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AARP Ripoff, A Warning to Members, They do NOT have your best interests at heart! Washington District of Columbia
AARP is composed of left-wing, pro-big government socialists, as I will go on to demonstrate. If you let them speak for you, you will end up losing, and so will the country.
Social Security is a case in point. Currently the government confiscates 12.4% of one's income for SSI, half paid by the employer. (Medicare is extra.) I remember in high school (I am now 62) I read somewhere that based on life expectancy at that time, that social security as it was set up would confiscate "X" amount of money, and pay out "Y" (some $20,000 (?) less than one had paid in!). The point of the article I had read was that instead of receiving one's money with interest, one actually lost money out the behind.
I couldn't remember the exact figures, so I started fresh with a hypothetical case today: a male age 22 who would make the maximum taxable amount ($90,000). He would "pay in" (have forcefully taken away from him and his employer) $11,160 per year. The current retirement age for such a hapless individual is 75 years old, so he will pay for 53 years for a total of $591,480--over a half million dollars.
But wait! Had he been able to invest that money (or even been obligated to do so by the government for his own good) at the rate of 10% compounded monthly, he would have waiting for him at retirement a total of $21,941,672! Nice return on his money, right?
Not with the government involved.
Not only is the government not investing his money for him, it is stealing him blind to fund other things, like make the deficit appear less large, buy votes from special interest groups, whatever. If a private insurance company ran its retirement accounts like Congress runs ours, those same senators and congressmen would rise up and howl in self-righteous indignation and there would be investigations, hearings, and perhaps jail time for the principals of said company. But they themselves, on the other hand, steal, manipulate, cook the books, co-mingle, misappropriate, and generally commit malfeasance with our retirement money and exempt themselves from prosecution.
By the way, I have ignored the amount of our worker's pay-in that may go to cover his possible disability, since I am not an actuary and can't figure that part of it. But since there are lawyers who can afford to run incessant tv ads for clients who have been turned down for Social Security disability and apparently make a good living representing them, I can assume that disability payments aren't that big a crunch in the Social Security Administration's (SSA) budget anyway.
Back to our hypothetical individual. Our lad, now at age 75 is finally able to collect. He is entitled to draw $17,326 per month. (But a working stiff making a lot less in retirement income and having retired at the earliest possible age might have to work to make ends meet, only to have his paltry SS retirement income re-confiscated by the feds. It's a benefit, see? Not something that belongs to you outright. If you work and supplement your income you don't have a right to your own money that you paid in all your working life.)
Well, ok, how much can our lad who started at age 22 expect to draw during his retirement? Will he break even? Will he come out a loser? How much did he lose having the government handle his pension for him? Is it still that $20,000 figure? If you use the SSA's own life expectancy chart, at age 22 he can look forward to living 53.35 years. But he has to wait until he is 75 before he can draw full amount. Um, let's do the math. 22 years old plus 53.35 equals? Well, you figure it out. He may get a check or two out of them; they get to pocket all the rest.
This is the system AARP defends. Keep Social Security strong, they say. See why I called them those names up top? Keep it strong how? Smelling? Read what they say about how to keep SS strong, and it is about confiscating even more from the hapless workers, lowering payouts by messing with COLA adjustments, forcing the ones who are currently exempt to cough up like the rest, raising the retirement age even further and, as we have seen, past the time when we drop dead. How sick these people must be. How insane they have to be to be so blatantly hard hearted and cold blooded, so pro-government, so anti-people.
Join AARP (if you must) for their benefits (magazine, insurance, etc), but don't forget they do all that so they can tout their membership numbers in Washington and appear to be a big political machine, and then push for more socialism and larger and more onerous government.
If you want to belong to AARP, but want to remain free, or at least not any less free than you already are, it would behoove you to notify your elected representatives that AARP does not speak for you.
Arthur
Wylie, Texas
U.S.A.
9 Updates & Rebuttals
Arthur
Wylie,Texas,
U.S.A.
Not to worry...
#10Author of original report
Tue, October 21, 2008
No problem. I wouldn't dream of joining. But if you read the above and still can defend this organization then fine. Be an ostrich and a citizen whose sense of patriotism never goes further than his own narrow interests.
But if you think you can make people shut up and go away by inferring that the only recourse they should have it to vote with their feet then I imagine you not only disagree with the contents of this report but also with the First Amendment to the Constitution of the United States of America, and sites like this as well.
Go away (from AARP)? No problem. Already did.
Quit exposing them and their socialistic bent? Never.
Alan
Ellicott City,Maryland,
U.S.A.
AARP Does a Good Job for its Members!
#10Consumer Comment
Fri, September 26, 2008
I am a member of AARP and I believe that they not only represent my own interest, but the best interests of the memebership. They are, first and formost, an advocacy organization. They don't hide that fact. That is what they are SUPOSED to do. They are not "ripping you off", they are doing their job. If you don't like the positions they advocate, then don't join.
Alan
Ellicott City,Maryland,
U.S.A.
