Self liquidating mortgage We cam amateur

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In three years, Ingrid can apply for Old Age Security, currently ,942 per year. Her largest cost is her

In three years, Ingrid can apply for Old Age Security, currently $6,942 per year. Her largest cost is her $1,260 monthly mortgage payment.

10% guideline 10-Q 10-Year Treasury Note 20% cushion rule 25% rule 30-Year Treasury 501-(C)(3) bond A rating A2/P2 spread AA rating AAA rating above par absolute priority rule absolute rate access bond accreted value accretion of discount accrual bond accrual of discount accrued discount accrued interest accrued market discount accumulated interest accumulation bond acknowledge active bond active bond crowd active management active tranche additional bonds test adjusted exercise price adjustment bond ADP advance payment bond advance refunding affirmative covenant after-tax basis after-tax return agency bond aggregate risk airbag swap airport revenue bond all weather fund allocation alpha generator American Municipal Bond Assurance Corporation American Stock Exchange AMEX amortization of premium amortized bond amortized value amortizing interest rate swap amortizing security anticipation note any-interest-date call arbitrage bond arrearage arrears arrears swap Asian Bond Market Initiative (ABMI) ask asked price asking price assessment bond asset allocation asset backed commercial paper asset class breakdown asset coverage asset swap asset swapped convertible option transaction asset-backed security asset-coverage test asset-swap spread assignment form Association of International Bond Dealers (AIBD) assumed bond at par auction auction rate auction rate securities (ARS) Australian stock price riskless indexed note (ASPIRIN) authority bond automated bond system average discount rate average duration average effective duration average effective maturity average nominal maturity average weighted maturity axe B rating baby bond baccalaureate bond backdoor borrowing backup line bailment bailout bond balanced fund balloon interest balloon maturity bank anticipation note (BAN) bank-eligible issues Barron's Confidence Index basis book basket BB rating BBB rating bear flattener bear steepener bearer bearer bond bearer instrument bellwether below par benchmark bond benchmark interest rate best ask best bid bid bid bond bid-to-cover ratio bid/ask spread Bill bill announcement bill auction bill pass blanket bond blanket fidelity bond blanket honesty bond blanket position bond blend fund blended yield to maturity block block positioner block trade Blue List Bolsa De Madrid Bolsa Mexicana De Valores Bolsas Y Mercados Espanoles bond bond agreement bond anticipation note bond attorney bond basis book bond broker Bond Buyer Bond Buyer 11 Bond Buyer 20 Bond Buyer Index Bond Buyer's Municipal Bond Index bond calendar bond certificate bond circular bond conversion bond counsel bond crowd bond discount bond dividend bond equity earnings yield ratio (BEER) bond equivalent yield Bond ETF bond floor bond for bond lending bond fund bond futures bond holder bond indenture bond index bond indexing bond issue bond laddering bond ladders bond market Bond Market Association Bond Market Association (BMA) swap bond market index bond mutual fund bond option bond ordinance bond point bond power bond premium bond price elasticity bond quote bond rating bond ratio bond resolution bond risk premium bond spread bond swap bond trustee bond valuation bond value bonded bonded debt bondholder bonds enabling annual retirement savings (BEARS) bonds payable book-entry security Borsa Italiana Brady bond Build America Bonds (BABs) builder's bonds bull and bear bonds bull bond bulldog bond bullet bond bullet contract bunny bond Bureau of Public Debt business risk busted bond busted convertible butterfly shift buy buyback C rating cabinet crowd cabinet security cabinet trade calculation agent call call date call price call protection call provision call risk callable callable bond called away called bond Canada Premium Bond (CPB) Canada savings bond Canadian Originated Preferred Securities (COPr S) canary call cap capital market capital market efficiency capital structure capitalization capitalization ratio capped note cash bond cash equivalents cash in cash plus convertible cash reserves CAT bond catastrophe bond catastrophe call CBO CC rating CCC rating certificate certificate in investment performance management (CIPM) certificate of accrual on treasury securities Certificate of Government Receipts (COUGRs) Certificate of Participation certificateless municipal bond Certificates for Amortizing Revolving Debts certificates of accrual on treasury securities (CATS) chart chastity bond chattel mortgage bond circular citizen bond class Clinton bond CLO closed period closed-end indenture CMO Co Co Bonds collar collateral trust certificate Collateralized Bond Obligation collateralized debt obligation Collateralized Mortgage Obligation Collaterized Loan Obligation COLTS combination bond combination matching commercial mortgage-backed security commercial paper Commercial Paper Funding Facility Committee on Uniform Securities Identification Procedures Commodity Research Bureau Index (CRB) commodity-backed bond common stock equivalent companion bonds conditional call option conduit bond consol consolidated bond consolidated mortgage bond constant maturity treasury constant yield method construction bond construction loan note consumer debenture contagion contingent convertibles (Co Cos) continuously offered longer-term securities (COLTS) contractual claim conversion conversion option conversion parity price conversion premium conversion price conversion ratio conversion value convertibility clause convertible convertible bond convertible bond arbitrage convertible debenture convertible debt Convertible Eurobond convertible exchangeable preferred stock convertible price convertible security convertible subordinate note convex convexity corporate bond corporate bond equivalent corporate equivalent yield corporate taxable equivalent corporate trust corpus cost of money coupon coupon bond coupon equivalent yield (CEY) coupon pass coupon rate coupon yield covered bond credit analysis credit analyst credit market credit quality credit risk cross calling crossover credit crossover refunded cumulative liability current coupon bond current issue current market value current maturity current production rate current yield curve steepener trade cushion cushion bond CUSIP CUSIP number custodial receipt date of payment day count convention de minimis tax rule dealer market death spiral convertible death-backed bonds debenture debt debt capital Debt Ceiling debt financing debt fund debt instrument debt limit debt limitation debt market debt shelf debt tender offer debt to equity debt warrant debt-based asset debt-equity swap debt/equity ratio debtholder debtor deep-discount bond default premium default rate deferment period deferred interest bond definitive securities delayed annuity deleveraged floater deliverable bills delivery option delivery vs.

