What If Boomers Can't Retire?

Glossary

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Capitalized value—the result of multiplying the number of shares that a company has outstanding by the market price. Also called market capitalization or market cap.

Closed-end fund—a mutual fund that raises the capital it uses to manage its portfolio by selling its own stock at one time. Its shares are then traded on an exchange. This is distinct from an open-end fund that is normally willing to sell or buy back its own shares. Most mutual funds are open-end.

Defined benefit—a type of retirement plan offered by an employer where the retirees’ payments or benefits are established or defined by contract. The benefits are often called pensions and set as a percentage of an employee’s later years of work. In general, the employer bears ...