Why People in Their 20s and 30s Are Joining AARP
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What is the main topic discussed in this episode?
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Here's your Money Briefing for Wednesday, November 2nd. I'm J.R.
Can people under 50 really join AARP and when did this trend emerge?
Whelan for The Wall Street Journal. When you think of AARP, you might think of your parents or your grandparents getting discounts on things like eyeglasses or medication. But there's a growing legion of AARP members who are far from retirement in their 30s, even in their 20s.
Many of the people I spoke to were pretty shocked to find out that this was a legitimate offer. Some of them had heard about this on social media and they said, oh, you know, this sounds like a scam. Let me go check this out on the AARP website. Lo and behold, the website says, yes, you can join.
So why are younger people flocking to an organization geared toward retirees and senior citizens? Wall Street Journal personal finance reporter Veronica Dagger spoke to some of them, and she'll join us to talk about it after the break.
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What benefits and discounts does AARP offer that attract younger members?
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AARP says it has 38 million members, but at least some of them aren't retired or even close to retirement age. Thousands of people in their 20s and 30s have discovered they too can reap the financial benefits of joining AARP, just like their parents and grandparents. Wall Street Journal personal finance reporter Veronica Dagger joins us with more. Hey, Veronica, thanks very much for being with us.
Thanks for having me, JR.
So Veronica, did I hear this right? People in their 20s and 30s are signing up for AARP. These people aren't retired, right?
That's right.
How much does AARP membership cost and what savings can it produce for young people?
You did read that right. Yes, you can sign up for AARP when you are in your 20s and 30s. You can even sign up as young as 13 when you join online. So it's some people who are very far from being retired looking for some of the deals and discounts AARP offers.
So what's the allure here for younger people, and for retirees for that matter? What benefits does AARP provide?
AARP offers a lot of different discounts, everything from discounts on meals to airline tickets to rental cars, insurance. There's a variety of discounts available for people. And so that's why people young and old really appreciate being able to pay about $12 annually with automatic renewal and get hundreds of dollars potentially in savings. It's exciting to a lot of folks. especially younger folks who have seen their parents live through job losses or live through housing downturns or economic downturns overall, see their portfolio take big hits in past market pullbacks. All that has ingrained in some younger folks a real desire to be conservative with money and to save and and to get deals whenever possible.
Another big factor in this, of course, is inflation. You go to the grocery store and you see your grocery bill up $100, $200, and so you start looking around saying, where else can I get discounts? How else can I save? Because things like food are getting really expensive, but I still wanna have those great experiences. I still wanna go out to dinner and have fun and travel, but how can I do it and how can I do it cheaper?
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Chapters
8 chapters
1
What is the main topic discussed in this episode?
0:00–0:38
2
Can people under 50 really join AARP and when did this trend emerge?
0:38–1:25
3
What benefits and discounts does AARP offer that attract younger members?
1:25–2:32
4
How much does AARP membership cost and what savings can it produce for young people?
2:32–4:20
5
Why are inflation and economic uncertainty driving 20- and 30-somethings to sign up for AARP?
4:20–5:28
6
How has social media, especially TikTok, amplified awareness of AARP for younger audiences?
5:28–6:46
7
What are real reactions when young people use AARP discounts in stores and restaurants?
6:46–7:58
8
Is AARP actively targeting younger demographics or simply welcoming them?
7:58–9:17
Speakers
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