483, 484

HELOC

home equity line of credit. 20, 24, 60, 87, 116, 268, 393, 460, 483, 484, 487, 489, 499

HMO

health maintenance organizations. 531, 532, 534, 539, 540

HOA

homeowners association. 90, 172, 402, 416, 417, 426, 483, 497

HSA

health savings account. 16, 18, 57, 87, 91, 104, 115, 160, 183, 184, 195, 210, 258, 282, 292, 463, 479, 488–490, 517, 531, 534, 536, 538, 539, 541, 573, 581, 585–588, 595, 598, 601, 613, 615

IBR

income-based repayment. 476–478

IDGT

intentionally defective grantor trust. 605, 617, 620, 642, 653, 654

IDR

income-driven repayment. 476–479

ILIT

irrevocable life insurance trust. 24, 464, 519, 521, 522, 524, 559, 585, 620, 642, 643, 653, 654

IMF

international monetary fund. 248, 253

IOU

I owe you. 226

IPO

initial public offering. 74, 78, 225, 228, 333, 350, 443, 445, 447, 455, 464, 567

IRA

individual retirement arrangements. 2, 17, 32, 56, 57, 66, 87, 102, 104, 115, 118, 123, 124, 129, 135, 139, 147, 148, 159, 160, 162, 168, 178, 179, 183, 185, 188, 190, 193, 195, 201, 204, 205, 216, 228, 247, 254, 255, 258, 284, 289, 291, 294, 295, 323, 328, 330, 444, 448, 458, 463, 466, 488, 489, 529, 530, 537, 555–557, 560, 573, 581, 585, 586, 588, 589, 592, 595, 597, 598, 601, 602, 613, 615, 622, 650

IRC

internal revenue code. 23, 44, 53, 54, 57, 65–84, 95, 97, 98, 105, 116, 117, 122–124, 126, 133, 135–142, 144, 146, 149, 153–155, 157, 158, 160, 165, 167–173, 175–182, 188, 189, 192–199, 201–207, 209–211, 213–216, 218–220, 226–228, 258, 294, 295, 306, 308, 309, 323–325, 328–330, 333–337, 342–346, 358, 364, 368, 374, 407–411, 413, 414, 416–419, 421, 426, 430, 432–436, 438–441, 444, 446, 449, 451–453, 457, 459, 463, 469, 470, 478, 488, 489, 511, 512, 516, 522–524, 528, 534, 544, 563, 565, 566, 569, 570, 580, 588–592, 594, 595, 601–603, 613–630, 632–634, 636–641, 643–645, 650, 652

IRMAA

income-related monthly adjustment amount. 88, 518, 535, 537, 538, 573, 580, 581, 586–594, 598, 642, 651

IRR

internal rate of return. 2, 4, 5, 25, 36, 125, 157, 395, 444, 447, 523

IRS

internal revenue service. 2, 9, 16, 44, 50, 51, 65, 66, 70, 72, 81, 84, 89, 95–100, 103–109, 111, 114–116, 118, 119, 121–123, 126, 128, 130, 131, 133, 134, 136, 138–144, 146–150, 152–158, 160, 162, 165–167, 169, 170, 173–176, 178–180, 190, 191, 194, 195, 199, 201, 212–214, 295, 306, 328, 340, 345, 346, 364, 387, 392, 404, 406, 408–411, 413, 415–417, 419–421, 423, 427–430, 433–436, 438–440, 442, 446, 449, 451, 453, 464, 466, 469, 470, 479, 480, 484, 486–489, 493, 511, 512, 523, 528, 531, 534, 537, 543, 544, 546, 557, 563, 565–567, 570, 571, 585, 589, 592, 598, 600, 605, 606, 612, 624, 630, 636, 638, 640

ISO

incentive stock options. 75, 76, 78, 102, 103, 131, 141, 142, 145, 551

IUL

indexed universal life. 463, 521–523

JTWROS

joint tenancy with right of survivorship. 53, 601, 639

LLC

limited liability company. 1, 65, 92, 124, 153, 155, 157, 166, 168–175, 177, 182, 204, 387, 404, 417, 422, 427, 428, 433–435, 439, 441, 442, 456, 555, 558–560, 644, 653