repayment denomination depository trust and clearing corporation Depository Trust Company derivative derivatives time bomb detachable warrant digested security direct access notes (DANs) direct issuer direct paper discount discount bond discount margin discounted discounted bond distribution date dollar bond dollar bond index linked securities (dollar BILS) dollar duration dollar price dollar roll domestic bond double exempt double tax-exemption doubling option downgrade Dragon Bond drawn securities droplock security dual currency bond dual currency issue dual currency swap dual listing due date duration duration gap duration matching strategy Dutch auction DV01 DVP DVR dwarf effective duration effective rate effective yield election period eleven bond index eligible paper embedded option Emerging Markets Bond Index (EMBI) empirical duration equity linked Eurobond equity premium puzzle (EPP) equity risk premium equity-linked note equivalent taxable yield escrowed to maturity Euro certificate of deposit (EURO CD) Euro medium term note Euro straight Eurobond Euroclear Eurodollar bond Euroequity issues European callable bond European Covered Bond Council (ECBC) Euroyen bond event risk event-linked bond ex-legal excess cash flow excess spread exchange exchange traded note exchangeable bond exchangeable debenture exchangeable security exempt income exempt security extendable bond extendible note extension swap external financing external funds external market extraordinary call face value face-amount certificate factor model fallen angel Fannie Mae federal agency bond federal agency securities federal bond Federal Home Loan Mortgage Corporation Federal National Mortgage Association Federal Reserve Bank Note FHLMC fidelity bond fiduciary bond finance financial instrument financial market financing flows fine paper first call date fiscal agent Fitch Investors Service Fitch Ratings fitch sheets five against bond spread (FAB) fixed income fixed income equivalent fixed income fund fixed income instruments fixed income unit investment trust fixed maturity plan fixed rate tax fixed-dollar obligations fixed-income arbitrage fixed-income assets fixed-income style box fixed-rate capital securities flat flat scale flat trades flat yield curve flight to quality flip-flop note floater floating supply floating-rate bond flow of funds flower bond FNMA forced conversion foreign bond market foreign crowd foreign currency convertible bond (FCCB) forward free bond freedom shares full full coupon bond full lot full price G7 bond general mortgage bond General Obligation Bond GIC gilt gilt edged bond Ginnie Mae Ginnie Mae pass-through global bond GNMA gnomes going away gold bond gold reserve good delivery Government Bond Government National Mortgage Association Government Paper government securities Government Securities Clearing Corporation grade graduated security grandfathered bond green bond gross revenue pledge GSCC guaranteed bond Guaranteed Investment Contract H hard call protection heavy market high yield high-coupon bond refunding high-grade bond high-premium convertible debenture high-yield bond spread high-yield financing hospital revenue bond housing bond hurricane bond hybrid instrument hybrid security I bonds Iceland Stock Exchange (ICEX) implied repo rate imputed interest rate in arrears in escrow inactive stock/bond income bond indemnity bond indenture independent investments index bond index model index-linked bond index-linked gilt index-linked savings certificate industrial bond Industrial Development Bond (IDB) industrial development revenue bonds (IDRBs) industrial revenue bond inflation-adjusted principal inflation-indexed security inflation-linked savings bond (I bond) inflation-proof security inflation-protected security (IPS) installment bond insurance bond insured bond interchangeable bond interest bearing investment interest coverage ratio interest rate collar interest rate differential (IRD) interest rate risk interest rate swap interest subsidy interest-bearing interest-elastic interest-inelastic interim certificate intermarket spread swap intermarket spread swaps intermediate bond intermediate-term international bond International Swaps and Derivatives Association interpolated yield curve (I curve) intramarket sector spread intrinsic value inverse floater inverse floating rate note inverted scale inverted yield curve invested capital investment bill investment grade debt instrument investment letter investment memorandum investment mix investment security investment value investment-grade bond Irish Stock Exchange (ISE) irredeemable bond irregular coupon ISIN issue issue date issuer Jakarta Stock Exchange (JSE) Japanese Government Bond joint bond jump Z-tranche junior junior note junior refunding junk bond kangaroo bond kicker kitchen sink bond law day law of one price Lehman Aggregate Bond Index Lehman Brothers Asset-Backed Securities Index Lehman Brothers government/corporate bond index Lehman Investment Opportunity Note (LION) letter security Level 1 asset Level 2 asset Level 3 asset level-coupon bond leveraged loan leveraging levered levered free cash flow Liberty Bond limitation on merger, consolidation, or sale limitation on sale-and-leaseback limitation on subsidiary borrowing limited risk limited tax bond limited-tax general obligation bond liquid theory of the term structure liquid yield option note liquidity agreement liquidity premium liquidity risk listed listing Little Board London Stock Exchange (LSE) Long Bond long coupon long position long-term long-term investor longevity bond longevity derivatives lost instrument bond low grade low-coupon bond refunding M-Camp Macaulay Duration maintenance and replacement call maintenance bond make-whole call provision mandatory redemption schedule mandatory sinking-fund redemption mandatory tender bond maple bond marginal cost of capital market basket market capitalization market conversion price market discount market index deposit (MID) market risk premium marketability marketable security marking up or down Marks-Roos bonds master notes matador bond matched maturities matrix trading matured matured non-interest-bearing debt maturity maturity basis maturity by maturity bidding (MBM) maturity date maturity gap maturity schedule maturity spread maturity value MBIA MBS MBS pool number medium-dated gilt medium-term medium-term bond medium-term note medium-term noteholder mezzanine debt Michael Milken minimum yield minus yield mob spread modified duration money market money market deposit account money market mutual fund Moody's Investment Grade (MIG) moral obligation bond mortgage bond mortgage cash flow obligation (MCFO) mortgage pass-through security mortgage pool mortgage revenue bond mortgage spread duration mortgage subsidy bond mortgage-backed certificate mortgage-backed security MTA Index multi-callable bond multiperiod immunization muni muni fund municipal bond municipal bond arbitrage municipal bond fund municipal bond index municipal bond insurance Municipal Bond Insurance Association municipal bond market municipal convertible municipal inflation linked securities municipal investment trust municipal note municipal over bond (MOB) spread municipal revenue bond municipal security Munifacts naked warrant name position bond National Market System near money negative arbitrage negative pledge clause negative yield curve negotiable security net debt to assessed valuation net debt to estimated valuation net interest cost (NIC) net revenue pledge new money New York Stock Exchange Nine-Bond Rule nob spread nominal nominal rate nominal yield non-callable non-callable bond non-interest-bearing note non-investment grade noncompetitive bid nondiversifiable risk nonrated nonrefundable normal yield curve not rated note note auction Notice of Sale NYSE obligation obligation bond obligor odd coupon off the run Treasury yield curve off-the-run Treasuries offer offering offering circular offering price offering scale official statement OID on the run Treasury yield curve on-the-run Treasuries open end indenture option-adjusted yield optional call optional payment bond original face original face value Original Issue Discount original maturity original-issue discount bond (OID) Oslo Bors (OSE) OTC Bulletin Board OTCBB out-of-favor outside financing outstanding Over-the-Counter PAC bond paper paper dealer par par bond par value par yield curve participating GIC participation certificate pass-through pass-through coupon rate passive bond patriot bond paying agent payment date payment-in-kind security pc performance bond period of digestion permanent financing perpetual floating-rate note perpetual warrant Pfandbriefe phantom income pickup pickup bond placement ratio plain vanilla point poison put policyholder loan bonds pool portfolio interest positive convexity positive yield curve preferred debt preferred redeemable increased dividend equity securities (PRIDES) preliminary official statement premium premium adjustable convertible security (PEACS) premium bond premium over bond value premium over conversion value premium put convertible prepayment speed prerefunding presale order price risk Price Value of a Basis Point price-based option primary distribution primary instrument primary offering prime paper prior lien bond private activity bond (PAB) private purpose bond private sector pass-through privileged bond project completion restriction proportional spread prospectus protective stop provisional call feature provisional rating public bond public housing authority bond public offering public purpose bond Public Securities Association Standard Prepayment Model (PSA Model) pulling in their horns purchase pure discount instrument pure yield pickup swap put bond put provision PVBP qualified legal opinion quality spread quotation quote rate anticipation swap rate covenant rate trigger rating rating service re-offer price Real Estate Mortgage Investment Conduit rebate recapitalization redeem redeemable redeemable bond redemption redemption date redemption price refund refunding refunding escrows deposits (REDS) refunding risk registered bond registered coupon bond registered security registrar regular-way delivery remaining maturity REMIC rentier reorganization bond repayment terms required yield reset bonds Residential Mortgage-Backed Security residual interest bond (RIB) residual security restricted security retail note retire retractable bond return revenue anticipation note revenue bond reverse convertible bond reverse convertible note (RCN) reverse swap revolving underwriting facility (RUF) risk risk-free asset risk-free rate puzzle (RFRP) risk-free return riskless asset riskless rate of return roll-down return round lot rundown Savings Bond savings bond plan scrip scripophily seasoning SEC SEC filing secondary distribution secondary market secondary offering secured bond securities Securities and Exchange Commission Securities Industry and Financial Markets Association security self-liquidating bond self-supporting bond self-supporting debt sell selling flat semi-annual bond basis (SABB) SENAF senior refunding sentiment serial bond serial bond with balloon serial redemption series bond Series E bond Series EE bond Series HH bond Series I Bond shadow rating shelf offering shelf registration short bond short coupon short-term short-term bond fund short-term debt short-term funding short-term reserves sideways sinkable bond sinker sinking fund sinking fund call SIX Swiss Exchange sour bond sovereign debt special assessment bond special bond account special miscellaneous account special-purpose bond speculative debt instrument split coupon bond split offering split rating spot rate spot rate Treasury curve spot yield curve spread duration spread to worst spreadlock staggered maturities stamped security stated maturity step down note step-up bond stepped coupon bond sterling warrant into gilt-edged stock stock buyback stop-out price straight bond straight value strip strippable bond stripped coupon stripped yield structured note structured yield product exchangeable for stock (STRYPES) Student Loan Marketing Association sub-sovereign obligation (SSO) subordinated subordinated bonds subordinated debenture bond subscription warrant substantially identical security substitution bond swap substitution swap super senior super sinker bond surety surety bond swap dealer swap reversal sweetener systematic risk T-Bill TAC bond targeted accrual redemption note (TARN) targeted amortization class bond tax anticipation note tax renevue anticipation note tax-exempt bond tax-exempt security tax-free bond taxable bond taxable municipal bond ten percent guideline term term bond term to maturity terminal value territory bond thirty-day visible supply TIPS toggle note toll revenue bond ton total bond fund total return swap trade trading tranche transportation bond Treasuries Treasury auction Treasury Bill Treasury Bond Treasury Direct Treasury Inflation-Protected Security treasury investment growth receipt (TIGR) Treasury Investment Growth Receipts (TIGRs) Treasury real yield curve Treasury real yield curve rates Treasury receipt treasury yield Treasury yield curve triple exemption triple tax exempt Trust Indenture Act of 1939 trust-preferred security twenty bond index twenty-five percent rule twenty-percent cushion rule U.

That is both an investment issue and a tax question. Today, at age 62, Ingrid’s $4,500 income monthly before tax consists of $2,600 from her defined benefit pension, $200 from her defined contribution pension plan, $700 from the Canada Pension Plan discounted for an early start and $1,000 rental income. If she starts now, her federal marginal rate will be 20.5 per cent and her provincial marginal rate 13 per cent. Ingrid can start making RRSP withdrawals now, withdrawing perhaps $7,000 a year, and thus average her income after 65 when OAS starts at a present rate of $6,942 a year.

Ingrid can look forward to indexation on her defined benefit public service pension, currently $27,360 per year. After 65, she can add Old Age Security at $579 per month, making total gross income $5,079 per month. Better, split RRSP withdrawals to $25,000 per year this year and next, Moran advises. It’s an effective use of the money and given Ingrid’s lack of experience with investments, it is a conservative choice, Moran adds.“Her financial choices and her personal situation can resolve each other,” Moran says.

