According to the Investment Company Institute, mutual funds are a popular financial product for people over the age of 65. Eighty percent of that group view the industry favorably; of those 22 percent view the industry “very favorably.”

Of all households in the United States, 21 percent are headed by someone 65 or older. Of those, 33 percent own mutual funds. Fifteen percent of households headed by someone 65 or older own mutual funds.