LLTC

Lifetime Learning Tax Credit. 83, 215, 219

LP

limited partnership. 90, 136, 204, 446–448, 455–457

LPFSA

Limited-purpose Flexible Spending Account. 117, 212, 534, 539, 540

LTCG

long-term capital gain. 97, 119, 120, 123–125, 368, 479, 537, 581, 588, 591, 593, 598

MACRS

modified accelerated cost recovery system. 154, 156, 406–409, 411

MAGI

modified adjusted gross income. 69, 79, 102, 119, 133, 134, 145, 150, 160, 193, 197, 479, 493, 511, 532, 537, 538, 586, 588, 589, 591–594

MBS

mortgage-backed securities. 251, 481, 482

MEC

modified endowment contract. 463, 522, 524

MedFSA

medical flexible spending account. 117, 212, 539, 540

MF

mutual fund. 224, 226

MFA

multi-factor authentication. 48

MLP

master limited partnership. 132, 134, 135, 228, 325, 345, 585

MMA

money market account. 332

MMF

money market fund. 86–92, 233, 248

MPT

modern portfolio theory. 236, 245, 274–278

MSRB

municipal securities rulemaking board. 224

MSRP

manufacturer’s suggested retail price. 475

NAR

national association of realtors. 405, 416, 422, 427, 498

NAREIT

national association of real estate investment trusts. 248

NAV

net asset value. 332, 333, 337, 338

NCUA

national credit union association. 47, 54, 56, 332, 474

NFA

national futures association. 374

NIIT

net investment income tax. 82, 88, 110, 119, 129, 138, 141, 144, 145, 147, 170, 295, 308, 324, 329, 344, 350, 364, 415, 431, 439, 440, 479, 497, 512, 581, 588, 589, 593, 594

NOI

net operating income. 393, 395, 396, 404

NPC

net present cost. 474

NPV

net present value. 35, 36, 493

NSO

Non-qualified Stock Options. 75, 78, 141–143, 145

OBBBA

one big beautiful bill act (public law 119-21). 23, 68, 91, 101, 102, 117, 123, 124, 129, 145, 149, 150, 154, 157, 165, 176, 177, 212, 214, 258, 344, 411, 415, 431, 446, 447, 464, 469, 476–478, 488, 493, 497, 511, 519, 528, 565, 581, 585, 588, 591, 593, 611, 628, 637

OCC

options clearing corporation. 47, 55, 351

OID

original issue discount. 328, 330

P/E

price-to-earnings ratio. 310, 316

PCE

personal consumption expenditures. 21, 232

PFIC

passive foreign investment company. 323, 336, 441, 451

PIA

primary insurance amount. 574

PIN

personal identification number. 49

PITI

payments, interest, taxes, insurance. 482, 496, 503

PMI

private mortgage insurance. 149, 160, 481, 491, 497, 498, 501, 503, 512, 513

PMPT

post-modern portfolio theory. 274, 276–278

POD

payable upon death. 605, 614, 649

PPI

producer price index. 232, 411

PPLI

private placement life insurance. 523, 524, 653

PPO

preferred provider organization. 531, 532, 534, 539

PSLF

public service loan forgiveness. 476–479

PTE

post-termination exercise. 74

PV

present value. 2, 30, 33–36, 268

QBI

qualified business income. 154, 173, 176, 404, 427, 439, 538

QCD

qualified charitable distributions. 189, 538, 580, 581, 586, 590, 592, 595, 596, 598

QDOT

qualified domestic trust. 627

QLAC

qualified longevity annuity contract. 580

QPRT

qualified personal residence trust. 625, 653, 654

QSBS

qualified small business stock. 78, 95, 144, 169, 171, 177, 444, 451–453, 457

QTIP

qualified terminable interest property. 626

RAP

repayment assistance plan. 91, 476–478

REIT

real estate investment trust. 20, 161, 172, 183, 194, 198, 209, 227, 246, 248, 253–255, 257, 273, 282, 286, 288, 289, 302, 325, 343, 389, 402, 403, 405, 441, 538, 585

repo

repurchase agreement. 332

RIC

regulated investment company. 172, 333

RILA

registered index-linked annuity. 529, 581

RLT

revocable living trust. 605, 614, 618

RMD

required minimum distribution. 57, 102, 188, 190, 192, 195, 196, 258, 530, 537, 579, 580, 585, 586, 588–592, 596, 598, 615, 642, 650

