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Personal Finance Glossary

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L
LIFO—Last In, First Out
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Large-Cap Stock
Last
Leap
Level Load
Level Term Insurance
Liability Insurance
Lien
Lifetime Payout
Limit Order
Liquidity
Living Trust
Living Will
Loan-To-Value (LTV) Ratio
Long
Current TermLong-Term Capital Gains
Long-Term Care Insurance
Low Price
Long-Term Capital Gains
Net gains on assets sold 12 months or more after purchase; taxed at a rate of 20% (10% for certain tax brackets). Assets purchased after December 31, 2000 that are held for more than 5 years and then sold will be taxed at 18% (8% for certain tax brackets).

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