AARP Does a Good Job for its Members!
#10Consumer Comment
Fri, September 26, 2008
I am a member of AARP and I believe that they not only represent my own interest, but the best interests of the memebership. They are, first and formost, an advocacy organization. They don't hide that fact. That is what they are SUPOSED to do. They are not "ripping you off", they are doing their job. If you don't like the positions they advocate, then don't join.
Joe
Austin,Texas,
U.S.A.
Can't Join AARP because of Age Discrimination, No Job to Pay their Dues! WHAT ARE THEY DOING FOR ME?
#10Consumer Comment
Wed, July 25, 2007
As more and more people become older Americans and realize that they can't live on the pittance retirement the government has taken from our paychecks and is doling back to us, drop by drop, we are going to have to remian in the worlforce longer.
AT THE SAME TIME, THERE IS INTENSIFIED COMPETITION FROM YOUNGER WORKERS AND ILLEGAL ALIEN WORKERS!
And the AGE DISCRIMINATION PREVENTS YOU FROM BEING HIRED IN THE FIRST PLACE!
It hit me at about 40 and I could not find a job in my field anymore.
It hits ladies, especially minority ladies a lot harder than us guys. The older ladies are usually divorced or widowed and can't live on the scraps of their husband's Social Security or pension ( assuming he was fortunate enough to work someplace where he could get a pension), so they have to find work. Well, good luck ladies! Because that boss man is probably going to hire someone who looks like Anna Nicole Smith --who cares that she has the brains and job experience of a maggot and the older women are discarded or given the lest desireable work.
Same thing for us guys too!
AARP is supposed to be all about HELPING OLDER AMERICANS FIGHT DISCRIMINATION ---Especially in employment. I know the name is supposed to be about RETIRED PERSONS but not very many people I know can afford to retire. Lots of jobs in the South never offered a pension program and on minimum wage, you can't save very much when you are trying to raise a family and pay for the necessities...
IT IS A FACT THAT OLDER AMERICANS ARE BEING DISCRIMINATED AGAINST IN EMPLOYMENT!
AND IN TEXAS, AND ELSEWHERE TOO I HEAR, EEOC IS DOING NOTHING TO STOP IT!
What are we supposed to do, crawl off in a dark corner and die?????
AARP IS SUPPOSED TO BE THE OLDER PEOPLE'S ADVOCATE!
But like the two political parties ( two different labels on the SAME bottles of POISON), they sit back and DO NOTHING TO SPEAK UP AGAINST THE DISCRIMINATION.
Until AARP can STAND UP AND DEFEND OLDER AMERICANS' CIVIL RIGHTS, THEY NEED TO SHUT THE HELL UP and WE NEED TO STOP GIVING THEM THEIR DUES, OR NOT JOIN THEIR SORRY ORGANIZATION IN THE FIRST PLACE!
Pam
Beverly,Washington,
U.S.A.
Is AARP doing identy theft?
#10Consumer Comment
Tue, November 15, 2005
I am a member of COSTCO, but they don't go to Washington D.C. and claim they represent me.
How can AARP claim to represent members and ex-menbers, when they haven't even asked our opinions. I did not see "AARP" on my voters ballot, running any campaign as my states representative. Is AARP doing identity theft?
I quit them over a year ago and they still claim to represent me. I still get AARP junk mail, especially now, about AARP MedicareRx Plan, for perscription drug insurance. (UnitedHealthcare)
AARP offers the program for $24.89** to their "valued AARP Medicare Suppliment insured member. Which incidentally costs an additional $9.50 (without discount) per month, this amount is not mentioned on the AARP Medicare Rx Plan. So the actual monthly amount payed out for this plan would be $34.39 monthly plus AARP annual membership of $12.50.
Their "Formulary" is an insult to a persons intelligence. I traced out the benefit I would receive from them in purchasing a medicine I take. I can buy it for the same price at our local pharmacy without the insurance, as it would cost from one of their approved pharmacy's with the insurance? they offer.
I compared it to the benefit I would receive if I get the UAMedicare PartD (United American Insurance Company). They are straightforward about their insurance plan & price, total $32.80 per month in my state. Anyway, I could get the same medicine, saving approximately $25.00 per month on the medicine and have a greater choice of pharmacys. They have no deductable and pay a percentage.
To sum up: If I get the UAMedicare Part D, I would only be loosing $7.80 ($32.80 - $25.00)per month until I need other medication, then my savings will be greater.
With the AARP Medicare Rx Plan, I would be loosing the $34.39 per month plus the $12.50 per year plus the actual cost of my medicine. They have no deductable but "Tier and $Co-pay". Their "$ Co-pay" happens to be the price of my medicine. Now, isn't that strange.
I hope others get wise to AARP, and soon.
Arthur
Wylie,Texas,
U.S.A.
Note to Comment Author Pete from Original Author
#10Author of original report
Thu, October 27, 2005
You are right to call the AARP a socialist-leaning organization. Why have you seen the AARP commercial where the female police officer pulls the hapless man over to check which company supplies his auto insurance?
