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The right to buy more of an investment at a set price - which is often higher - by a set date. Frequently for sale when new preferred or common shares are offered for sale. Warrants are mostly offered to attract investors when a company issues new stock.

Whole life insurance

A type of permanent life insurance that lets you save up some of your payments (your premiums) in a cash account (the cash value). Your premiums are set, as is the amount of money your insurance will pay.


A legal document that establishes what you want to happen to your money, property and other assets after your death. A will can also set out plans to take care of your children or other family members who count on you financially.

Withholding tax

Tax that comes off your pay or other income and goes to the government before you get any money.


A person who watches you sign your will. You must have at least two witnesses. They must be of legal age, and they cannot be named in your will.

Wrap account

An investment account that is managed for a flat quarterly or annual fee. This fee covers - or wraps together - all the services you would have to pay, including investment advice.

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