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In three years, Ingrid can apply for Old Age Security, currently $6,942 per year. Her largest cost is her $1,260 monthly mortgage payment.10% guideline 10-Q 10-Year Treasury Note 20% cushion rule 25% rule 30-Year Treasury 501-(C)(3) bond A rating A2/P2 spread AA rating AAA rating above par absolute priority rule absolute rate access bond accreted value accretion of discount accrual bond accrual of discount accrued discount accrued interest accrued market discount accumulated interest accumulation bond acknowledge active bond active bond crowd active management active tranche additional bonds test adjusted exercise price adjustment bond ADP advance payment bond advance refunding affirmative covenant after-tax basis after-tax return agency bond aggregate risk airbag swap airport revenue bond all weather fund allocation alpha generator American Municipal Bond Assurance Corporation American Stock Exchange AMEX amortization of premium amortized bond amortized value amortizing interest rate swap amortizing security anticipation note any-interest-date call arbitrage bond arrearage arrears arrears swap Asian Bond Market Initiative (ABMI) ask asked price asking price assessment bond asset allocation asset backed commercial paper asset class breakdown asset coverage asset swap asset swapped convertible option transaction asset-backed security asset-coverage test asset-swap spread assignment form Association of International Bond Dealers (AIBD) assumed bond at par auction auction rate auction rate securities (ARS) Australian stock price riskless indexed note (ASPIRIN) authority bond automated bond system average discount rate average duration average effective duration average effective maturity average nominal maturity average weighted maturity axe B rating baby bond baccalaureate bond backdoor borrowing backup line bailment bailout bond balanced fund balloon interest balloon maturity bank anticipation note (BAN) bank-eligible issues Barron's Confidence Index basis book basket BB rating BBB rating bear flattener bear steepener bearer bearer bond bearer instrument bellwether below par benchmark bond benchmark interest rate best ask best bid bid bid bond bid-to-cover ratio bid/ask spread Bill bill announcement bill auction bill pass blanket bond blanket fidelity bond blanket honesty bond blanket position bond blend fund blended yield to maturity block block positioner block trade Blue List Bolsa De Madrid Bolsa Mexicana De Valores Bolsas Y Mercados Espanoles bond bond agreement bond anticipation note bond attorney bond basis book bond broker Bond Buyer Bond Buyer 11 Bond Buyer 20 Bond Buyer Index Bond Buyer's Municipal Bond Index bond calendar bond certificate bond circular bond conversion bond counsel bond crowd bond discount bond dividend bond equity earnings yield ratio (BEER) bond equivalent yield Bond ETF bond floor bond for bond lending bond fund bond futures bond holder bond indenture bond index bond indexing bond issue bond laddering bond ladders bond market Bond Market Association Bond Market Association (BMA) swap bond market index bond mutual fund bond option bond ordinance bond point bond power bond premium bond price elasticity bond quote bond rating bond ratio bond resolution bond risk premium bond spread bond swap bond trustee bond valuation bond value bonded bonded debt bondholder bonds enabling annual retirement savings (BEARS) bonds payable book-entry security Borsa Italiana Brady bond Build America Bonds (BABs) builder's bonds bull and bear bonds bull bond bulldog bond bullet bond bullet contract bunny bond Bureau of Public Debt business risk busted bond busted convertible butterfly shift buy buyback C rating cabinet crowd cabinet security cabinet trade calculation agent call call date call price call protection call provision call risk callable callable bond called away called bond Canada Premium Bond (CPB) Canada savings bond Canadian Originated Preferred Securities (COPr S) canary call cap capital market capital market efficiency capital structure capitalization capitalization ratio capped note cash bond cash equivalents cash in cash plus convertible cash reserves CAT bond catastrophe bond catastrophe call CBO CC rating CCC rating certificate certificate in investment performance management (CIPM) certificate of accrual on treasury securities Certificate of Government Receipts (COUGRs) Certificate of Participation certificateless municipal bond Certificates for Amortizing Revolving Debts certificates of accrual on treasury securities (CATS) chart chastity bond chattel mortgage bond circular citizen bond class Clinton bond CLO closed period closed-end indenture CMO Co Co Bonds collar collateral trust certificate Collateralized Bond Obligation collateralized debt obligation Collateralized Mortgage Obligation Collaterized Loan Obligation COLTS combination bond combination matching commercial mortgage-backed security commercial paper Commercial Paper Funding Facility Committee on Uniform Securities Identification Procedures Commodity Research Bureau Index (CRB) commodity-backed bond common stock equivalent companion bonds conditional call option conduit bond consol consolidated bond consolidated mortgage bond constant maturity treasury constant yield method construction bond construction loan note consumer debenture contagion contingent convertibles (Co Cos) continuously offered longer-term securities (COLTS) contractual claim conversion conversion option conversion parity price conversion premium conversion price conversion ratio conversion value convertibility clause convertible convertible bond convertible bond arbitrage convertible debenture convertible debt Convertible Eurobond convertible exchangeable preferred stock convertible price convertible security convertible subordinate note convex convexity corporate bond corporate bond equivalent corporate equivalent yield corporate taxable equivalent corporate trust corpus cost of money coupon coupon bond coupon equivalent yield (CEY) coupon pass coupon rate coupon yield covered bond credit analysis credit analyst credit market credit quality credit risk cross calling crossover credit crossover refunded cumulative liability current coupon bond current issue current market value current maturity current production rate current yield curve steepener trade cushion cushion bond CUSIP CUSIP number custodial receipt date of payment day count convention de minimis tax rule dealer market death spiral convertible death-backed bonds debenture debt debt capital Debt Ceiling debt financing debt fund debt instrument debt limit debt limitation debt market debt shelf debt tender offer debt to equity debt warrant debt-based asset debt-equity swap debt/equity ratio debtholder debtor deep-discount bond default premium default rate deferment period deferred interest bond definitive securities delayed annuity deleveraged floater deliverable bills delivery option delivery vs. repayment denomination depository trust and clearing corporation Depository Trust Company derivative derivatives time bomb detachable warrant digested security direct access notes (DANs) direct issuer direct paper discount discount bond discount margin discounted discounted bond distribution date dollar bond dollar bond index linked securities (dollar BILS) dollar duration dollar price dollar roll domestic bond double exempt double tax-exemption doubling option downgrade Dragon Bond drawn securities droplock security dual currency bond dual currency issue dual currency swap dual listing due date duration duration gap duration matching strategy Dutch auction DV01 DVP DVR dwarf effective duration effective rate effective yield election period eleven bond index eligible paper embedded option Emerging Markets Bond Index (EMBI) empirical duration equity linked Eurobond equity premium puzzle (EPP) equity risk premium equity-linked note equivalent taxable yield escrowed to maturity Euro certificate of deposit (EURO CD) Euro medium term note Euro straight Eurobond Euroclear Eurodollar bond Euroequity issues European callable bond European Covered Bond Council (ECBC) Euroyen bond event risk event-linked bond ex-legal excess cash flow excess spread exchange exchange traded note exchangeable bond exchangeable debenture exchangeable security exempt income exempt security extendable bond extendible note extension swap external financing external funds external market extraordinary call face value face-amount certificate factor model fallen angel Fannie Mae federal agency bond federal agency securities federal bond Federal Home Loan Mortgage Corporation Federal National Mortgage Association Federal Reserve Bank Note FHLMC fidelity bond fiduciary bond finance financial instrument financial market financing flows fine paper first call date fiscal agent Fitch Investors Service Fitch Ratings fitch sheets five against bond spread (FAB) fixed income fixed income equivalent fixed income fund fixed income instruments fixed income unit investment trust fixed maturity plan fixed rate tax fixed-dollar obligations fixed-income arbitrage fixed-income assets fixed-income style box fixed-rate capital securities flat flat scale flat trades flat yield curve flight to quality flip-flop note floater floating supply floating-rate bond flow of funds flower bond FNMA forced conversion foreign bond market foreign crowd foreign currency convertible bond (FCCB) forward free bond freedom shares full full coupon bond full lot full price G7 bond general mortgage bond General Obligation Bond GIC gilt gilt edged bond Ginnie Mae Ginnie Mae pass-through global bond GNMA gnomes going away gold bond gold reserve good delivery Government Bond Government National Mortgage Association Government Paper government securities Government Securities Clearing Corporation grade graduated security grandfathered bond green bond gross revenue pledge GSCC guaranteed bond Guaranteed Investment Contract H hard call protection heavy market high yield high-coupon bond refunding high-grade bond high-premium convertible debenture high-yield bond spread high-yield financing hospital revenue bond housing bond hurricane bond hybrid instrument hybrid security I bonds Iceland Stock Exchange (ICEX) implied repo rate imputed interest rate in arrears in escrow inactive stock/bond income bond indemnity bond indenture independent investments index bond index model index-linked bond index-linked gilt index-linked savings certificate industrial bond Industrial Development Bond (IDB) industrial development revenue bonds (IDRBs) industrial revenue bond inflation-adjusted principal inflation-indexed security inflation-linked savings bond (I bond) inflation-proof security inflation-protected security (IPS) installment bond insurance bond insured bond interchangeable bond interest bearing investment interest coverage ratio interest rate collar interest rate differential (IRD) interest rate risk interest rate swap interest subsidy interest-bearing interest-elastic interest-inelastic interim certificate intermarket spread swap intermarket spread swaps intermediate bond intermediate-term international bond International Swaps and Derivatives Association interpolated yield curve (I curve) intramarket sector spread intrinsic value inverse floater inverse floating rate note inverted scale inverted yield curve invested capital investment bill investment grade debt instrument investment letter investment memorandum investment mix investment security investment value investment-grade bond Irish Stock Exchange (ISE) irredeemable bond irregular coupon ISIN issue issue date issuer Jakarta Stock Exchange (JSE) Japanese Government Bond joint bond jump Z-tranche junior junior note junior refunding junk bond kangaroo bond kicker kitchen sink bond law day law of one price Lehman Aggregate Bond Index Lehman Brothers Asset-Backed Securities Index Lehman Brothers government/corporate bond index Lehman Investment Opportunity Note (LION) letter security Level 1 asset Level 2 asset Level 3 asset level-coupon bond leveraged loan leveraging levered levered free cash flow Liberty Bond limitation on merger, consolidation, or sale limitation on sale-and-leaseback limitation on subsidiary borrowing limited risk limited tax bond limited-tax general obligation bond liquid theory of the term structure liquid yield option note liquidity agreement liquidity premium liquidity risk listed listing Little Board London Stock Exchange (LSE) Long Bond long coupon long position long-term long-term investor longevity bond longevity derivatives lost instrument bond low grade low-coupon bond refunding M-Camp Macaulay Duration maintenance and replacement call maintenance bond make-whole call provision mandatory redemption schedule mandatory sinking-fund redemption mandatory tender bond maple bond marginal cost of capital market basket market capitalization market conversion price market discount market index deposit (MID) market risk premium marketability marketable security marking up or down Marks-Roos bonds master notes matador bond matched maturities matrix trading matured matured non-interest-bearing debt maturity maturity basis maturity by maturity bidding (MBM) maturity date maturity gap maturity schedule maturity spread maturity value MBIA MBS MBS pool number medium-dated gilt medium-term medium-term bond medium-term note medium-term noteholder mezzanine debt Michael Milken minimum yield minus yield mob spread modified duration money market money market deposit account money market mutual fund Moody's Investment Grade (MIG) moral obligation bond mortgage bond mortgage cash flow obligation (MCFO) mortgage pass-through security mortgage pool mortgage revenue bond mortgage spread duration mortgage subsidy bond mortgage-backed certificate mortgage-backed security MTA Index multi-callable bond multiperiod immunization muni muni fund municipal bond municipal bond arbitrage municipal bond fund municipal bond index municipal bond insurance Municipal Bond Insurance Association municipal bond market municipal convertible municipal inflation linked securities municipal investment trust municipal note municipal over bond (MOB) spread municipal revenue bond municipal security Munifacts naked warrant name position bond National Market System near money negative arbitrage negative pledge clause negative yield curve negotiable security net debt to assessed valuation net debt to estimated valuation net interest cost (NIC) net revenue pledge new money New York Stock Exchange Nine-Bond Rule nob spread nominal nominal rate nominal yield non-callable non-callable bond non-interest-bearing note non-investment grade noncompetitive bid nondiversifiable risk nonrated nonrefundable normal yield curve not rated note note auction Notice of Sale NYSE obligation obligation bond obligor odd coupon off the run Treasury yield curve off-the-run Treasuries offer offering offering circular offering price offering scale official statement OID on the run Treasury yield curve on-the-run Treasuries open end indenture option-adjusted yield optional call optional payment bond original face original face value Original Issue Discount original maturity original-issue discount bond (OID) Oslo Bors (OSE) OTC Bulletin Board OTCBB out-of-favor outside financing outstanding Over-the-Counter PAC bond paper paper dealer par par bond par value par yield curve participating GIC participation certificate pass-through pass-through coupon rate passive bond patriot bond paying agent payment date payment-in-kind security pc performance bond period of digestion permanent financing perpetual floating-rate note perpetual warrant Pfandbriefe phantom income pickup pickup bond placement ratio plain vanilla point poison put policyholder loan bonds pool portfolio interest positive convexity positive yield curve preferred debt preferred redeemable increased dividend equity securities (PRIDES) preliminary official statement premium premium adjustable convertible security (PEACS) premium bond premium over bond value premium over conversion value premium put convertible prepayment speed prerefunding presale order price risk Price Value of a Basis Point price-based option primary distribution primary instrument primary offering prime paper prior lien bond private activity bond (PAB) private purpose bond private sector pass-through privileged bond project completion restriction proportional spread prospectus protective stop provisional call feature provisional rating public bond public housing authority bond public offering public purpose bond Public Securities Association Standard Prepayment Model (PSA Model) pulling in their horns purchase pure discount instrument pure yield pickup swap put bond put provision PVBP qualified legal opinion quality spread quotation quote rate anticipation swap rate covenant rate trigger rating rating service re-offer price Real Estate Mortgage Investment Conduit rebate recapitalization redeem redeemable redeemable bond redemption redemption date redemption price refund refunding refunding escrows deposits (REDS) refunding risk registered bond registered coupon bond registered security registrar regular-way delivery remaining maturity REMIC rentier reorganization bond repayment terms required yield reset bonds Residential Mortgage-Backed Security residual interest bond (RIB) residual security restricted security retail note retire retractable bond return revenue anticipation note revenue bond reverse convertible bond reverse convertible note (RCN) reverse swap revolving underwriting facility (RUF) risk risk-free asset risk-free rate puzzle (RFRP) risk-free return riskless asset riskless rate of return roll-down return round lot rundown Savings Bond savings bond plan scrip scripophily seasoning SEC SEC filing secondary distribution secondary market secondary offering secured bond securities Securities and Exchange Commission Securities Industry and Financial Markets Association security self-liquidating bond self-supporting bond self-supporting debt sell selling flat semi-annual bond basis (SABB) SENAF senior refunding sentiment serial bond serial bond with balloon serial redemption series bond Series E bond Series EE bond Series HH bond Series I Bond shadow rating shelf offering shelf registration short bond short coupon short-term short-term bond fund short-term debt short-term funding short-term reserves sideways sinkable bond sinker sinking fund sinking fund call SIX Swiss Exchange sour bond sovereign debt special assessment bond special bond account special miscellaneous account special-purpose bond speculative debt instrument split coupon bond split offering split rating spot rate spot rate Treasury curve spot yield curve spread duration spread to worst spreadlock staggered maturities stamped security stated maturity step down note step-up bond stepped coupon bond sterling warrant into gilt-edged stock stock buyback stop-out price straight bond straight value strip strippable bond stripped coupon stripped yield structured note structured yield product exchangeable for stock (STRYPES) Student Loan Marketing Association sub-sovereign obligation (SSO) subordinated subordinated bonds subordinated debenture bond subscription warrant substantially identical security substitution bond swap substitution swap super senior super sinker bond surety surety bond swap dealer swap reversal sweetener systematic risk T-Bill TAC bond targeted accrual redemption note (TARN) targeted amortization class bond tax anticipation note tax renevue anticipation note tax-exempt bond tax-exempt security tax-free bond taxable bond taxable municipal bond ten percent guideline term term bond term to maturity terminal value territory bond thirty-day visible supply TIPS toggle note toll revenue bond ton total bond fund total return swap trade trading tranche transportation bond Treasuries Treasury auction Treasury Bill Treasury Bond Treasury Direct Treasury Inflation-Protected Security treasury investment growth receipt (TIGR) Treasury Investment Growth Receipts (TIGRs) Treasury real yield curve Treasury real yield curve rates Treasury receipt treasury yield Treasury yield curve triple exemption triple tax exempt Trust Indenture Act of 1939 trust-preferred security twenty bond index twenty-five percent rule twenty-percent cushion rule U. That is both an investment issue and a tax question. Today, at age 62, Ingrid’s $4,500 income monthly before tax consists of $2,600 from her defined benefit pension, $200 from her defined contribution pension plan, $700 from the Canada Pension Plan discounted for an early start and $1,000 rental income. If she starts now, her federal marginal rate will be 20.5 per cent and her provincial marginal rate 13 per cent. Ingrid can start making RRSP withdrawals now, withdrawing perhaps $7,000 a year, and thus average her income after 65 when OAS starts at a present rate of $6,942 a year.Ingrid can look forward to indexation on her defined benefit public service pension, currently $27,360 per year. After 65, she can add Old Age Security at $579 per month, making total gross income $5,079 per month. Better, split RRSP withdrawals to $25,000 per year this year and next, Moran advises. It’s an effective use of the money and given Ingrid’s lack of experience with investments, it is a conservative choice, Moran adds.“Her financial choices and her personal situation can resolve each other,” Moran says.

