Wednesday, August 19, 2009

Serving Two Masters (Why I Loathe AARP)

  1. I just turned 50, so I now get all the AARP mailings confirming that I am now a freshman member of the senior citizen club!
  2. They do not place the interests of their members above their own profit motives.
  3. AARP is essentially a financial services giant, marketing investment and insurance products to its members. If AARP were a listed financial services stock, they would rank among the upper half in terms of revenues and profits. Also, they would then be rightfully viewed by a much larger percentage of consumers as a financial services company, with biased strategic arrangements with the product companies they offer for sale.
  4. Too much of their lobbying efforts have historically been aimed at effecting legislation that will increase their profits via the products and services they market, NOT improve the lives of their members.
Financial lesson:
Beware of wolves in sheep’s clothing.

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