Expiry Date

Look at that ground beef in your fridge. See the use by date? That’s the expiry date. Do not eat it after this date or you yourself may expire.

Just as the stuff in your fridge has an expiration date, so do things like stocks, bonds, etc. The date they end is the expiry date. You can’t cash a check after it expires, nor can you use a bond after it expires. Try using your credit card after it expires; the cashier will look at you funny, or you will have an awkward conversation at the restaurant while on a date.

As something nears the expiry date, you need to either buy a new one, or renew the one you have...much like a library book you want to keep reading. Assuming anyone still goes to the library.