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You’ve probably heard of mutual funds.
Even if you haven’t — but you have a 401(k) or other employer-sponsored investment account — odds are you own one.
In fact, an estimated 100 million Americans own a mutual fund, as of 2017.
People use them to save for retirement, college or buying a house.
The mutual fund industry in the U.S. alone tops out at around $18.7 trillion.
Here are the basics behind mutual funds.
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Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.
