AARP Magazine article (not an AARP bash)

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AARP Magazine article (not an AARP bash)

Post by friar1610 » Fri Dec 21, 2012 9:21 am

The Dec/Jan issue of AARP Magazine has an article called "The Influentials - 50 over 50." It says. "We looked beyond the politicians and power brokers to find the people affecting your life - and your future." There is one category called "Watching Our Wallets." It lists Suze Orman, Abigail Johnson (of Fidelity), Richard Cordray (Director, Consumer Financial Protection Bureau), Roger Ferguson (President and CEO, TIAA-CRREF), Joe Baker (President, Medicare Rights Center), Warren Buffet, Craig Newmark (Founder, Craigslist) and James Guest, (CEO, Consumer Reports.) Noticeably absent, in my opinion, is John Bogle.

Here's the email note I sent AARP:
In the "Watching our Wallets" portion of "The Influentials - 50 over 50" I was surprised to see that John Bogle was not included. Mr. Bogle, the founder of the Vanguard mutual fund organization, prolific writer, critic of Wall St. and the mutual fund industry, is the guy who brought us low-cost index mutual funds. These funds allow the average investor to achieve market gains (or, admittedly, losses) year after year, avoid high expenses and commissions. Academic research has shown that over the long-term, stock mutual funds based on broad market indexes such as the S&P 500 or the S&P Wilshire 5000 beat 75% of higher cost managed funds. As astute an investor as Warren Buffet has said that the majority of small investors are best served by investing in index mutual funds. Without John Bogle's foresight, concern for the average investor and integrity in pointing out abuses of the mutual fund industry, many seniors would be in far worse financial shape than they are.

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Re: AARP Magazine article (not an AARP bash)

Post by NYBoglehead » Fri Dec 21, 2012 9:36 am

Jack Bogle should definitely be included.

That said, AARP just can't help themselves. The "looked beyond" politicians and power brokers? Richard Cordray is a politically appointed bureaucrat and then they add the President of the "Medicare Rights Center." A lobbyist for those who open their eyes.

Not making any statements about their stances on anything, but to suggest that AARP steers clear of politics is absurd.

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