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Americans Invest for the Future in Mutual Funds

Written by Mario Ritter

November 10th, 2006

This is the VOA Special English Economics Report.

People invest money in the hope their wealth will grow over time. People with a lot of money may have financial advisers to make investments for them. But people with limited savings can invest through mutual funds.

A mutual fund is a collection of different financial securities. These include stocks and debt-based investments.

Stock in a company gives the buyer a financial share in that business. The shareholder may receive a small payment, or dividend, from time to time for each share owned. But the value of stocks can change greatly in a short time.

A debt-based security, like a bond, represents a loan for a set period of time. Companies or governments sell these securities as a way to borrow money. Most debt securities pay interest until their period ends, or they reach maturity. After that, the loan is repaid.

Mutual funds can invest in stocks, debt securities or a mixture of both. They offer investors a lot of choice. For example, a stock index fund can be designed to match the performance of the whole stock market, investing in thousands of stocks. For as little as one thousand dollars, an investor can own the stock market. Index funds also cost little to own.

On the other hand, trading individual stocks and bonds can be costly. Investment trading companies charge investors to make trades on exchanges like the New York Stock Exchange or NASDAQ. But if a buyer invests only a small amount, the cost of trading can quickly reduce his or her investment gains.

The Investment Company Institute says the average yearly cost of a mutual fund is a little over one percent of the amount invested. And costs continue to drop.

Mutual funds also reduce risk. They spread money over hundreds of investments. This limits the harm from a single investment loss. But, even the largest mutual funds still carry some risk. There is no guarantee that a mutual fund will gain or keep its value under bad market conditions.

Today, there are almost eight thousand mutual funds in the United States. And Americans continue to increase their mutual fund holdings.

About half of all American families own some mutual funds. Their average investment is forty-eight thousand dollars.

And that’s the VOA Special English Economics Report, written by Mario Ritter. You can find our reports, including transcripts and MP3 files, at voaspecialenglish.com I'm Steve Ember.

AMERICAN MOSAIC - Veterans Day: Honoring the Men and Women Who Served, and Sacrificed

By Dana Demange and Nancy Steinbach

Broadcast: Friday, November 10, 2006

HOST:

Welcome to AMERICAN MOSAIC, in VOA Special English.

(MUSIC)

I'm Doug Johnson. On our show this week:

We answer questions about American Indians ...

Play some music by the group the Decemberists ...

And report about Veterans Day.

Veterans Day

Saturday, November eleventh, is Veterans Day in the United States. It is a day to honor Americans who have served in the country's military forces. Barbara Klein has more.

BARBARA KLEIN:

Many cities and towns across the United States hold ceremonies honoring the nation's veterans. Probably the most ceremonies are held in Washington, D.C. Several memorials honor the men and women who fought and died in the service of their country.

Tomb of the Unknowns

The National Veterans Day ceremony takes place at Arlington National Cemetery near Washington. This is where veterans from all the nation's wars are buried. Each year on Veterans Day, the president and other top officials lay a wreath of flowers at the Tomb of the Unknowns. They also attend a memorial service to honor those who were killed.

Another ceremony is held at the Vietnam Veterans Memorial in Washington. Speakers and military bands honor those killed during the Vietnam War. Their names appear on the memorial itself. The speakers and Vietnam War veterans lay a wreath of flowers following the ceremony.

Navy officials lay a wreath at the Lone Sailor Statue at the United States Navy Memorial. Similar ceremonies are held at the Korean War Veterans Memorial, the World War Two Memorial and the Women in Military Service for America Memorial. Air Force officials are holding Veterans Day ceremonies at the new Air Force Memorial in Virginia on Friday.

The United States Marine Corps also celebrates November tenth every year because

Artist's picture of the National Museum of the Marine Corps

it is the Marine Corps birthday. This year, the Marine Corps is celebrating the opening of the National Museum of the Marine Corps near the Quantico Marine Corps Base in Virginia.

Government and Marine Corps officials are taking part in those opening ceremonies Friday. A Veterans Day memorial ceremony will be held Saturday to honor Marines no longer living. The museum will open to the public on Monday. Officials say the museum will make it possible for visitors to experience what it means to be a United States marine.

American Indians

HOST:

November is National American Indian and Alaska Native Heritage month in the United States. It honors the history, culture and traditions of American Indians and Alaska Native people. So, this week, we answer two listener questions about American Indians. Godswill Eke Kalu from Nigeria asks why Native Americans are called Indians. And Amrit Rai from Nepal asks about the economic situation of American Indians today.

The European explorer Christopher Columbus gave the name "Indians" to the native peoples of North and South America. He thought that he had reached a place called the Indies. In time, the terms "American Indian" and "Indian" became widely used.

The United States Bureau of Indian Affairs says the term "Native American" started to be used in the nineteen sixties. It describes American Indians and Alaska Natives. Later the term also included Native Hawaiians and Pacific Islanders. The government agency says the Eskimos and Aleuts of Alaska do not like to be called "Indians." They call themselves "Alaska Natives".

Many American Indians reject the term "Native American." They say it tries to

A Lakota dancer

describe too many different groups of people, including American Samoans, Aleuts and Hawaiians. These people want to be called "American Indians." Some want to be known by their tribe, such as Lakota or Navajo.

The United States Census Bureau says more than four million American Indians and Alaska natives lived in the country in two thousand four. Some live on government land called reservations or tribal lands. Others live in cities and towns.

The economic situation of American Indians as a group is not good. A continuing study by Harvard University says that American Indians generally earn less money than other Americans. It also says that they have more unemployment, higher rates of death and disease and less family unity than other American groups.

However, the study is also finding that an increasing number of tribes are creating successful businesses. For example, the Pequot tribe in the northeast owns and operates a hotel, gambling casino and museum of its culture and history. You can learn about a famous chief of the Lakota Indians known as Crazy Horse on the Special English program People in America on Sunday.

The Decemberists

HOST:

The Decemberists

The Decemberists are an independent rock group from Portland, Oregon. They perform songs filled with imaginative and unusual stories. The Decemberists' music combines the storytelling of traditional songs with a modern rock sound. Their latest album is "The Crane Wife." It tells about magical creatures and faraway lands. Faith Lapidus has more.

(MUSIC)

FAITH LAPIDUS:

That was "Yankee Bayonet (I Will Be Home Then)." It is a song about a nineteenth century American soldier who was killed in battle. He is singing from the dead to the woman he loves. He says he will come back to her one day on the breath of the wind.

Colin Meloy is the lead singer and songwriter of the Decemberists. His songs have a rich and poetic language. It might not surprise you that he studied English literature in college. Reading his songs is as interesting as listening to them. This autumn, the Decemberists will be traveling in the United States and Europe to perform their magical music. Here is the tragic love song "O Valencia!"

(MUSIC)

We close with the song the album is named after. "The Crane Wife Three" is based on a popular Japanese story. Colin Meloy discovered the story in a children's book. He could not stop thinking about the story. Listen to this poetic song about a man who marries a magical bird.

(MUSIC)

HOST:

I'm Doug Johnson. I hope you enjoyed our program today.

This show was written by Dana Demange and Nancy Steinbach. Caty Weaver was the producer. To read the text of this program and download audio, go to our Web site, www.voaspecialenglish.com.

Join us again next week for AMERICAN MOSAIC, VOA's radio magazine in Special English.

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