AARP hypocrisy
My brother has pointed out something quite interesting about the AARP, which, as you know, opposes Social Security reform. One of its reasons is that “Personal accounts come with a host of risks. The stock market goes down as well as up, and sometimes it stays down for quite awhile. Not every individual or every fund earns a lot of money; many have returns well below the average return.”
Yet the AARP also encourages its members to participate in the AARP Investment Program, where it offers “A wide selection with a family of 38 mutual funds. Choose from many asset classes and risk levels, including money market funds, bond funds, U.S. large cap funds, U.S. small cap funds, and international funds.”
Furthermore, the AARP lists investment income of $60,326,000 in 2003, and $46,270,000 in 2002. As of December 31, 2003, the AARP listed investment assets of $180,204,000 in common and preferred stocks, with various other amounts invested in mutual funds.
