TomorrowMakers ™

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a fixed amount of money paid to an investor at regular intervals of time, usually till the end of his/her life.

Asset Management

Management of securities such as stocks, mutual funds, bonds, limited partnerships, etc. as well as tangible assets such as real estate, carried out by a professional, to meet particular investment goals of an investor.


A debt investment wherein an investor loans funds to a corporate or governmental entity at a fixed or variable interest rate for a particular period of time. Bonds are used by these entities to fund various projects and activities.

Capital gain

the profit made when the sale price of an asset such as property or an investment, is more than its purchase price.

Capital loss carryover

the total amount of capital losses that cannot be deducted from the current tax year but can be carried over into future tax years.

Closed end fund

a collective investment model in which a fixed number of shares are issued at the time of initial public offer after which no shares are further issued even if there is high investor demand for the same. The total capital accumulated through such funds remains fixed.

Committed expenses

Living expenses one needs to afford facilities required to maintain a such as housing, food clothing, transportation, education and insurance. Committed expenses include all the expenses necessary to maintain a person's basic lifestyle such as housing, food, clothing, transportation, education, and insurance.


A person or organisation that owes money to another person or organization.


Domicile is a person's or an organization's primary residence for tax purposes.

Discretionary income

Discretionary income is the difference between your income and your expenses. The expenses covered here include the money spent on luxury items, vacations and non essential goods and services.


An executor is a person or an institution, designated in a will, to carry out its instructions and the wishes of deceased person. The executor is appointed by the person who makes the will (testator) or by a court.

Gift tax

Gift tax is applied on the transfer of property from one individual to another. This tax applies when the transfer is a gift and the person giving it receives nothing or less than the full value in return.

Gross income

Gross income refers to all the potentially taxable income received from any source for a person or an organization.

Joint tenancy

Combined ownership of a property by two or more individuals.

Surplus cash

Excess funds that are available once expenses are covered and investments are made.


An asset is anything that holds an economic value such as cash or something that be easily converted into cash. Some examples of assets are securities, inventory, house, car, office equipment or property.

Asset Protection

Asset protection is a strategical approach aimed at guarding one's valuable assets from creditor claims in case of inability to pay off the debt.

Bear Market

It refers to a period of several months or years during which stock prices continually fall and the stock markets exhibit a general downward trend.

Bull Market

It refers to a period of several months or years during which stock prices continually rise and the stock market exhibits a general upward trend.


An asset that an individual uses to guarantee a loan and agrees to let go of in the event of failure to repay the loan is known as collateral.

Debt Financing

The act of raising capital for meeting the operational needs of an organization by means of borrowing. The organization issues bills or securities to lenders with the assurance that their debt will be repaid along with the interest within the agreed time span.


Decrease in the value of an asset over a period of time due to use or wear and tear.

Fixed Deposit

An investment instrument wherein a fixed amount of money is deposited with the bank for a fixed time span at a fixed interest rate which is usually higher than the interest rate offered by a savings account. The money can be withdrawn at maturity or at regular intervals depending upon one's requirements.


The assets that form a part of the investment portfolio held by an individual or a company are known as the holdings. Holdings can be anything ranging from bonds, stocks, mutual funds to other investment products.


A liability is any form of debt that a company or an individual is legally obligated to pay. Some common examples of liabilities are loans and overdrafts.

Lock-In Period

It is the period after investment in a financial product during which an investor is legally prohibited from selling the units of that product.


It is a financial agreement with a bank or a financial institution wherein an individual is permitted to withdraw money exceeding the funds in his/ her account. There is limit set upon the extent of funds that can be withdrawn from the bank as a part of the overdraft facility once the individual's balance reaches zero.

Pension Fund

A type of fund wherein an employee,employer or both make consistent contributions that are further invested in order to reap future benefits upon retirement of the employee.


An IPO is said to be undersubscribed in case the demand for the shares of the company is much less than the number of shares issued out to the public.

Venture Capital

Venture capital is a type of funding offered by wealthy investors to help start up new businesses as well as expand small firms with significant growth potential. In return for the investment made, they receive benefits in the form of equity or a share of the profits earned by the company.

Balance Sheet

A financial statement that lists out the summary of assets and liabilities of an individual at any given point of time is known as the balance sheet.


