The fund industry has grown massively in the last 25 years, and it has changed to a better-run, more professional, and lower-cost business, Here are some key lessons for investors:

1. Build a plan for multiple investment goals and stick to it.
2. Align your investments with each goal.
3. Keep costs low, but evaluate whether some services like paying for financial or tax advice are worth the price if you don’t have the time or investing acumen to do it yourself.
4. Choose funds that are good bets for five years from now because they have the depth of managers and analysts, low costs, and strong stew­ardship to keep them on the right path.
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