One of my favorite Warren Buffett quotes is: “My wealth has come from a combination of living in America, some lucky genes, and compound interest.”

That’s not to say that we are all going to be Warren Buffett rich, because well, most of us don’t have the lucky genes I would add that timing helped him a lot. He happened to get started during a massive economic boom in our country.

Many of us do have the advantages of being born in America, or similar countries. Most people can take advantage of compound interest as well. Few do take advantage of it, however.