It is essentially the legal status of an individual or an organization that is unable to pay the debts it owes to its creditors due to lack of resources. An entity is declared bankrupt by court order after evaluation and acceptance of a bankruptcy petition filed by the debtor.


A sudden, temporary decline in the prices of stocks while the stock market is exhibiting a general upward trend is known as correction.

Current Account

It is a type of bank account specifically tailored to meet the needs of businessmen and professionals who indulge in multiple financial transactions in a single day (non


Deflation is the general decrease in prices of goods and services which can last for a few months to a couple of years. It is expressed as the rate at which the prices of goods and services decline over time. It is


The revelation of all relevant financial information associated with a company that might influence the investment decision of an investor in that company.

Exchange Rate

It the value of a country's currency in terms of another country's currency. It is the rate at which one nation's currency can be exchanged for another.

Nest egg

A significant amount of money that one has set aside for fulfilling long term financial goals such as retirement, buying a house, college education or medical emergencies etc. is known as nest egg.


Rally is a prolonged period of time during which there is a consistent rise or fall in the prices of stocks, bonds or stock market index.

Return on Investment (ROI)

Return on investment is a measure of the level of returns earned from an investment relative to the cost of the same investment. Mathematically it is determined by dividing the benefit of an investment by the cost of the same.

Risk Reward Ratio

The ratio that investors use to compare the profitability of an investment to the amount of risk associated with that investment is known as risk reward ratio.

Secured Loan

It is type of loan wherein the borrower is obligated to pledge an asset as collateral with the lender so as to diminish the level of risk associated with lending out the money.


A company that is in the early stages of development and is being funded by an individual founder or a small number of investors.

Tax refunds

Tax refund is the amount of money that is in excess of the tax liability paid out by an individual and is therefore returned to him/her by the government. Technically, it is the difference between the taxes paid and taxes owed.

Unsecured Loan

It is a type of loan wherein the borrower is not obligated to pledge an asset as collateral with the lender for acquiring the loan and the interest rate on such loans is usually much higher than that of secured loans.

Asset allocation

The process of balancing risk and reward by altering the percentage of each asset in an investor's financial portfolio, based on his/her risk capacity, investment time horizon, and financial goals.


Beneficiary is the person who is designated to receive the proceeds from a life insurance policy, annuity or retirement plan. A beneficiary need not be only an individual; it can also be trust, organization or any other entity.

Cafeteria plan

a benefit plan for employees that allows them to choose benefits according to their individual needs; be it taxable and nontaxable, or qualified, benefit options for employees.

Capital loss

the loss incurred when the sale price of an asset such as property or an investment, is lesser than its purchase price.

Cash flow

The total amount of money transferred in and out of a business, during a specific time period is known as cashflow.


An addition to an existing will that explains, alters or explains some or all of the the provisions in a will.

Custodial account

An account created with a financial institution by an adult on behalf of a minor. The adult alone has control of the account until the minor reaches maturity and turns 18 years of age.

Deferred annuity

Is a type of annuity that postpones income or instalments until the investor chooses to receive them. This type of annuity that has two stages the first is the Savings Phase where you put money into the account, and the second is Income Phase where the collected money is converted into an annuity and you start receiving payments.

Discretionary expenses

Discretionary expenses are the living expenses that are not needed to ensure the basic lifestyle of an individual. These expenses mostly include things that are often defined as "wants" rather than "needs".


The strategy of investing your money in different asset classes so as to minimize the risk of loss and maximize returns.


Fiduciary is a person who holds a legal or ethical relationship of trust with another person and has authority to act on their behalf, for example, lawyers, trustees, administrators and custodians. The fiduciary manages assets of the other person without profiting themselves.

Gross estate

Gross estate is the total assets owned by an individual at the time of death, before being reduced by certain deductionssuch as taxes and debt.

Income Tax

A tax levied by governments on the income earned by individuals and institutions within their jurisdiction.

Mutual fund

A mutual fund is an investment instrument that pools money from individual investors and invests it in stocks, bonds, or other securities. Here, each investor owns shares that represent his/her part, of these holdings.


Increase in the value of an asset over a period of time.

