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By Jacky Oiga
Have you ever heard of mutual funds? A mutual fund is a company that pools together a group of individuals and invests their money in stocks, bonds, and other securities. With the economy of scales and experts managing the fund, investments grow faster than in a traditional savings account. What makes mutual funds suitable for millennials is that you don’t have to be a millionaire to start investing. Some funds only require PhP5,000 as initial investment. There are a lot of mutual funds around and here are four reasons why you should invest in one.
Invest like pro
If you’re a newbie investor, you may not have the skills and knowledge needed to grow your money. And not everyone has the time to really learn and be updated on the performances and risks of different investment options. Mutual funds can solve that problem by employing a fund manager who will decide on which investment options would be best for you. It’s like having a professional financial advisor on your payroll.
One advantage of a mutual fund is that it pools all the money of the investors and puts it in diverse products to minimize exposure to potential losses. We know all investments involve risks. But those risks are reduced when you invest in mutual funds.
Buying and selling is easy as pie
Some investments like real estate are cumbersome to buy. You need to accomplish lots of paperwork to buy a house. It’s also hard to liquidate. Plus you need to wait for a buyer to convert your investment into cash. But with mutual funds, shares can be purchased on different channels. You can even buy shares online. It’s also easy to liquidate—you can sell your shares at any given business day.
Different funds for different folks
There are different mutual funds for different investment styles. Some investors prefer to have the “slowly but surely” path. Others want to grow their assets as fast as possible, even if the risks are higher. Some are attracted to fixed income investments, while others invest heavily on the stock market, which can yield higher returns in a short span of time. Whatever type of investor you are, putting your hard-earned money in mutual funds is a surefire way of stepping up your investing game.