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Leonard Pokrovski

added blog Personal Finance
2025-11-19 22:00:30 -

What Is Compound Interest and How It Helps Your Savings Grow Over Time
What Is Compound Interest and How It Helps Your Savings Grow Over Time Compound interest is often called the eighth wonder of the world—a phrase commonly attributed to Albert Einstein. Whether he said it or not, the sentiment captures a real truth: compound interest can transform small, consistent savings into substantial wealth over time. It’s one of the most powerful forces in...

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Leonard Pokrovski

added blog Personal Finance
2025-12-08 19:36:30 -

How Do I Save Money for Kids’ Education?
How Do I Save Money for Kids’ Education? College Savings Plans, Education Funds, and 529 Plans Explained Planning for a child’s education is one of the wisest financial decisions a family can make. Tuition costs continue to rise, and even public schools and community colleges come with substantial expenses—from books to housing to technology. The earlier you begin preparing,...

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Leonard Pokrovski

added blog Finance
2025-10-02 22:31:38 -

How Does Interest Work on Loans and Credit Cards?
How Does Interest Work on Loans and Credit Cards? Interest is a fundamental concept in personal finance and plays a key role in how borrowing works. Whether you take out a loan or use a credit card, interest is essentially the price you pay for accessing money that isn’t yours. Understanding how it works can help you make smarter borrowing decisions and avoid unnecessary costs. When you...

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Leonard Pokrovski

added blog Personal Finance
2025-12-03 17:05:15 -

How Much Should I Have Saved by Age 20/30/40/50/60?
How Much Should I Have Saved by Age 20/30/40/50/60? “How much should I have saved by now?”It’s one of the most common—and most anxiety-provoking—money questions adults ask. The truth is that there is no single perfect number for everyone, because income, lifestyle, debt, family responsibilities, and career paths vary dramatically. However, financial planners...

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Leonard Pokrovski

added blog Personal Finance
2025-11-25 21:48:01 -

How Much Should I Pay Into My Pension or Retirement Account?
How Much Should I Pay Into My Pension or Retirement Account? Deciding how much to contribute to a pension or retirement account is one of the most important — and most confusing — financial choices most people face. You know you should save for the future, but you also have bills, living costs, and maybe family obligations right now. Add in tax rules, contribution limits, employer...

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Leonard Pokrovski

added blog Personal Finance
2025-10-21 20:10:19 -

How Much Should I Save Each Month?
How Much Should I Save Each Month? Saving money is one of the most important habits for achieving financial stability and independence. Whether you’re saving for an emergency fund, a new home, retirement, or just peace of mind, deciding how much to save each month can feel overwhelming. You’ve probably heard the rule of thumb: “Save at least 20% of your income.”...

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Leonard Pokrovski

added blog Personal Finance
2025-11-19 22:02:04 -

Personal Finance Basics: What You Should Know About Income, Saving, Debt, and Investing
Personal Finance Basics: What You Should Know About Income, Saving, Debt, and Investing Personal finance isn’t a topic most people are taught formally, yet nearly every decision in adult life touches it—earning, buying, borrowing, saving, and planning for the future. The good news is that you don’t need to be a financial expert to build stability and confidence. At its core,...

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Leonard Pokrovski

added blog Money
2025-09-30 21:53:16 -

What is APR? How Do Interest Rates Work?
What is APR? How Do Interest Rates Work? When it comes to borrowing money, whether through a credit card, personal loan, or mortgage, two terms frequently appear: interest rate and APR. Understanding these concepts is crucial to making smart financial decisions and avoiding unexpected costs. Let’s break them down. What is an Interest Rate? An interest rate is the cost of borrowing...

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Leonard Pokrovski

added blog Personal Finance
2025-12-05 19:46:30 -

What Is the Difference Between Saving and Investing?
What Is the Difference Between Saving and Investing? Understanding the difference between saving and investing is one of the most important steps toward building long-term financial stability. While the two terms are often used interchangeably in everyday conversation, they represent very different financial behaviors, purposes, risks, and outcomes. Both play crucial roles in a healthy...

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Leonard Pokrovski

added blog Personal Finance
2025-11-25 21:45:43 -

When Can I Withdraw Money From My Retirement Plan — and What Are the Penalties?
When Can I Withdraw Money From My Retirement Plan — and What Are the Penalties? Saving for retirement is one of the most important financial decisions you can make. But equally important is understanding when and how you can withdraw the money you’ve saved. Taking funds out too early can lead to taxes, penalties, and long-term consequences for your financial security....

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