Salud is Spanish for 'health', and is used both when making a toast and in response to a sneeze, in the same way that an English speaker might use 'God bless you'.
Salud, Dinero y Amor! ...y tiempo para disfrutarlos
In making toasts one might use the phrase ¡a tu salud! ('to your health!'), Salud! Dinero! Amor! ('health, money, and love!'), or simply salud. The trio Salud! Dinero! Amor! is used not only for toasts, but also for sneezes; the first sneeze is countered with salud, the second with dinero, and the third with amor. A fourth sneeze might be greeted with alergias! (allergies!) or resfriado! ([you have a] cold!).
Salud is pronounced, approximately, sah-LOOD, although the 'oo' sound will be shorter than most English dialects allow, and the 'ah' may be replaced by a schwa.