Definition
To be 'vested' means to have a secured right or claim to something, like a benefit or property. Think of it like putting on a vest: once you're wearing it, it's yours to keep. In the financial world, 'vested' often refers to when you have full ownership of something like stock options or retirement funds. It implies a guarantee that the benefit cannot be taken away, provided certain conditions are met. A vested interest means you have a personal stake in the outcome.