Mutual funds are investment vehicles that pool money from multiple investors to purchase securities such as stocks, bonds, and other assets. This allows individual investors to access a diversified portfolio and the expertise of professional fund managers. With various types of mutual funds available, investors can choose a fund that aligns with their investment goals and risk tolerance.

Financial planning is the process of creating a roadmap for your financial future, taking into account your current financial situation and long-term goals. It involves analyzing your income, expenses, debts, and assets to create a plan that will help you achieve your financial objectives. A good financial plan should address your short-term and long-term goals, as well as your risk tolerance and investment preferences. It should also consider unexpected events such as job loss, illness, or disability. By creating a financial plan, you can make informed decisions about saving, investing, and spending, and ultimately achieve greater financial security and peace of mind.