Remember This…
Investing in mutual funds doesn’t always take lots of money. In fact, many mutual funds will allow you to open an account with as little as $25, $50, or $100. If you decide to open an account with these smaller amounts, make sure to add to your account each month until that fund’s minimum investment requirement has been met.
Fun(d) Facts
Who Is the Typical Mutual Fund Owner?
At year-end 1997, 37.4 percent of all households — or about 65.5 million individuals — owned shares in mutual funds, according to research from the Investment Company Institute (ICI), the Washington, DC-based trade association for the mutual fund industry.
- Nearly 60 percent of folks owning mutual funds have household incomes ranging from $25,000 a year to $74,999.
- Most people owning mutual funds are between the ages of 25 and 64.
- The more money one makes the more mutual fund accounts they are likely to have.
- And, more households are likely to own equity funds than bond funds.
Source: 101 Mutual Fund FAQs, Chandler House Press, 1999.