Financial Planning for Generation X & Y Women
 
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Glossary of Financial Terms

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Medical Durable Power of Attorney
This document authorizes your representative to make medical decisions based on what you have specified in your living will.
Money Market Deposit Account
A type of savings account offered by a financial institution. The Federal government insures money market deposit accounts. They are liquid investments with a rate of interest that is lower than most other investments.
Money Market Mutual Fund
A highly liquid mutual fund that invests in short-term obligations such as commercial paper, government securities and certificates of deposit.
Mortgage
An instrument by which the borrower gives the lender a lien on property (commonly real estate) as security for the payment of an obligation. The borrower continues to use the property; when the obligation is fully extinguished, the lien is removed.
Mutual Fund
A pool of money managed by an investment company. The funds are invested in a variety of securities, including stocks, bonds and money market securities.