It may feel like time is always referenced in the negative—you’re running late for an appointment or time flies when you’re having fun—but in the investing world, time may pay off in a big way, especially when you have large savings goals in mind.

Thanks to compounding returns, investing early and staying invested for a long time can help you achieve your savings goals for retirement, purchasing a home or even traveling around the world.

Long-term savings goals are unique for every individual. You may already take advantage of an individual retirement account (IRA) offered through your employer to save for retirement. If you have the account set up with automated investments every paycheck, you’re taking advantage of time and repeated contributions to make the most of your IRA account. Learn more about both traditional and Roth IRAs in this article: Traditional IRA vs. Roth IRA: What’s the difference?

If you have other savings buckets on your wish list, investing in other types of accounts may be an option to help you accomplish those financial goals. Look into Kids’ accounts: Saving for your children if you wish to cover college tuition costs and Investing for short-term goals to help you save for items like travel, weddings, new houses, etc.

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The good news is, you have options, and time is on your side for saving for any of your financial buckets. No matter how you choose to invest—or for what reason—be sure to weigh your options carefully and consider any risks that may be involved. If you’d like help with your research, you may want to talk with a financial professional.