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Retirement Account
A financial account designed to help individuals save for their retirement, offering benefits like tax advantages.
Social Security Benefits
Government payments made to eligible individuals, such as retirees or disabled workers, based on their employment history.
Inflation
The rate at which the general level of prices for goods and services is rising, eroding purchasing power.
Universal Life Insurance
Similar to whole life insurance; the cash value can be used to pay the insurance premium if the policyholder doesn’t pay it, but if the cash value is not enough to pay the insurance, the policy can lapse.
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