Mutual funds (MFs) are a diversified investment pool under which investors money is parked in securities like stocks, bonds, ETFs, and debentures among others. They are linked to the market's performance. One of the biggest advantages of mutual funds is that investors' hard-earned money is managed by a professional fund manager. You can invest in mutual funds via a systematic investment plan (SIP) or a one-time lump sum option. Notably, MFs are seen as a flexible investment option for senior citizens. Not just that, MFs can help senior citizens hedge real returns and beat inflation.
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