AARP did a study of Californians over age 50 and guess what? They find prospectuses difficult to read……imagine that!
A prospectus is what you are given when you purchase a mutual fund or an annuity, you are supposed to read and understand it, but that is nearly impossible given the way they are written.
I’m not sure we actually needed a study to tell us prospectuses rarely get read and are hard to understand.
Scott Dauenhauer, CFP, MSFP