Savings, the process of putting money away for future use, can come from anything such as cash gifts, side incomes, or even a parent's savings account. Compound interest is the growth of principal over time through reinvestment of capital earnings. When it comes to compound interest, you have to have a long-term view.
In today's society, the common goal of several people is to save money especially for retirement. It has been said that "the best time to plant a tree was 20 years ago, and the second-best time is now." This quote rings true for the modern-day person who wants to invest in financial assets or in financial funds. There are many different banks and financial advisors that help you make this investment over time by giving you interest in your savings.