Article: The first step to choosing individual stocks versus mutual funds is to understand your risk tolerance. Due to diversification, purchasing mutual funds is typically lower risk, as your investment will be mostly immune from the risk of one company performing poorly.  If you are uncomfortable with the idea of potentially substantial losses, investing in mutual funds is likely a better choice. While mutual funds can and do lose money (due to the overall market doing poorly, or entire industries that a mutual fund may be over-concentrated), the risk is generally lower due to low risk of poor performance by one stock. Mutual funds also provide greater opportunity to customize your risk level by purchasing different types of funds, or investing in low-risk funds. While mutual funds are very diversified, they are often organized according to stocks with differing characteristics. By purchasing multiple funds, you can attain a level of diversification and risk reduction that would be very difficult to replicate with stocks. For example, you could purchase a Large-Cap domestic fund and an international fund. This would not only immunize you to the risk of a single stock failing, but also to the risk of the U.S. economy or stock market doing poorly. Ask yourself honestly if you have the time, interest, or knowledge to manage a portfolio of your own stocks. If you are knowledgeable about investing (or have time to learn), and prefer having full control over your finances, buying individual stocks can present an attractive opportunity.  If you feel you have the time, knowledge, and expertise to buy individual stocks, be aware of the risks. A recent study found that while looking at 3,000 stocks over a 24 year period, 39% of stocks were unprofitable, 19% lost 75% of their value (or more), and 64% under-performed the overall market. Just 25% of the stocks were responsible for all the market's gains. This shows the difficulty of picking successful stocks. Individuals who are successful, however, have the potential to earn returns significantly above what could be earned by investing in a mutual fund. When you invest your money, you will likely have a time line as to when you will require the money. If you are investing for retirement, for example, and are fairly young, this timeline may be several decades. Conversely, if you are in your 50's or 60's and investing for retirement, you may require the money in a few years. Typically, higher-risk investments (like stocks) are more appropriate if you have a longer duration until you require the money.  Investing in stocks is desirable if you have a long period until the money is required. This is because it allows you significant time to recover any losses. For example, if you invest $30,000 intended for retirement in your 20's and lose the entire sum, you have several decades to re-accumulate the sum. The same loss in your late 60's could be catastrophic. Therefore, it is wise to select mutual funds for any funds that you will need within a short time frame. With mutual funds the likelihood of the value declining substantially is much lower, thereby preserving your wealth for when you require it. A financial adviser can be an excellent resource in terms of helping to establish not only whether to utilize stocks or mutual funds, but also to guide you in selecting specific stocks or mutual funds to purchase. Advisers will often do so after having a conversation with you about your goals, risk-tolerance, and knowledge.
Question: What is a summary of what this article is about?
Assess your risk tolerance. Assess your personal characteristics. Identify your investing duration. Consult your financial institution.

Tap a location on the map or search for one by typing your destination's name or address in the search bar at the top. It's the blue button on the bottom-right of the screen. It's the icon with three horizontal dots on the top-right of the screen. It's near the bottom of the pop-up menu next to the icon that resembles slider bars. The knob will move to the right and turn blue when the switch is on. These options will avoid highways, toll roads, and ferries.
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One-sentence summary --
Select a destination on the map. Tap Directions. Tap ⋯. Tap Route options. Tap to switches for each item you want to avoid to the 'ON' position.