,260 monthly mortgage payment.

10% guideline 10-Q 10-Year Treasury Note 20% cushion rule 25% rule 30-Year Treasury 501-(C)(3) bond A rating A2/P2 spread AA rating AAA rating above par absolute priority rule absolute rate access bond accreted value accretion of discount accrual bond accrual of discount accrued discount accrued interest accrued market discount accumulated interest accumulation bond acknowledge active bond active bond crowd active management active tranche additional bonds test adjusted exercise price adjustment bond ADP advance payment bond advance refunding affirmative covenant after-tax basis after-tax return agency bond aggregate risk airbag swap airport revenue bond all weather fund allocation alpha generator American Municipal Bond Assurance Corporation American Stock Exchange AMEX amortization of premium amortized bond amortized value amortizing interest rate swap amortizing security anticipation note any-interest-date call arbitrage bond arrearage arrears arrears swap Asian Bond Market Initiative (ABMI) ask asked price asking price assessment bond asset allocation asset backed commercial paper asset class breakdown asset coverage asset swap asset swapped convertible option transaction asset-backed security asset-coverage test asset-swap spread assignment form Association of International Bond Dealers (AIBD) assumed bond at par auction auction rate auction rate securities (ARS) Australian stock price riskless indexed note (ASPIRIN) authority bond automated bond system average discount rate average duration average effective duration average effective maturity average nominal maturity average weighted maturity axe B rating baby bond baccalaureate bond backdoor borrowing backup line bailment bailout bond balanced fund balloon interest balloon maturity bank anticipation note (BAN) bank-eligible issues Barron's Confidence Index basis book basket BB rating BBB rating bear flattener bear steepener bearer bearer bond bearer instrument bellwether below par benchmark bond benchmark interest rate best ask best bid bid bid bond bid-to-cover ratio bid/ask spread Bill bill announcement bill auction bill pass blanket bond blanket fidelity bond blanket honesty bond blanket position bond blend fund blended yield to maturity block block positioner block trade Blue List Bolsa De Madrid Bolsa Mexicana De Valores Bolsas Y Mercados Espanoles bond bond agreement bond anticipation note bond attorney bond basis book bond broker Bond Buyer Bond Buyer 11 Bond Buyer 20 Bond Buyer Index Bond Buyer's Municipal Bond Index bond calendar bond certificate bond circular bond conversion bond counsel bond crowd bond discount bond dividend bond equity earnings yield ratio (BEER) bond equivalent yield Bond ETF bond floor bond for bond lending bond fund bond futures bond holder bond indenture bond index bond indexing bond issue bond laddering bond ladders bond market Bond Market Association Bond Market Association (BMA) swap bond market index bond mutual fund bond option bond ordinance bond point bond power bond premium bond price elasticity bond quote bond rating bond ratio bond resolution bond risk premium bond spread bond swap bond trustee bond valuation bond value bonded bonded debt bondholder bonds enabling annual retirement savings (BEARS) bonds payable book-entry security Borsa Italiana Brady bond Build America Bonds (BABs) builder's bonds bull and bear bonds bull bond bulldog bond bullet bond bullet contract bunny bond Bureau of Public Debt business risk busted bond busted convertible butterfly shift buy buyback C rating cabinet crowd cabinet security cabinet trade calculation agent call call date call price call protection call provision call risk callable callable bond called away called bond Canada Premium Bond (CPB) Canada savings bond Canadian Originated Preferred Securities (COPr S) canary call cap capital market capital market efficiency capital structure capitalization capitalization ratio capped note cash bond cash equivalents cash in cash plus convertible cash reserves CAT bond catastrophe bond catastrophe call CBO CC rating CCC rating certificate certificate in investment performance management (CIPM) certificate of accrual on treasury securities Certificate of Government Receipts (COUGRs) Certificate of Participation certificateless municipal bond Certificates for Amortizing Revolving Debts certificates of accrual on treasury securities (CATS) chart chastity bond chattel mortgage bond circular citizen bond class Clinton bond CLO closed period closed-end indenture CMO Co Co Bonds collar collateral trust certificate Collateralized Bond Obligation collateralized debt obligation Collateralized Mortgage Obligation Collaterized Loan Obligation COLTS combination bond combination matching commercial mortgage-backed security commercial paper Commercial Paper Funding Facility Committee on Uniform Securities Identification Procedures Commodity Research Bureau Index (CRB) commodity-backed bond common stock equivalent companion bonds conditional call option conduit bond consol consolidated bond consolidated mortgage bond constant maturity treasury constant yield method construction bond construction loan note consumer debenture contagion contingent convertibles (Co Cos) continuously offered longer-term securities (COLTS) contractual claim conversion conversion option conversion parity price conversion premium conversion price conversion ratio conversion value convertibility clause convertible convertible bond convertible bond arbitrage convertible debenture convertible debt Convertible Eurobond convertible exchangeable preferred stock convertible price convertible security convertible subordinate note convex convexity corporate bond corporate bond equivalent corporate equivalent yield corporate taxable equivalent corporate trust corpus cost of money coupon coupon bond coupon equivalent yield (CEY) coupon pass coupon rate coupon yield covered bond credit analysis credit analyst credit market credit quality credit risk cross calling crossover credit crossover refunded cumulative liability current coupon bond current issue current market value current maturity current production rate current yield curve steepener trade cushion cushion bond CUSIP CUSIP number custodial receipt date of payment day count convention de minimis tax rule dealer market death spiral convertible death-backed bonds debenture debt debt capital Debt Ceiling debt financing debt fund debt instrument debt limit debt limitation debt market debt shelf debt tender offer debt to equity debt warrant debt-based asset debt-equity swap debt/equity ratio debtholder debtor deep-discount bond default premium default rate deferment period deferred interest bond definitive securities delayed annuity deleveraged floater deliverable bills delivery option delivery vs.

