Being vested means having ownership or control over something, such as a retirement fund or stock options. When you are vested in a retirement plan, it means that you have the right to the full amount of money in the plan, even if you leave your job before retirement age.
In simpler terms, being vested is like earning your stripes – you’ve put in the time and effort, and now you have something to show for it. It’s a sense of security and stability for your future.
Key Points:
– Vested means having ownership or control over something.
– It is commonly used in relation to retirement plans and stock options.
– Being vested provides a sense of security and stability for the future.