Albert Einstein has been attributed with saying that "compoundinterest is the eighth wonder of the world."^1.Warren Buffettonce said that "Life is like a snowball. The important thing is finding wet snow and a really long hill."^2.In part, this is a reference to his ability to compound and amass wealth over time.

How does time work in your favor when it comes to investing and compounding? If you set aside $10,000 each year for 30 years and it grew at an interest rate of 10%, how much would you have at the end of the 30 years? How much would you have at the end of 40 years? (Hint: solve for Future Value).

1.http://www.quotesonfinance.com/quote/79/Albert-Einstein-Compound-interest

2.http://www.marketwatch.com/story/warren-buffetts-snowball-retirement-advice-2015-11-16