repayment denomination depository trust and clearing corporation Depository Trust Company derivative derivatives time bomb detachable warrant digested security direct access notes (DANs) direct issuer direct paper discount discount bond discount margin discounted discounted bond distribution date dollar bond dollar bond index linked securities (dollar BILS) dollar duration dollar price dollar roll domestic bond double exempt double tax-exemption doubling option downgrade Dragon Bond drawn securities droplock security dual currency bond dual currency issue dual currency swap dual listing due date duration duration gap duration matching strategy Dutch auction DV01 DVP DVR dwarf effective duration effective rate effective yield election period eleven bond index eligible paper embedded option Emerging Markets Bond Index (EMBI) empirical duration equity linked Eurobond equity premium puzzle (EPP) equity risk premium equity-linked note equivalent taxable yield escrowed to maturity Euro certificate of deposit (EURO CD) Euro medium term note Euro straight Eurobond Euroclear Eurodollar bond Euroequity issues European callable bond European Covered Bond Council (ECBC) Euroyen bond event risk event-linked bond ex-legal excess cash flow excess spread exchange exchange traded note exchangeable bond exchangeable debenture exchangeable security exempt income exempt security extendable bond extendible note extension swap external financing external funds external market extraordinary call face value face-amount certificate factor model fallen angel Fannie Mae federal agency bond federal agency securities federal bond Federal Home Loan Mortgage Corporation Federal National Mortgage Association Federal Reserve Bank Note FHLMC fidelity bond fiduciary bond finance financial instrument financial market financing flows fine paper first call date fiscal agent Fitch Investors Service Fitch Ratings fitch sheets five against bond spread (FAB) fixed income fixed income equivalent fixed income fund fixed income instruments fixed income unit investment trust fixed maturity plan fixed rate tax fixed-dollar obligations fixed-income arbitrage fixed-income assets fixed-income style box fixed-rate capital securities flat flat scale flat trades flat yield curve flight to quality flip-flop note floater floating supply floating-rate bond flow of funds flower bond FNMA forced conversion foreign bond market foreign crowd foreign currency convertible bond (FCCB) forward free bond freedom shares full full coupon bond full lot full price G7 bond general mortgage bond General Obligation Bond GIC gilt gilt edged bond Ginnie Mae Ginnie Mae pass-through global bond GNMA gnomes going away gold bond gold reserve good delivery Government Bond Government National Mortgage Association Government Paper government securities Government Securities Clearing Corporation grade graduated security grandfathered bond green bond gross revenue pledge GSCC guaranteed bond Guaranteed Investment Contract H hard call protection heavy market high yield high-coupon bond refunding high-grade bond high-premium convertible debenture high-yield bond spread high-yield financing hospital revenue bond housing bond hurricane bond hybrid instrument hybrid security I bonds Iceland Stock Exchange (ICEX) implied repo rate imputed interest rate in arrears in escrow inactive stock/bond income bond indemnity bond indenture independent investments index bond index model index-linked bond index-linked gilt index-linked savings certificate industrial bond Industrial Development Bond (IDB) industrial development revenue bonds (IDRBs) industrial revenue bond inflation-adjusted principal inflation-indexed security inflation-linked savings bond (I bond) inflation-proof security inflation-protected security (IPS) installment bond insurance bond insured bond interchangeable bond interest bearing investment interest coverage ratio interest rate collar interest rate differential (IRD) interest rate risk interest rate swap interest subsidy interest-bearing interest-elastic interest-inelastic interim certificate intermarket spread swap intermarket spread swaps intermediate bond intermediate-term international bond International Swaps and Derivatives Association interpolated yield curve (I curve) intramarket sector spread intrinsic value inverse floater inverse floating rate note inverted scale inverted yield curve invested capital investment bill investment grade debt instrument investment letter investment memorandum investment mix investment security investment value investment-grade bond Irish Stock Exchange (ISE) irredeemable bond irregular coupon ISIN issue issue date issuer Jakarta Stock Exchange (JSE) Japanese Government Bond joint bond jump Z-tranche junior junior note junior refunding junk bond kangaroo bond kicker kitchen sink bond law day law of one price Lehman Aggregate Bond Index Lehman Brothers Asset-Backed Securities Index Lehman Brothers government/corporate bond index Lehman Investment Opportunity Note (LION) letter security Level 1 asset Level 2 asset Level 3 asset level-coupon bond leveraged loan leveraging levered levered free cash flow Liberty Bond limitation on merger, consolidation, or sale limitation on sale-and-leaseback limitation on subsidiary borrowing limited risk limited tax bond limited-tax general obligation bond liquid theory of the term structure liquid yield option note liquidity agreement liquidity premium liquidity risk listed listing Little Board London Stock Exchange (LSE) Long Bond long coupon long position long-term long-term investor longevity bond longevity derivatives lost instrument bond low grade low-coupon bond refunding M-Camp Macaulay Duration maintenance and replacement call maintenance bond make-whole call provision mandatory redemption schedule mandatory sinking-fund redemption mandatory tender bond maple bond marginal cost of capital market basket market capitalization market conversion price market discount market index deposit (MID) market risk premium marketability marketable security marking up or down Marks-Roos bonds master notes matador bond matched maturities matrix trading matured matured non-interest-bearing debt maturity maturity basis maturity by maturity bidding (MBM) maturity date maturity gap maturity schedule maturity spread maturity value MBIA MBS MBS pool number medium-dated gilt medium-term medium-term bond medium-term note medium-term noteholder mezzanine debt Michael Milken minimum yield minus yield mob spread modified duration money market money market deposit account money market mutual fund Moody's Investment Grade (MIG) moral obligation bond mortgage bond mortgage cash flow obligation (MCFO) mortgage pass-through security mortgage pool mortgage revenue bond mortgage spread duration mortgage subsidy bond mortgage-backed certificate mortgage-backed security MTA Index multi-callable bond multiperiod immunization muni muni fund municipal bond municipal bond arbitrage municipal bond fund municipal bond index municipal bond insurance Municipal Bond Insurance Association municipal bond market municipal convertible municipal inflation linked securities municipal investment trust municipal note municipal over bond (MOB) spread municipal revenue bond municipal security Munifacts naked warrant name position bond National Market System near money negative arbitrage negative pledge clause negative yield curve negotiable security net debt to assessed valuation net debt to estimated valuation net interest cost (NIC) net revenue pledge new money New York Stock Exchange Nine-Bond Rule nob spread nominal nominal rate nominal yield non-callable non-callable bond non-interest-bearing note non-investment grade noncompetitive bid nondiversifiable risk nonrated nonrefundable normal yield curve not rated note note auction Notice of Sale NYSE obligation obligation bond obligor odd coupon off the run Treasury yield curve off-the-run Treasuries offer offering offering circular offering price offering scale official statement OID on the run Treasury yield curve on-the-run Treasuries open end indenture option-adjusted yield optional call optional payment bond original face original face value Original Issue Discount original maturity original-issue discount bond (OID) Oslo Bors (OSE) OTC Bulletin Board OTCBB out-of-favor outside financing outstanding Over-the-Counter PAC bond paper paper dealer par par bond par value par yield curve participating GIC participation certificate pass-through pass-through coupon rate passive bond patriot bond paying agent payment date payment-in-kind security pc performance bond period of digestion permanent financing perpetual floating-rate note perpetual warrant Pfandbriefe phantom income pickup pickup bond placement ratio plain vanilla point poison put policyholder loan bonds pool portfolio interest positive convexity positive yield curve preferred debt preferred redeemable increased dividend equity securities (PRIDES) preliminary official statement premium premium adjustable convertible security (PEACS) premium bond premium over bond value premium over conversion value premium put convertible prepayment speed prerefunding presale order price risk Price Value of a Basis Point price-based option primary distribution primary instrument primary offering prime paper prior lien bond private activity bond (PAB) private purpose bond private sector pass-through privileged bond project completion restriction proportional spread prospectus protective stop provisional call feature provisional rating public bond public housing authority bond public offering public purpose bond Public Securities Association Standard Prepayment Model (PSA Model) pulling in their horns purchase pure discount instrument pure yield pickup swap put bond put provision PVBP qualified legal opinion quality spread quotation quote rate anticipation swap rate covenant rate trigger rating rating service re-offer price Real Estate Mortgage Investment Conduit rebate recapitalization redeem redeemable redeemable bond redemption redemption date redemption price refund refunding refunding escrows deposits (REDS) refunding risk registered bond registered coupon bond registered security registrar regular-way delivery remaining maturity REMIC rentier reorganization bond repayment terms required yield reset bonds Residential Mortgage-Backed Security residual interest bond (RIB) residual security restricted security retail note retire retractable bond return revenue anticipation note revenue bond reverse convertible bond reverse convertible note (RCN) reverse swap revolving underwriting facility (RUF) risk risk-free asset risk-free rate puzzle (RFRP) risk-free return riskless asset riskless rate of return roll-down return round lot rundown Savings Bond savings bond plan scrip scripophily seasoning SEC SEC filing secondary distribution secondary market secondary offering secured bond securities Securities and Exchange Commission Securities Industry and Financial Markets Association security self-liquidating bond self-supporting bond self-supporting debt sell selling flat semi-annual bond basis (SABB) SENAF senior refunding sentiment serial bond serial bond with balloon serial redemption series bond Series E bond Series EE bond Series HH bond Series I Bond shadow rating shelf offering shelf registration short bond short coupon short-term short-term bond fund short-term debt short-term funding short-term reserves sideways sinkable bond sinker sinking fund sinking fund call SIX Swiss Exchange sour bond sovereign debt special assessment bond special bond account special miscellaneous account special-purpose bond speculative debt instrument split coupon bond split offering split rating spot rate spot rate Treasury curve spot yield curve spread duration spread to worst spreadlock staggered maturities stamped security stated maturity step down note step-up bond stepped coupon bond sterling warrant into gilt-edged stock stock buyback stop-out price straight bond straight value strip strippable bond stripped coupon stripped yield structured note structured yield product exchangeable for stock (STRYPES) Student Loan Marketing Association sub-sovereign obligation (SSO) subordinated subordinated bonds subordinated debenture bond subscription warrant substantially identical security substitution bond swap substitution swap super senior super sinker bond surety surety bond swap dealer swap reversal sweetener systematic risk T-Bill TAC bond targeted accrual redemption note (TARN) targeted amortization class bond tax anticipation note tax renevue anticipation note tax-exempt bond tax-exempt security tax-free bond taxable bond taxable municipal bond ten percent guideline term term bond term to maturity terminal value territory bond thirty-day visible supply TIPS toggle note toll revenue bond ton total bond fund total return swap trade trading tranche transportation bond Treasuries Treasury auction Treasury Bill Treasury Bond Treasury Direct Treasury Inflation-Protected Security treasury investment growth receipt (TIGR) Treasury Investment Growth Receipts (TIGRs) Treasury real yield curve Treasury real yield curve rates Treasury receipt treasury yield Treasury yield curve triple exemption triple tax exempt Trust Indenture Act of 1939 trust-preferred security twenty bond index twenty-five percent rule twenty-percent cushion rule U.

That is both an investment issue and a tax question. Today, at age 62, Ingrid’s ,500 income monthly before tax consists of ,600 from her defined benefit pension, 0 from her defined contribution pension plan, 0 from the Canada Pension Plan discounted for an early start and

In three years, Ingrid can apply for Old Age Security, currently $6,942 per year. Her largest cost is her $1,260 monthly mortgage payment.

10% guideline 10-Q 10-Year Treasury Note 20% cushion rule 25% rule 30-Year Treasury 501-(C)(3) bond A rating A2/P2 spread AA rating AAA rating above par absolute priority rule absolute rate access bond accreted value accretion of discount accrual bond accrual of discount accrued discount accrued interest accrued market discount accumulated interest accumulation bond acknowledge active bond active bond crowd active management active tranche additional bonds test adjusted exercise price adjustment bond ADP advance payment bond advance refunding affirmative covenant after-tax basis after-tax return agency bond aggregate risk airbag swap airport revenue bond all weather fund allocation alpha generator American Municipal Bond Assurance Corporation American Stock Exchange AMEX amortization of premium amortized bond amortized value amortizing interest rate swap amortizing security anticipation note any-interest-date call arbitrage bond arrearage arrears arrears swap Asian Bond Market Initiative (ABMI) ask asked price asking price assessment bond asset allocation asset backed commercial paper asset class breakdown asset coverage asset swap asset swapped convertible option transaction asset-backed security asset-coverage test asset-swap spread assignment form Association of International Bond Dealers (AIBD) assumed bond at par auction auction rate auction rate securities (ARS) Australian stock price riskless indexed note (ASPIRIN) authority bond automated bond system average discount rate average duration average effective duration average effective maturity average nominal maturity average weighted maturity axe B rating baby bond baccalaureate bond backdoor borrowing backup line bailment bailout bond balanced fund balloon interest balloon maturity bank anticipation note (BAN) bank-eligible issues Barron's Confidence Index basis book basket BB rating BBB rating bear flattener bear steepener bearer bearer bond bearer instrument bellwether below par benchmark bond benchmark interest rate best ask best bid bid bid bond bid-to-cover ratio bid/ask spread Bill bill announcement bill auction bill pass blanket bond blanket fidelity bond blanket honesty bond blanket position bond blend fund blended yield to maturity block block positioner block trade Blue List Bolsa De Madrid Bolsa Mexicana De Valores Bolsas Y Mercados Espanoles bond bond agreement bond anticipation note bond attorney bond basis book bond broker Bond Buyer Bond Buyer 11 Bond Buyer 20 Bond Buyer Index Bond Buyer's Municipal Bond Index bond calendar bond certificate bond circular bond conversion bond counsel bond crowd bond discount bond dividend bond equity earnings yield ratio (BEER) bond equivalent yield Bond ETF bond floor bond for bond lending bond fund bond futures bond holder bond indenture bond index bond indexing bond issue bond laddering bond ladders bond market Bond Market Association Bond Market Association (BMA) swap bond market index bond mutual fund bond option bond ordinance bond point bond power bond premium bond price elasticity bond quote bond rating bond ratio bond resolution bond risk premium bond spread bond swap bond trustee bond valuation bond value bonded bonded debt bondholder bonds enabling annual retirement savings (BEARS) bonds payable book-entry security Borsa Italiana Brady bond Build America Bonds (BABs) builder's bonds bull and bear bonds bull bond bulldog bond bullet bond bullet contract bunny bond Bureau of Public Debt business risk busted bond busted convertible butterfly shift buy buyback C rating cabinet crowd cabinet security cabinet trade calculation agent call call date call price call protection call provision call risk callable callable bond called away called bond Canada Premium Bond (CPB) Canada savings bond Canadian Originated Preferred Securities (COPr S) canary call cap capital market capital market efficiency capital structure capitalization capitalization ratio capped note cash bond cash equivalents cash in cash plus convertible cash reserves CAT bond catastrophe bond catastrophe call CBO CC rating CCC rating certificate certificate in investment performance management (CIPM) certificate of accrual on treasury securities Certificate of Government Receipts (COUGRs) Certificate of Participation certificateless municipal bond Certificates for Amortizing Revolving Debts certificates of accrual on treasury securities (CATS) chart chastity bond chattel mortgage bond circular citizen bond class Clinton bond CLO closed period closed-end indenture CMO Co Co Bonds collar collateral trust certificate Collateralized Bond Obligation collateralized debt obligation Collateralized Mortgage Obligation Collaterized Loan Obligation COLTS combination bond combination matching commercial mortgage-backed security commercial paper Commercial Paper Funding Facility Committee on Uniform Securities Identification Procedures Commodity Research Bureau Index (CRB) commodity-backed bond common stock equivalent companion bonds conditional call option conduit bond consol consolidated bond consolidated mortgage bond constant maturity treasury constant yield method construction bond construction loan note consumer debenture contagion contingent convertibles (Co Cos) continuously offered longer-term securities (COLTS) contractual claim conversion conversion option conversion parity price conversion premium conversion price conversion ratio conversion value convertibility clause convertible convertible bond convertible bond arbitrage convertible debenture convertible debt Convertible Eurobond convertible exchangeable preferred stock convertible price convertible security convertible subordinate note convex convexity corporate bond corporate bond equivalent corporate equivalent yield corporate taxable equivalent corporate trust corpus cost of money coupon coupon bond coupon equivalent yield (CEY) coupon pass coupon rate coupon yield covered bond credit analysis credit analyst credit market credit quality credit risk cross calling crossover credit crossover refunded cumulative liability current coupon bond current issue current market value current maturity current production rate current yield curve steepener trade cushion cushion bond CUSIP CUSIP number custodial receipt date of payment day count convention de minimis tax rule dealer market death spiral convertible death-backed bonds debenture debt debt capital Debt Ceiling debt financing debt fund debt instrument debt limit debt limitation debt market debt shelf debt tender offer debt to equity debt warrant debt-based asset debt-equity swap debt/equity ratio debtholder debtor deep-discount bond default premium default rate deferment period deferred interest bond definitive securities delayed annuity deleveraged floater deliverable bills delivery option delivery vs.

