Mutual funds, Sept. 6 -- Retirement planning should be one of the most important goals of everyone's life. As soon as an investor starts earning, it is recommended to set aside a small sum towards retirement. It may appear too conservative an approach but the research has proved its benefits. From Ben Graham to Warren Buffett, every legendery investor has also spoken a great deal about it.

The phenomenon of starting to invest early for long term wealth creation is also known as compounding. In his autobiography, Warren Buffett calls compounding a snowball which - when rolling down a long hill -- picks up more snow as it gains momentum until it becomes a massive snowball.

To make the compounding work for you and to accumulate massive amo...