Latency

The time delay experienced between a sound or control signal being generated and it being auditioned or taking effect, measured in seconds.  (cf. Delay) Each 1ms of latency = approximately being 1 foot away from your speakers, which means with headphones/IEMs (In-ear Monitors) you might get away with slightly higher audio interface latency than with speakers/wedges. If your computer can handle it, switching to higher sample rates like 96kHz when recording can reduce latency.