repayment denomination depository trust and clearing corporation Depository Trust Company derivative derivatives time bomb detachable warrant digested security direct access notes (DANs) direct issuer direct paper discount discount bond discount margin discounted discounted bond distribution date dollar bond dollar bond index linked securities (dollar BILS) dollar duration dollar price dollar roll domestic bond double exempt double tax-exemption doubling option downgrade Dragon Bond drawn securities droplock security dual currency bond dual currency issue dual currency swap dual listing due date duration duration gap duration matching strategy Dutch auction DV01 DVP DVR dwarf effective duration effective rate effective yield election period eleven bond index eligible paper embedded option Emerging Markets Bond Index (EMBI) empirical duration equity linked Eurobond equity premium puzzle (EPP) equity risk premium equity-linked note equivalent taxable yield escrowed to maturity Euro certificate of deposit (EURO CD) Euro medium term note Euro straight Eurobond Euroclear Eurodollar bond Euroequity issues European callable bond European Covered Bond Council (ECBC) Euroyen bond event risk event-linked bond ex-legal excess cash flow excess spread exchange exchange traded note exchangeable bond exchangeable debenture exchangeable security exempt income exempt security extendable bond extendible note extension swap external financing external funds external market extraordinary call face value face-amount certificate factor model fallen angel Fannie Mae federal agency bond federal agency securities federal bond Federal Home Loan Mortgage Corporation Federal National Mortgage Association Federal Reserve Bank Note FHLMC fidelity bond fiduciary bond finance financial instrument financial market financing flows fine paper first call date fiscal agent Fitch Investors Service Fitch Ratings fitch sheets five against bond spread (FAB) fixed income fixed income equivalent fixed income fund fixed income instruments fixed income unit investment trust fixed maturity plan fixed rate tax fixed-dollar obligations fixed-income arbitrage fixed-income assets fixed-income style box fixed-rate capital securities flat flat scale flat trades flat yield curve flight to quality flip-flop note floater floating supply floating-rate bond flow of funds flower bond FNMA forced conversion foreign bond market foreign crowd foreign currency convertible bond (FCCB) forward free bond freedom shares full full coupon bond full lot full price G7 bond general mortgage bond General Obligation Bond GIC gilt gilt edged bond Ginnie Mae Ginnie Mae pass-through global bond GNMA gnomes going away gold bond gold reserve good delivery Government Bond Government National Mortgage Association Government Paper government securities Government Securities Clearing Corporation grade graduated security grandfathered bond green bond gross revenue pledge GSCC guaranteed bond Guaranteed Investment Contract H hard call protection heavy market high yield high-coupon bond refunding high-grade bond high-premium convertible debenture high-yield bond spread high-yield financing hospital revenue bond housing bond hurricane bond hybrid instrument hybrid security I bonds Iceland Stock Exchange (ICEX) implied repo rate imputed interest rate in arrears in escrow inactive stock/bond income bond indemnity bond indenture independent investments index bond index model index-linked bond index-linked gilt index-linked savings certificate industrial bond Industrial Development Bond (IDB) industrial development revenue bonds (IDRBs) industrial revenue bond inflation-adjusted principal inflation-indexed security inflation-linked savings bond (I bond) inflation-proof security inflation-protected security (IPS) installment bond insurance bond insured bond interchangeable bond interest bearing investment interest coverage ratio interest rate collar interest rate differential (IRD) interest rate risk interest rate swap interest subsidy interest-bearing interest-elastic interest-inelastic interim certificate intermarket spread swap intermarket spread swaps intermediate bond intermediate-term international bond International Swaps and Derivatives Association interpolated yield curve (I curve) intramarket sector spread intrinsic value inverse floater inverse floating rate note inverted scale inverted yield curve invested capital investment bill investment grade debt instrument investment letter investment memorandum investment mix investment security investment value investment-grade bond Irish Stock Exchange (ISE) irredeemable bond irregular coupon ISIN issue issue date issuer Jakarta Stock Exchange (JSE) Japanese Government Bond joint bond jump Z-tranche junior junior note junior refunding junk bond kangaroo bond kicker kitchen sink bond law day law of one price Lehman Aggregate Bond Index Lehman Brothers Asset-Backed Securities Index Lehman Brothers government/corporate bond index Lehman Investment Opportunity Note (LION) letter security Level 1 asset Level 2 asset Level 3 asset level-coupon bond leveraged loan leveraging levered levered free cash flow Liberty Bond limitation on merger, consolidation, or sale limitation on sale-and-leaseback limitation on subsidiary borrowing limited risk limited tax bond limited-tax general obligation bond liquid theory of the term structure liquid yield option note liquidity agreement liquidity premium liquidity risk listed listing Little Board London Stock Exchange (LSE) Long Bond long coupon long position long-term long-term investor longevity bond longevity derivatives lost instrument bond low grade low-coupon bond refunding M-Camp Macaulay Duration maintenance and replacement call maintenance bond make-whole call provision mandatory redemption schedule mandatory sinking-fund redemption mandatory tender bond maple bond marginal cost of capital market basket market capitalization market conversion price market discount market index deposit (MID) market risk premium marketability marketable security marking up or down Marks-Roos bonds master notes matador bond matched maturities matrix trading matured matured non-interest-bearing debt maturity maturity basis maturity by maturity bidding (MBM) maturity date maturity gap maturity schedule maturity spread maturity value MBIA MBS MBS pool number medium-dated gilt medium-term medium-term bond medium-term note medium-term noteholder mezzanine debt Michael Milken minimum yield minus yield mob spread modified duration money market money market deposit account money market mutual fund Moody's Investment Grade (MIG) moral obligation bond mortgage bond mortgage cash flow obligation (MCFO) mortgage pass-through security mortgage pool mortgage revenue bond mortgage spread duration mortgage subsidy bond mortgage-backed certificate mortgage-backed security MTA Index multi-callable bond multiperiod immunization muni muni fund municipal bond municipal bond arbitrage municipal bond fund municipal bond index municipal bond insurance Municipal Bond Insurance Association municipal bond market municipal convertible municipal inflation linked securities municipal investment trust municipal note municipal over bond (MOB) spread municipal revenue bond municipal security Munifacts naked warrant name position bond National Market System near money negative arbitrage negative pledge clause negative yield curve negotiable security net debt to assessed valuation net debt to estimated valuation net interest cost (NIC) net revenue pledge new money New York Stock Exchange Nine-Bond Rule nob spread nominal nominal rate nominal yield non-callable non-callable bond non-interest-bearing note non-investment grade noncompetitive bid nondiversifiable risk nonrated nonrefundable normal yield curve not rated note note auction Notice of Sale NYSE obligation obligation bond obligor odd coupon off the run Treasury yield curve off-the-run Treasuries offer offering offering circular offering price offering scale official statement OID on the run Treasury yield curve on-the-run Treasuries open end indenture option-adjusted yield optional call optional payment bond original face original face value Original Issue Discount original maturity original-issue discount bond (OID) Oslo Bors (OSE) OTC Bulletin Board OTCBB out-of-favor outside financing outstanding Over-the-Counter PAC bond paper paper dealer par par bond par value par yield curve participating GIC participation certificate pass-through pass-through coupon rate passive bond patriot bond paying agent payment date payment-in-kind security pc performance bond period of digestion permanent financing perpetual floating-rate note perpetual warrant Pfandbriefe phantom income pickup pickup bond placement ratio plain vanilla point poison put policyholder loan bonds pool portfolio interest positive convexity positive yield curve preferred debt preferred redeemable increased dividend equity securities (PRIDES) preliminary official statement premium premium adjustable convertible security (PEACS) premium bond premium over bond value premium over conversion value premium put convertible prepayment speed prerefunding presale order price risk Price Value of a Basis Point price-based option primary distribution primary instrument primary offering prime paper prior lien bond private activity bond (PAB) private purpose bond private sector pass-through privileged bond project completion restriction proportional spread prospectus protective stop provisional call feature provisional rating public bond public housing authority bond public offering public purpose bond Public Securities Association Standard Prepayment Model (PSA Model) pulling in their horns purchase pure discount instrument pure yield pickup swap put bond put provision PVBP qualified legal opinion quality spread quotation quote rate anticipation swap rate covenant rate trigger rating rating service re-offer price Real Estate Mortgage Investment Conduit rebate recapitalization redeem redeemable redeemable bond redemption redemption date redemption price refund refunding refunding escrows deposits (REDS) refunding risk registered bond registered coupon bond registered security registrar regular-way delivery remaining maturity REMIC rentier reorganization bond repayment terms required yield reset bonds Residential Mortgage-Backed Security residual interest bond (RIB) residual security restricted security retail note retire retractable bond return revenue anticipation note revenue bond reverse convertible bond reverse convertible note (RCN) reverse swap revolving underwriting facility (RUF) risk risk-free asset risk-free rate puzzle (RFRP) risk-free return riskless asset riskless rate of return roll-down return round lot rundown Savings Bond savings bond plan scrip scripophily seasoning SEC SEC filing secondary distribution secondary market secondary offering secured bond securities Securities and Exchange Commission Securities Industry and Financial Markets Association security self-liquidating bond self-supporting bond self-supporting debt sell selling flat semi-annual bond basis (SABB) SENAF senior refunding sentiment serial bond serial bond with balloon serial redemption series bond Series E bond Series EE bond Series HH bond Series I Bond shadow rating shelf offering shelf registration short bond short coupon short-term short-term bond fund short-term debt short-term funding short-term reserves sideways sinkable bond sinker sinking fund sinking fund call SIX Swiss Exchange sour bond sovereign debt special assessment bond special bond account special miscellaneous account special-purpose bond speculative debt instrument split coupon bond split offering split rating spot rate spot rate Treasury curve spot yield curve spread duration spread to worst spreadlock staggered maturities stamped security stated maturity step down note step-up bond stepped coupon bond sterling warrant into gilt-edged stock stock buyback stop-out price straight bond straight value strip strippable bond stripped coupon stripped yield structured note structured yield product exchangeable for stock (STRYPES) Student Loan Marketing Association sub-sovereign obligation (SSO) subordinated subordinated bonds subordinated debenture bond subscription warrant substantially identical security substitution bond swap substitution swap super senior super sinker bond surety surety bond swap dealer swap reversal sweetener systematic risk T-Bill TAC bond targeted accrual redemption note (TARN) targeted amortization class bond tax anticipation note tax renevue anticipation note tax-exempt bond tax-exempt security tax-free bond taxable bond taxable municipal bond ten percent guideline term term bond term to maturity terminal value territory bond thirty-day visible supply TIPS toggle note toll revenue bond ton total bond fund total return swap trade trading tranche transportation bond Treasuries Treasury auction Treasury Bill Treasury Bond Treasury Direct Treasury Inflation-Protected Security treasury investment growth receipt (TIGR) Treasury Investment Growth Receipts (TIGRs) Treasury real yield curve Treasury real yield curve rates Treasury receipt treasury yield Treasury yield curve triple exemption triple tax exempt Trust Indenture Act of 1939 trust-preferred security twenty bond index twenty-five percent rule twenty-percent cushion rule U.