Not only does it have sexist overtones (you know the drill: highly intelligent woman--stupid dolt of a male who needs to be wised up by a much more competent female), it shows how they have no problem with the obvious abuse of power the "officer" displayed by using her authority to pull him over for no infraction and without probable cause.
Look at all the rip-off reports in this section regarding the Hartford and perhaps consider changing. I hear Amica is very good, and they only have one complaint, which seems to have been competently and caringly handled by the company. I first found Amica when I checked with J.D. Power and Accociates. They have only just begun advertising, as far as I know, and have built up quite a business by word of mouth alone.
It's time to reward the good people of the earth, and quit enabling anti-social behavior. Go Rip Off Report!
Arthur
Wylie,Texas,
U.S.A.
A Correction from the Original Author
#10Author of original report
Sun, October 02, 2005
Note: When I ran the numbers on the SSA website it apparently malfunctioned and showed full retirement age for my 22 year-old male to be 75 instead of 67. Was this perhaps prophetic?
Is that where we are headed, where a male who is 22 years old now will have to work until he is 75 by the time he retires? It will be if crooked politicians and the AARP get their way.
Anyway, here are the corrected numbers:
At maximum confiscation and today's 12.4% rate he "pays" in:
$11,160 per year for 45 years, Total:$502,200
Monthly Social Security "benefit":
$11,082
Had he invested his $11,160 @ 10%, deposited and
compounded monthly, he would have at age 67: $9,829,966
This invested in, say, Immediateannuities.com
would yield a lifetime monthly income of: $68,033
Loss per month due to government theft: $56,951
With his life expectancy he can draw, on average, 100 checks.
Total loss over his lifetime: $5,695,100
Multiply this by all the victims and this goes far beyond grand larceny.
This is something only God can fix....
And punish.
Pete
Valley View,Michigan,
U.S.A.
'If one person could do it alone, you wouldn't need AARP'
#10Consumer Comment
Sun, October 02, 2005
Every time I see one of those ridiculous commercials, my automatic answer is: "I DON'T need AARP."
Question: Although I know it was strictly for illustrative purposes--where does a 22 year old get a job that pays $90,000 per year? :)
I have on more than one occasion contacted my senators and congressman to let them know I disagree with the dictates of this socialist leaning organization. They claim they have the interest of the 'little man' at heart. Yeah, sure--'little' like Teddy Kennedy! Their magazine is packed with advertisements for fabulous cruises, worldwide vacations, etc. What 'little man' can afford these?
I have yet to see one positive article in the rag they publish, which isn't even good for lining a bird cage, regarding PSAs. Their reasoning? The average Joe wouldn't be able to manage his account. Well--ya' big dummies--the average Joe won't be managing that account. There are financial planners, analysts, account managers, etc., who are trained in this field. They'd be handling investment of this $$. How many of us actually direct investments in our IRAs, mutual funds, etc.? Someone schooled in this area does this job. We've seen when 'Account Managers' fall on their face, they are quickly replaced by another more successful person. How does anyone think John Corzine made his money, or Mayor Mike Bloomberg? (Poor examples, I guess, because they toe the AARP line.)
Only reason I'm an AARP member is because I get a fairly decent rate on auto insurance. Although I know I should go to another company for this product because I'm just feeding into their socialist line when they can count me as a member.
I agree it's time we started telling Washington that we don't need AARP.
Pete
Valley View,Michigan,
U.S.A.
'If one person could do it alone, you wouldn't need AARP'
#10Consumer Comment
Sun, October 02, 2005
Every time I see one of those ridiculous commercials, my automatic answer is: "I DON'T need AARP."
Question: Although I know it was strictly for illustrative purposes--where does a 22 year old get a job that pays $90,000 per year? :)
I have on more than one occasion contacted my senators and congressman to let them know I disagree with the dictates of this socialist leaning organization. They claim they have the interest of the 'little man' at heart. Yeah, sure--'little' like Teddy Kennedy! Their magazine is packed with advertisements for fabulous cruises, worldwide vacations, etc. What 'little man' can afford these?
I have yet to see one positive article in the rag they publish, which isn't even good for lining a bird cage, regarding PSAs. Their reasoning? The average Joe wouldn't be able to manage his account. Well--ya' big dummies--the average Joe won't be managing that account. There are financial planners, analysts, account managers, etc., who are trained in this field. They'd be handling investment of this $$. How many of us actually direct investments in our IRAs, mutual funds, etc.? Someone schooled in this area does this job. We've seen when 'Account Managers' fall on their face, they are quickly replaced by another more successful person. How does anyone think John Corzine made his money, or Mayor Mike Bloomberg? (Poor examples, I guess, because they toe the AARP line.)
Only reason I'm an AARP member is because I get a fairly decent rate on auto insurance. Although I know I should go to another company for this product because I'm just feeding into their socialist line when they can count me as a member.
I agree it's time we started telling Washington that we don't need AARP.