Words like "austerity," "sequestration" and "equity" are commonly used in news stories everywhere these days, but do you know what they mean? Senior producer Paddy Hirsch explains their actual definitions.
I am very lost and uncertain of our financial road to retirement. Our company doesn't offer defined payment retirement; it is all up to individual and 401(k). The company does match 3 percent. I am married and we have been working for 14 years now and have combined liquid assets (401(k), outside investment account, savings) of about $400,000, plus home equity of $100,000 on a good day. What shape are we in on our road to retirement? Thanks much. Martin, Chicago, IL
Tangible Common Equity used to be an obscure and rarely-used accounting term. Today it's one of the main motivators behind the government's decision to turn the American taxpayer into one of Citigroup's biggest stockholders. Senior Editor Paddy Hirsch explains.