Life Cycle Fund

A life‑cycle fund (also called an age‑based fund or target‑date fund) is a single mutual fund or trust that automatically shifts its asset allocation…

Lifetime Cost

Lifetime cost (also called whole-life cost, life-cycle cost, or total cost of ownership) is an estimate of how much an asset will cost to…

Lifestyle Creep

Lifestyle creep (also called lifestyle inflation) is the gradual increase in spending that often accompanies a rise in income. Small upgrades—dining out more, a…

Life Annuity

A life annuity (also called a lifetime annuity) is a contract sold by an insurance company that converts a sum of money—either a lump…

Life Income Fund Lif

A Life Income Fund (LIF) is a Canadian registered retirement income fund designed to hold “locked‑in” pension money (for example money transferred from a…

Life Cycle Hypothesis

Key takeaways – The life‑cycle hypothesis (LCH) is an economic model that explains how people plan consumption and saving over their lifetimes to smooth…

Lien

A lien is a creditor’s legal claim on a debtor’s property that secures repayment of a debt or performance of an obligation. When a…

Lien Waiver

A lien waiver is a written document in which a party that performed labor, supplied materials, or otherwise has the right to file a…

Lien Sale

A lien sale is the public sale of a legal claim (a lien) placed on an asset to collect an unpaid debt. Liens commonly…

Licensee

A licensee is an individual or organization that has been granted legal permission—explicitly or implicitly—to use, access, or exploit an asset owned or controlled…