Compound interest is the interest on both the initial principal and the accumulated interest from previous periods. It helps your investments grow faster over time.

In a traditional IRA, contributions are tax-deductible, but withdrawals in retirement are taxed. In a Roth IRA, contributions are made with after-tax money, and withdrawals in retirement are tax-free.

The stock market can offer high returns over the long term, helping you build wealth. It also provides liquidity, meaning you can buy and sell stocks easily.

To improve your credit score, focus on paying bills on time, reducing outstanding debt, avoiding opening too many new accounts, and checking your credit report for errors.