Many Californians 50+ Confused by Mutual Fund Industry Practices:

• Most feel overwhelmed by choices, believe investing is too complex for the average person, and say fund companies put their interests before their investors’.
• More than three-quarters of Californians believe car insurance policy, DVD player instructions, and prescription drug inserts are easier to understand than a mutual fund prospectus
• Two out of five “unaware” or “not sure” of the fees they pay on their mutual funds.

Overwhelmed with too many choices, turned off by complex prospectus language, and not sure who to turn to for advice, many Californians in their prime savings years are falling behind in the retirement funding race, according to a survey of Californians released by AARP Financial. Continue…