What guidelines define a fixed-income account vs. an equity account? Is a real estate investment typically considered a fixed-income investment or equity investment?
"Generally, equity represents ownership and fixed income represents a loan," said FPA member Steve Robbins, CFP®, president of Steve Robbins, Inc. "A stock is ownership and equity while a bond is a loan and therefore fixed income. Since you normally own real estate, it is considered equity. However, many advisers and investors will classify real estate within its own asset class since it often exhibits qualities of both equities and fixed income."