That is both an investment issue and a tax question. Today, at age 62, Ingrid’s $4,500 income monthly before tax consists of $2,600 from her defined benefit pension, $200 from her defined contribution pension plan, $700 from the Canada Pension Plan discounted for an early start and $1,000 rental income. If she starts now, her federal marginal rate will be 20.5 per cent and her provincial marginal rate 13 per cent. Ingrid can start making RRSP withdrawals now, withdrawing perhaps $7,000 a year, and thus average her income after 65 when OAS starts at a present rate of $6,942 a year.

Ingrid can look forward to indexation on her defined benefit public service pension, currently $27,360 per year. After 65, she can add Old Age Security at $579 per month, making total gross income $5,079 per month. Better, split RRSP withdrawals to $25,000 per year this year and next, Moran advises. It’s an effective use of the money and given Ingrid’s lack of experience with investments, it is a conservative choice, Moran adds.“Her financial choices and her personal situation can resolve each other,” Moran says.

||

In three years, Ingrid can apply for Old Age Security, currently $6,942 per year. Her largest cost is her $1,260 monthly mortgage payment.10% guideline 10-Q 10-Year Treasury Note 20% cushion rule 25% rule 30-Year Treasury 501-(C)(3) bond A rating A2/P2 spread AA rating AAA rating above par absolute priority rule absolute rate access bond accreted value accretion of discount accrual bond accrual of discount accrued discount accrued interest accrued market discount accumulated interest accumulation bond acknowledge active bond active bond crowd active management active tranche additional bonds test adjusted exercise price adjustment bond ADP advance payment bond advance refunding affirmative covenant after-tax basis after-tax return agency bond aggregate risk airbag swap airport revenue bond all weather fund allocation alpha generator American Municipal Bond Assurance Corporation American Stock Exchange AMEX amortization of premium amortized bond amortized value amortizing interest rate swap amortizing security anticipation note any-interest-date call arbitrage bond arrearage arrears arrears swap Asian Bond Market Initiative (ABMI) ask asked price asking price assessment bond asset allocation asset backed commercial paper asset class breakdown asset coverage asset swap asset swapped convertible option transaction asset-backed security asset-coverage test asset-swap spread assignment form Association of International Bond Dealers (AIBD) assumed bond at par auction auction rate auction rate securities (ARS) Australian stock price riskless indexed note (ASPIRIN) authority bond automated bond system average discount rate average duration average effective duration average effective maturity average nominal maturity average weighted maturity axe B rating baby bond baccalaureate bond backdoor borrowing backup line bailment bailout bond balanced fund balloon interest balloon maturity bank anticipation note (BAN) bank-eligible issues Barron's Confidence Index basis book basket BB rating BBB rating bear flattener bear steepener bearer bearer bond bearer instrument bellwether below par benchmark bond benchmark interest rate best ask best bid bid bid bond bid-to-cover ratio bid/ask spread Bill bill announcement bill auction bill pass blanket bond blanket fidelity bond blanket honesty bond blanket position bond blend fund blended yield to maturity block block positioner block trade Blue List Bolsa De Madrid Bolsa Mexicana De Valores Bolsas Y Mercados Espanoles bond bond agreement bond anticipation note bond attorney bond basis book bond broker Bond Buyer Bond Buyer 11 Bond Buyer 20 Bond Buyer Index Bond Buyer's Municipal Bond Index bond calendar bond certificate bond circular bond conversion bond counsel bond crowd bond discount bond dividend bond equity earnings yield ratio (BEER) bond equivalent yield Bond ETF bond floor bond for bond lending bond fund bond futures bond holder bond indenture bond index bond indexing bond issue bond laddering bond ladders bond market Bond Market Association Bond Market Association (BMA) swap bond market index bond mutual fund bond option bond ordinance bond point bond power bond premium bond price elasticity bond quote bond rating bond ratio bond resolution bond risk premium bond spread bond swap bond trustee bond valuation bond value bonded bonded debt bondholder bonds enabling annual retirement savings (BEARS) bonds payable book-entry security Borsa Italiana Brady bond Build America Bonds (BABs) builder's bonds bull and bear bonds bull bond bulldog bond bullet bond bullet contract bunny bond Bureau of Public Debt business risk busted bond busted convertible butterfly shift buy buyback C rating cabinet crowd cabinet security cabinet trade calculation agent call call date call price call protection call provision call risk callable callable bond called away called bond Canada Premium Bond (CPB) Canada savings bond Canadian Originated Preferred Securities (COPr S) canary call cap capital market capital market efficiency capital structure capitalization capitalization ratio capped note cash bond cash equivalents cash in cash plus convertible cash reserves CAT bond catastrophe bond catastrophe call CBO CC rating CCC rating certificate certificate in investment performance management (CIPM) certificate of accrual on treasury securities Certificate of Government Receipts (COUGRs) Certificate of Participation certificateless municipal bond Certificates for Amortizing Revolving Debts certificates of accrual on treasury securities (CATS) chart chastity bond chattel mortgage bond circular citizen bond class Clinton bond CLO closed period closed-end indenture CMO Co Co Bonds collar collateral trust certificate Collateralized Bond Obligation collateralized debt obligation Collateralized Mortgage Obligation Collaterized Loan Obligation COLTS combination bond combination matching commercial mortgage-backed security commercial paper Commercial Paper Funding Facility Committee on Uniform Securities Identification Procedures Commodity Research Bureau Index (CRB) commodity-backed bond common stock equivalent companion bonds conditional call option conduit bond consol consolidated bond consolidated mortgage bond constant maturity treasury constant yield method construction bond construction loan note consumer debenture contagion contingent convertibles (Co Cos) continuously offered longer-term securities (COLTS) contractual claim conversion conversion option conversion parity price conversion premium conversion price conversion ratio conversion value convertibility clause convertible convertible bond convertible bond arbitrage convertible debenture convertible debt Convertible Eurobond convertible exchangeable preferred stock convertible price convertible security convertible subordinate note convex convexity corporate bond corporate bond equivalent corporate equivalent yield corporate taxable equivalent corporate trust corpus cost of money coupon coupon bond coupon equivalent yield (CEY) coupon pass coupon rate coupon yield covered bond credit analysis credit analyst credit market credit quality credit risk cross calling crossover credit crossover refunded cumulative liability current coupon bond current issue current market value current maturity current production rate current yield curve steepener trade cushion cushion bond CUSIP CUSIP number custodial receipt date of payment day count convention de minimis tax rule dealer market death spiral convertible death-backed bonds debenture debt debt capital Debt Ceiling debt financing debt fund debt instrument debt limit debt limitation debt market debt shelf debt tender offer debt to equity debt warrant debt-based asset debt-equity swap debt/equity ratio debtholder debtor deep-discount bond default premium default rate deferment period deferred interest bond definitive securities delayed annuity deleveraged floater deliverable bills delivery option delivery vs. repayment denomination depository trust and clearing corporation Depository Trust Company derivative derivatives time bomb detachable warrant digested security direct access notes (DANs) direct issuer direct paper discount discount bond discount margin discounted discounted bond distribution date dollar bond dollar bond index linked securities (dollar BILS) dollar duration dollar price dollar roll domestic bond double exempt double tax-exemption doubling option downgrade Dragon Bond drawn securities droplock security dual currency bond dual currency issue dual currency swap dual listing due date duration duration gap duration matching strategy Dutch auction DV01 DVP DVR dwarf effective duration effective rate effective yield election period eleven bond index eligible paper embedded option Emerging Markets Bond Index (EMBI) empirical duration equity linked Eurobond equity premium puzzle (EPP) equity risk premium equity-linked note equivalent taxable yield escrowed to maturity Euro certificate of deposit (EURO CD) Euro medium term note Euro straight Eurobond Euroclear Eurodollar bond Euroequity issues European callable bond European Covered Bond Council (ECBC) Euroyen bond event risk event-linked bond ex-legal excess cash flow excess spread exchange exchange traded note exchangeable bond exchangeable debenture exchangeable security exempt income exempt security extendable bond extendible note extension swap external financing external funds external market extraordinary call face value face-amount certificate factor model fallen angel Fannie Mae federal agency bond federal agency securities federal bond Federal Home Loan Mortgage Corporation Federal National Mortgage Association Federal Reserve Bank Note FHLMC fidelity bond fiduciary bond finance financial instrument financial market financing flows fine paper first call date fiscal agent Fitch Investors Service Fitch Ratings fitch sheets five against bond spread (FAB) fixed income fixed income equivalent fixed income fund fixed income instruments fixed income unit investment trust fixed maturity plan fixed rate tax fixed-dollar obligations fixed-income arbitrage fixed-income assets fixed-income style box fixed-rate capital securities flat flat scale flat trades flat yield curve flight to quality flip-flop note floater floating supply floating-rate bond flow of funds flower bond FNMA forced conversion foreign bond market foreign crowd foreign currency convertible bond (FCCB) forward free bond freedom shares full full coupon bond full lot full price G7 bond general mortgage bond General Obligation Bond GIC gilt gilt edged bond Ginnie Mae Ginnie Mae pass-through global bond GNMA gnomes going away gold bond gold reserve good delivery Government Bond Government National Mortgage Association Government Paper government securities Government Securities Clearing Corporation grade graduated security grandfathered bond green bond gross revenue pledge GSCC guaranteed bond Guaranteed Investment Contract H hard call protection heavy market high yield high-coupon bond refunding high-grade bond high-premium convertible debenture high-yield bond spread high-yield financing hospital revenue bond housing bond hurricane bond hybrid instrument hybrid security I bonds Iceland Stock Exchange (ICEX) implied repo rate imputed interest rate in arrears in escrow inactive stock/bond income bond indemnity bond indenture independent investments index bond index model index-linked bond index-linked gilt index-linked savings certificate industrial bond Industrial Development Bond (IDB) industrial development revenue bonds (IDRBs) industrial revenue bond inflation-adjusted principal inflation-indexed security inflation-linked savings bond (I bond) inflation-proof security inflation-protected security (IPS) installment