ROE

return on equity. 44, 310

ROI

return on investments. 390, 391, 395, 397, 414

ROIC

return on invested capital. 310

RSA

restricted stock award. 73

RSU

restricted stock unit. 10, 13, 65, 73, 78, 89, 90, 106, 108, 111, 112, 115, 122, 129, 132, 145, 189, 265, 350, 363, 514, 518, 544, 549

RUFADAA

Revised Uniform Fiduciary Access to Digital Assets Act. 606, 612, 645, 646

SAA

shared appreciation agreement. 486

SAFE

simple agreement for future equity. 177, 449–453

SAI

student aid index. 215, 217

SALT

state and local taxes. 68, 90, 102, 150, 160, 165, 177, 182, 329, 492, 511, 565, 600

SAR

stock appreciation rights. 76

SBA

small business administration. 428

SBLOC

securities-backed line of credit. 20, 24, 86, 87, 90, 91, 459, 461, 477, 488–490, 538, 593, 594, 598

SDI

state disability insurance. 14, 44, 111, 190, 497, 542, 547, 548

SDIRA

self-directed IRA. 147, 202, 203

SEC

securities and exchange commission. 47, 63, 127, 128, 157, 202, 224, 228, 248, 304, 307, 311, 323, 350, 385, 444, 456, 461, 568

SEPP

substantially equal periodic payments. 196

SIPC

securities investor protection corporation. 56, 62, 308, 597

SLAT

spousal lifetime access trust. 559, 560, 585, 605, 642, 653, 654

SMA

separately managed account. 335

SOFR

secured overnight financing rate. 233, 306, 459, 462, 464, 479, 593

SPT

stochastic portfolio theory. 274, 278

SRO

self-regulatory organization. 224

SSA

social security administration. 50, 515, 537, 545, 546, 574, 586, 642, 648

SSDI

social security disability insurance. 542, 545, 546, 548

SSI

supplemental security income. 545, 620, 623, 624

SSN

social security number. 48, 50, 118, 174, 328, 514

SSNRA

social security normal retirement age. 543

STRIPS

separate trading of registered interest and principal of securities. 88, 300, 330

SWR

safe withdrawal rate. 38, 40, 279, 573, 574

TBE

tenancy by the entirety. 557, 560, 585

TCJA

tax cuts and jobs act. 65, 78, 102, 123, 124, 145, 149, 150, 154, 155, 161, 178, 316, 329, 344, 410, 412, 427, 431, 494, 511, 538, 581, 588, 589

TDF

target date fund. 279, 283

TIN

taxpayer identification number. 81, 118, 153

TIPS

treasury inflation-protected securities. 20, 104, 126, 226, 232, 248, 255, 261, 263, 287–289, 302, 328, 584

TSP

thrift savings plan. 207

TWAP

time-weighted average price. 305

UBTI

unrelated business taxable income. 135, 147, 168, 172, 203, 204, 228

UDFI

unrelated debt-financed income. 147, 203

UFIPA

uniform fiduciary income and principal act. 615

UGMA

Uniform Gifts to Minors Act. 216

UPC

uniform probate code. 613

USDA

U.S. department of agriculture. 149, 393, 481

USRPHC

U.S. real property holding corporation. 429

USRPI

U.S. real property interest. 428–430

UTC

Uniform Trust Code. 615

UTMA

Uniform Transfers to Minors Act. 216, 605, 609, 610

UVTA

Uniform Voidable Transactions Act. 559

VA

veteran affairs. 393, 398, 478, 481, 483, 502, 509, 512, 529, 530, 557

VC

venture capital. 90, 168, 174, 448, 454–457

VUL

variable universal life. 463, 522

VWAP

volume-weighted average price. 305

WACC

weighted average cost of capital. 314

WEP

windfall elimination provision. 208, 577

WL

whole life insurance. 463, 522

YTM

yield to maturity. 327