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refinance

To refinance one's mortgage is to retire the existing mortgage using the proceeds of a new mortgage and using the same property as collateral. This is usually done to secure a lower interest rate mortgage or to access equity from the property.

registered representative

A registered representative is licensed with the NASD (National Association of Securities Dealers), through association with an NASD member broker / dealer, to act as an account representative for clients and collect commission income.

revolving debt

A debt or liability that does not have a fixed principal balance or payment. Examples include credit cards, home equity lines of credit, etc.

rider

A life insurance rider is an amendment to the standard policy that expands or restricts the policy's benefits. Common riders include a disability waiver of premium rider and a children's life coverage rider.

risk

Investment risk is the chance that the actual returns realized on an investment will differ from the expected return.

rule of 72

A way to determine the effect of compound interest. Divide 72 by the expected return on your investment. If your expected return is 8%, assuming that all interest is reinvested, you will double your money in 9 years.