lifetime memberships, desperate grab for money?

[sv2007]

What do you think about annual memberships?

I don't trust them. Each time I get offered one, I'm fearful of the company's stability and/or its long term commitment. So I always turn it down. Mainly, my past experiences weren't great:

1. remember netzero internet service? You can pay a one time fee of $90 and get free dial up internet for life.

Well, I paid that. But after just 2-3 months, they announced suspension of services; then they announced restart but with ads (the ads never worked but the speed was incredibly slow). I think I got online maybe 10 times total either because they have too many customers or not enough modems (lots of busy tone).

2. Remember 24 hour fitness when they had 1 type of club? You can pay $700 for lifetime membership and just $50 annual renewals.

Well, I paid that. Then after about 1 yr they started to introduce levels and made a club I go to a super sport, which my membership doesn't work. Since I only need their swimming pool, I only "renewed" once.

I'm sure there are more if I think a bit more.

I'm a bit worried about my son's cord blood storage. Recently on the last renewal, they offered a lifetime membership (storage for lifetime) for only $500-600. That's about 4yr's costs. I didn't take it; but I'm worried the company wouldn't be around.

I almost joined NRA lifetime membership, but decided to renew annually (a requirement for my gun club). If I signed up for lifetime, I think this would have been the only one that made financial sense.

What's your view on lifetime membership?

[QuarterMillionMan]

I didn't sign up but Magic Jack has 5 years of service for $99 ($20 a year). Instead I have the yearly service for $35.

Many years ago I remember Nautilus fitness center in Hawaii had some kind of promotion similar to the lifetime membership and pulled the rug but luckily I didn't sign up.

I can't think of anything else at the moment.

[TexasHusker]

Lifetime memberships end when the company's life ends.

[disneysteve]

Your title is about lifetime memberships but your question is also about annual memberships. I think those are two very different things.

We have numerous annual memberships. We have zero lifetime memberships.

As TexasHusker points out, a "lifetime" membership doesn't refer to your lifetime but rather to the company's lifetime and who knows how long that is. There's no way to know if the price is a good deal without knowing how many years you are paying for. If they close up 2 years from now, it was quite a waste.

What annual memberships do we have?
AAA
AARP
Men's Club and Sisterhood from our synagogue
A couple of professional organizations that I need to belong to for work
Amazon Prime
Annual passes to Walt Disney World

I'm sure there are others but those are the ones that come to mind at the moment.

[FLA]

I have lifetime membership on all our tivos, I'm grandfathered in as they don't offer this anymore. I have saved a ton on tivos this way instead of paying the monthly fees. I've recouped the costs a few times over so I'm still ahead even if they go out of business

I have Amazon prime

when I am cleared to really exercise, I'm going back to the Y and getting with the grant lady. They have programs for low income people. I didn't know it but we could've gotten one for me and two kids for cheaper just based off a nurse's salary. So you don't have to be very low income to get some discount. It was $70 a month (without a grant) and I couldn't justify that with gyms offering $10 a month. But I prefer the Y, there are more people of all walks of life, ages and all sorts of sizes, I don't feel like I stick out there.

I have month to month cell service with Cricket, that was a good move from AT&T.

[TexasHusker]

I have lifetime membership on all our tivos, I'm grandfathered in as they don't offer this anymore.

So once your grandfather dies it's over? How hold is gramps?

[FLA]

gramps are both 6 ft under, shhh, don't tell tivo

[TexasHusker]

gramps are both 6 ft under, shhh, don't tell tivo

I'll keep it QT.

[sv2007]

Another lifetime membership I almost joined was frontsight; they run a training center near Las Vegas (where I visit fairly often). But again, past bad experiences and the worry about company's financial health (why else would a company offer lifetime memberships) stopped me from joining.

[sv2007]

Your title is about lifetime memberships but your question is also about annual memberships. I think those are two very different things.

I'm talking about the sales pitches that changes your annual memberships or fees into a lifetime membership.

For example, CBR (cord blood storage) has a current annual fess of $125 but if I pay $600 this year, I'd never have to pay for the rest of my son's lifetime (don't really know how they determine that). This sounds like a great deal, but past experiences have shown me that desperate companies do this kind of thing.

The only legit one seems to be NRA. You can pay $50-100 annually for membership (and after 5 years, maybe 7now, you can even vote their directors), or you can pay something like $500 for lifetime membership. This is generally a required payment/membership for gun enthusiasts as NRA membership is usually a club requirement.

[disneysteve]

I'm talking about the sales pitches that changes your annual memberships or fees into a lifetime membership.

What do you think about annual memberships?

Sorry, you're original post was a little confusing then. You clearly asked what we think about annual memberships. That's very different than what we think about lifetime memberships. I think annuals are fine in most cases. I think lifetime is not in most cases.

[Like2Plan]

I think it depends. We have a couple of data points.

1. My Mom purchased a lifetime discount club membership that United Airlines was offering to seniors. We figured it would be useful since Mom was on the west coast and we are on the east coast. A few years later United sent out a letter stating they were discontinuing the program and offered a couple of discount coupons for compensation.

2. We purchased lifetime balance and rotating tires program. The company went bankrupt before we retired our car (which we had for 14 years).

3. DH joined a professional organization when he was in his 20's--about 40 years ago. I think that was cost effective.

4. We signed up for a multi-year AARP membership. That has worked out okay.

There are a couple of other professional organizations that we have signed up for as well. We haven't had good luck with lifetime contracts with commercial concerns, but the professional organizations have worked out pretty well.