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Saving for Retirement (Without Living Like a Pauper or Winning the Lottery) Updated and Revised by Gail MarksJarvis

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9. Know Your Mutual Fund Manager’s Job

One reason people make so many mistakes with their stock mutual funds is that they and their mutual fund managers have a totally different understanding of the fund manager’s job. This ends up in awful marriages and painful divorces between investors and their mutual funds. Destructive relationships batter retirement savings.

Most novice investors put money into a mutual fund with a dangerous false assumption. They assume that they hired their fund manager to make money for them, no matter what. Consequently, if they start to lose money, investors figure that their fund is a flop and that they should unload it and find a better one before all their money disappears.

The fund manager, on the other hand, is ...

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