What is a Waiver?
A waiver is a party's voluntary renunciation of rights in a contractual arrangement.
How Does a Waiver Work?
When two parties enter into a contract, they often agree to forfeit some of their respective rights or claims. Either party may use a waiver -- expressed either in writing or through the performance of a specific deed -- to officially give up a privilege, right, or claim.
For example, one party might sign a waiver stating that he or she will not take legal action against the other party if there is some unintentional wrongdoing.
Why Does a Waiver Matter?
It is important to remember that a party who signs a waiver is surrendering his or her right to pursue a course of action (file a lawsuit, receive compensation, etc). In most cases, a party will sign a waiver only if he or she receives a benefit in exchange for doing so.
- Create a retirement savings goal
- Design an investment plan to reach it.
- Get a professional money manager to continually monitor and rebalance your portfolio
Sound complicated? Don't stress. Vanguard's new robo advisor service can help you put all of this (and more!) on autopilot, all for an annual gross advisory fee of just 0.20%.
Click here to learn more about Vanguard's new Digital Advisor service.