Asset Class

An asset class is a group of financial instruments that possess the same characteristics, tend to behave in a similar fashion in the financial markets and are subjected to the same laws. The three types of asset classes are stocks, bonds and cash.

Balanced Investment Strategy

It is a strategy of investment wherein assets are allocated in a manner that the risks and returns are carefully balanced. This strategy spreads assets equally between equity and fixed income instruments.


A licensed individual or a firm that is authorized to execute buying and selling orders (pertaining to shares, bonds or mutual funds) of an investor in return for a commission or fees.


A budget refers to the written estimation of one's expenses and income over a specific future time frame usually a year. This can be prepared for an individual, company or institution.


Collectible refers to an asset available in limited quantity but perceived to be of high value. These assets are not easily convertible into cash. Most common types of collectibles are fine art, antique furniture, toys, coins etc.


This term refers to an individual or a company's inability to timely pay off the principal or interest due on a financial obligation such as a loan or other forms of debt.

Equity Financing

The act of raising money for meeting the operational needs of an organization by selling out its shares. The shareholders thereby possess partial ownership rights in the organization in return for the investment made.

Hard Assets

A hard asset is a physical and tangible asset that can be used to purchase other goods or services. Some examples of hard assets are financial instruments such as cash or physical objects such as buildings, machines etc.

IPO (Initial Public Offer)

IPO is the first sale of shares of a company to the public, primarily with the intention of raising money and transforming from a private to a public company.


The ease with which an asset can be converted into cash or cash equivalents (gold, stocks, fixed deposit etc.) is known as liquidity of an asset.

Net Worth

The total value of assets after deduction of liabilities is known as net worth. Net worth is used to denote the economic position of an individual or a company in order to determineits actual worth.


An IPO is said to be oversubscribed in case the demand for the shares of the company is much greater than the number of shares being issued out to the public.

Time Horizon

The length of time one can comfortably remain invested in a financial product. The longer the time horizon the better returns one can expect to make.


The process of determining the true worth/value of an asset or investment. Valuation techniques may be subjective or objective in nature.


An analyst is a finance professional who collects and interprets financial data pertaining to corporate entities and financial markets to predict the price movement of stocks and offers buying and selling recommendations to investors.

Bank Account Statement

It is the summary of all the financial transactions undertaken by an individual or institution holding an account in a bank over a specified period of time. It is sent out by the bank to the account holder periodically.

Blue Chip Company

A company which has a long standing reputation of offering high quality goods as well as services to consumers. Even in the face of adverse economic situations, such companies continue to grow at a steady pace, operate profitably, and enjoy the status of an industry leader.

Credit Limit

The upper limit on the amount of money that an individual can borrow using a single credit card from a bank or a financial institution is known as the credit limit.


It is a legal document with which an individual transfers the rights of ownership of a property or any other asset to another individual.


It is an extreme state wherein the economy suffers from severe form of economic inactivity characterized by high level of unemployment, decrease in income as well as production, reduced credit availability, low volume of trade and commerce. It usually lasts for a period of two or more years.

Down Payment

It is the payment made in cash mode initially at the time of purchase of a high priced good or service. It reflects only a percentage of the total purchase amount, the remaining of which is paid in installments over a period of time.


Inflation is the general increase in prices of goods and services which can last for a few months to a couple of years. It is expressed as the rate at which the prices of goods and services rise over time.

Pension Fund

A fund established by an employer to which both the employer and the employee contributes consistently over a period of time to secure regular income in the form of pension post retirement.


Recession is the slowdown of economic activities lasting for a period of several months. It is characterized by low levels of production, employment, income as well as trade.

Risk Management

The process of determining potential risks associated with the investment an individual has made and finding out ways to diminish them is known as risk management.

Savings Account

It is a deposit account with a bank that offers you security for the amount of money you deposit along with interest at mediocre rates. It is the simplest type of bank account.


A shareholder is an individual or an organization in whose name one or more shares are issued and who holds ownership in the company to the extent of his holdings.

Tax deductions

Tax deduction is reduction of the taxable income by subtracting certain specified expenses from the gross income of an individual.

Tax return

The form used by a taxpayer to calculate the tax liability after making all the permissible deductions from the taxable income received in a year is known as tax return.

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