bond insurance bond insured bond interchangeable bond interest bearing investment interest coverage ratio interest rate collar interest rate differential (IRD) interest rate risk interest rate swap interest subsidy interest-bearing interest-elastic interest-inelastic interim certificate intermarket spread swap intermarket spread swaps intermediate bond intermediate-term international bond International Swaps and Derivatives Association interpolated yield curve (I curve) intramarket sector spread intrinsic value inverse floater inverse floating rate note inverted scale inverted yield curve invested capital investment bill investment grade debt instrument investment letter investment memorandum investment mix investment security investment value investment-grade bond Irish Stock Exchange (ISE) irredeemable bond irregular coupon ISIN issue issue date issuer Jakarta Stock Exchange (JSE) Japanese Government Bond joint bond jump Z-tranche junior junior note junior refunding junk bond kangaroo bond kicker kitchen sink bond law day law of one price Lehman Aggregate Bond Index Lehman Brothers Asset-Backed Securities Index Lehman Brothers government/corporate bond index Lehman Investment Opportunity Note (LION) letter security Level 1 asset Level 2 asset Level 3 asset level-coupon bond leveraged loan leveraging levered levered free cash flow Liberty Bond limitation on merger, consolidation, or sale limitation on sale-and-leaseback limitation on subsidiary borrowing limited risk limited tax bond limited-tax general obligation bond liquid theory of the term structure liquid yield option note liquidity agreement liquidity premium liquidity risk listed listing Little Board London Stock Exchange (LSE) Long Bond long coupon long position long-term long-term investor longevity bond longevity derivatives lost instrument bond low grade low-coupon bond refunding M-Camp Macaulay Duration maintenance and replacement call maintenance bond make-whole call provision mandatory redemption schedule mandatory sinking-fund redemption mandatory tender bond maple bond marginal cost of capital market basket market capitalization market conversion price market discount market index deposit (MID) market risk premium marketability marketable security marking up or down Marks-Roos bonds master notes matador bond matched maturities matrix trading matured matured non-interest-bearing debt maturity maturity basis maturity by maturity bidding (MBM) maturity date maturity gap maturity schedule maturity spread maturity value MBIA MBS MBS pool number medium-dated gilt medium-term medium-term bond medium-term note medium-term noteholder mezzanine debt Michael Milken minimum yield minus yield mob spread modified duration money market money market deposit account money market mutual fund Moody's Investment Grade (MIG) moral obligation bond mortgage bond mortgage cash flow obligation (MCFO) mortgage pass-through security mortgage pool mortgage revenue bond mortgage spread duration mortgage subsidy bond mortgage-backed certificate mortgage-backed security MTA Index multi-callable bond multiperiod immunization muni muni fund municipal bond municipal bond arbitrage municipal bond fund municipal bond index municipal bond insurance Municipal Bond Insurance Association municipal bond market municipal convertible municipal inflation linked securities municipal investment trust municipal note municipal over bond (MOB) spread municipal revenue bond municipal security Munifacts naked warrant name position bond National Market System near money negative arbitrage negative pledge clause negative yield curve negotiable security net debt to assessed valuation net debt to estimated valuation net interest cost (NIC) net revenue pledge new money New York Stock Exchange Nine-Bond Rule nob spread nominal nominal rate nominal yield non-callable non-callable bond non-interest-bearing note non-investment grade noncompetitive bid nondiversifiable risk nonrated nonrefundable normal yield curve not rated note note auction Notice of Sale NYSE obligation obligation bond obligor odd coupon off the run Treasury yield curve off-the-run Treasuries offer offering offering circular offering price offering scale official statement OID on the run Treasury yield curve on-the-run Treasuries open end indenture option-adjusted yield optional call optional payment bond original face original face value Original Issue Discount original maturity original-issue discount bond (OID) Oslo Bors (OSE) OTC Bulletin Board OTCBB out-of-favor outside financing outstanding Over-the-Counter PAC bond paper paper dealer par par bond par value par yield curve participating GIC participation certificate pass-through pass-through coupon rate passive bond patriot bond paying agent payment date payment-in-kind security pc performance bond period of digestion permanent financing perpetual floating-rate note perpetual warrant Pfandbriefe phantom income pickup pickup bond placement ratio plain vanilla point poison put policyholder loan bonds pool portfolio interest positive convexity positive yield curve preferred debt preferred redeemable increased dividend equity securities (PRIDES) preliminary official statement premium premium adjustable convertible security (PEACS) premium bond premium over bond value premium over conversion value premium put convertible prepayment speed prerefunding presale order price risk Price Value of a Basis Point price-based option primary distribution primary instrument primary offering prime paper prior lien bond private activity bond (PAB) private purpose bond private sector pass-through privileged bond project completion restriction proportional spread prospectus protective stop provisional call feature provisional rating public bond public housing authority bond public offering public purpose bond Public Securities Association Standard Prepayment Model (PSA Model) pulling in their horns purchase pure discount instrument pure yield pickup swap put bond put provision PVBP qualified legal opinion quality spread quotation quote rate anticipation swap rate covenant rate trigger rating rating service re-offer price Real Estate Mortgage Investment Conduit rebate recapitalization redeem redeemable redeemable bond redemption redemption date redemption price refund refunding refunding escrows deposits (REDS) refunding risk registered bond registered coupon bond registered security registrar regular-way delivery remaining maturity REMIC rentier reorganization bond repayment terms required yield reset bonds Residential Mortgage-Backed Security residual interest bond (RIB) residual security restricted security retail note retire retractable bond return revenue anticipation note revenue bond reverse convertible bond reverse convertible note (RCN) reverse swap revolving underwriting facility (RUF) risk risk-free asset risk-free rate puzzle (RFRP) risk-free return riskless asset riskless rate of return roll-down return round lot rundown Savings Bond savings bond plan scrip scripophily seasoning SEC SEC filing secondary distribution secondary market secondary offering secured bond securities Securities and Exchange Commission Securities Industry and Financial Markets Association security self-liquidating bond self-supporting bond self-supporting debt sell selling flat semi-annual bond basis (SABB) SENAF senior refunding sentiment serial bond serial bond with balloon serial redemption series bond Series E bond Series EE bond Series HH bond Series I Bond shadow rating shelf offering shelf registration short bond short coupon short-term short-term bond fund short-term debt short-term funding short-term reserves sideways sinkable bond sinker sinking fund sinking fund call SIX Swiss Exchange sour bond sovereign debt special assessment bond special bond account special miscellaneous account special-purpose bond speculative debt instrument split coupon bond split offering split rating spot rate spot rate Treasury curve spot yield curve spread duration spread to worst spreadlock staggered maturities stamped security stated maturity step down note step-up bond stepped coupon bond sterling warrant into gilt-edged stock stock buyback stop-out price straight bond straight value strip strippable bond stripped coupon stripped yield structured note structured yield product exchangeable for stock (STRYPES) Student Loan Marketing Association sub-sovereign obligation (SSO) subordinated subordinated bonds subordinated debenture bond subscription warrant substantially identical security substitution bond swap substitution swap super senior super sinker bond surety surety bond swap dealer swap reversal sweetener systematic risk T-Bill TAC bond targeted accrual redemption note (TARN) targeted amortization class bond tax anticipation note tax renevue anticipation note tax-exempt bond tax-exempt security tax-free bond taxable bond taxable municipal bond ten percent guideline term term bond term to maturity terminal value territory bond thirty-day visible supply TIPS toggle note toll revenue bond ton total bond fund total return swap trade trading tranche transportation bond Treasuries Treasury auction Treasury Bill Treasury Bond Treasury Direct Treasury Inflation-Protected Security treasury investment growth receipt (TIGR) Treasury Investment Growth Receipts (TIGRs) Treasury real yield curve Treasury real yield curve rates Treasury receipt treasury yield Treasury yield curve triple exemption triple tax exempt Trust Indenture Act of 1939 trust-preferred security twenty bond index twenty-five percent rule twenty-percent cushion rule U. That is both an investment issue and a tax question. Today, at age 62, Ingrid’s $4,500 income monthly before tax consists of $2,600 from her defined benefit pension, $200 from her defined contribution pension plan, $700 from the Canada Pension Plan discounted for an early start and $1,000 rental income. If she starts now, her federal marginal rate will be 20.5 per cent and her provincial marginal rate 13 per cent. Ingrid can start making RRSP withdrawals now, withdrawing perhaps $7,000 a year, and thus average her income after 65 when OAS starts at a present rate of $6,942 a year.Ingrid can look forward to indexation on her defined benefit public service pension, currently $27,360 per year. After 65, she can add Old Age Security at $579 per month, making total gross income $5,079 per month. Better, split RRSP withdrawals to $25,000 per year this year and next, Moran advises. It’s an effective use of the money and given Ingrid’s lack of experience with investments, it is a conservative choice, Moran adds.“Her financial choices and her personal situation can resolve each other,” Moran says.

,000 rental income. If she starts now, her federal marginal rate will be 20.5 per cent and her provincial marginal rate 13 per cent. Ingrid can start making RRSP withdrawals now, withdrawing perhaps ,000 a year, and thus average her income after 65 when OAS starts at a present rate of ,942 a year.

Ingrid can look forward to indexation on her defined benefit public service pension, currently ,360 per year. After 65, she can add Old Age Security at 9 per month, making total gross income ,079 per month. Better, split RRSP withdrawals to ,000 per year this year and next, Moran advises. It’s an effective use of the money and given Ingrid’s lack of experience with investments, it is a conservative choice, Moran adds.“Her financial choices and her personal situation can resolve each other,” Moran says.

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Now 62, she has more than half-a-million worth of assets, close to a quarter of a million dollars of liabilities — mostly a mortgage — and a series of decisions to make on everything from life insurance, allocation to travel plans.

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