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Please select the word from the list that best fits the definition:

This is one way that people can put back money to pay expenses in their later years.

Sagot :

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Final answer:

Saving for retirement through various investment vehicles is essential for financial stability in old age.


Explanation:

Saving for old age is crucial for ensuring financial security in retirement. Individuals have various options such as saving accounts, investments in stocks, bonds, and annuities, and employer-sponsored retirement accounts like 401(k)s. The concept of compounding interest plays a significant role in growing retirement savings over time by earning interest on both the initial investment and the accumulated interest.


Learn more about Retirement savings here:

https://brainly.com/question/37390566


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