Compound Interest
Compound interest is the process where interest is calculated not just on the initial amount (principal), but also on the interest that has already been added to the account or loan.
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IRA (Individual Retirement Account)
An Individual Retirement Account (IRA) is a tax-advantaged savings account that individuals can use to save for retirement.
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Roth 401(k)
A Roth 401(k) is a type of employer-sponsored retirement account that allows employees to contribute after-tax income.
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