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Mutual Funds are a great way to establish a diversified portfolio with little risk. However, mutual fund managers require a sometimes large chunk out of your earnings each year. If youre new to investing, this is still a great option to learn the market and your investment style. I dont think it benefits investors approaching retirement as much because they have more experience and are able to manage their own portfolios adequately. There are better options for experienced investors that could give them higher returns at the end of the year without having to pay so much for someone elses service.