John C. Bogle, founder of Vanguard, died of cancer at the age of 89.
In 1974, Bogle founded Vanguard, which went on to become one of the largest mutual fund companies. His firm was cited as being a champion for the small investor at a time when everything was targeted at the larger players.
Bogle was credited with creating mutual fund that was low cost, low-fee and tied to index funds. Over the years, he showed how the financial industry destroyed people's retirement with their high fees. It is a message that still rings true to this day.
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