A balanced fund is a mutual fund that seeks both growth and income, often through a mix of stocks and bonds.
A beneficiary is the recipient of the benefits from an investment. Each 529 plan account has a beneficiary. See also: Family Member.
A bond is a loan to a corporation or government entity that pays interest until a maturity date. The maturity date is the date the issuer must repay the face amount (principal) of the bond.
A bond fund is a mutual fund that invests in different types of bonds. Bond funds may also be called fixed-income funds.