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4. 1. Whats your first reaction to the word retirement, and why? The first word coming into my mind about retirement is freedom. If I were retired now, I would have enough time of my own to do the things I have dreamed of: I would travel around the world with my friends; I would build a cottage of my own beside a river in the countryside, I would go fishing and do some gardening in my leisure time; I would … Reference:

5. 2.Look at the people around you who have already retired. Are they happy? Why or why not? Looking around, we can see more and more retired people in our community. They are our parents, our relatives, or our friends. Some of them lead a happy life after retirement, others do not. It all depends on at least two things: health and income. Those who have enough money and are healthy enough can always enjoy their lives. But those who lack either of the two may have a hard time. Looking around, we can see more and more retired people in our community. They are our parents, our relatives, or our friends. Some of them lead a happy life after retirement, others do not. It all depends on at least two things: health and income. Those who have enough money and are healthy enough can always enjoy their lives. But those who lack either of the two may have a hard time. Reference:

6. 3.What challenges do you think they may face after retirement? The retired may face at least in three aspects challenges: physical health; financial position and affectionate need. After a long time struggling all the way in their life career, many old people now suffer from poor health and need proper medical care, which is sometimes too expensive for them to afford. What s more, society at large and their families in particular might be too cold and too indifferent to them at a time when they need affectionate care the most. Therefore, some people describe the dark side of retirement as accompanied by poverty, boredom and loneliness. Personally, I m optimistic. With improvement of the social security system, we will find more and more happy retired people living in a warm, humane and loving social atmosphere. Reference:

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8. Facing the Fears of Retirement The day you retire, you're finished youre dead. This simple, widely believed statement was uttered often by a 77-year-old business founder even before he came out of retirement and took back control of the firm from his son. For many, retirement from the business they built seems a matter of life and death. No wonder so few have the courage or the inclination to face it. This fear of retirement often shows up early in unwillingness or inability to engage in succession planning. We find three prevalent beliefs held by those who cannot conclude or even begin succession planning:No wondersuccession Retirement scares me. We could lose it all. This business is who I am.

9. Retirement is frightening. It is a new, uncertain journey --- at a time when peace in life is treasured. Personal financial security is a powerful motivator to keep control of the business. The inability to "let go" is even more difficult for those who founded their businesses at a time of unemployment or family poverty.treasuredThe inability to "let go" is even more difficult for those who founded their businesses at a time of unemployment or family poverty For many who build successful enterprises, their business is their identity. It is said of one woman business owner, still in control in her 90s, that work is her oxygen. Some entrepreneurs started their businesses at least in part to prove themselves to former bosses who had rejected or doubted them. We find that they cling to their creations more strongly than most.identitycling For these reasons and others, too many business founders refuse to retire. They insist that only they are capable of running the business. Jealousy or insecurities relating to declining power generate interpersonal conflicts that spoil succession planning or even the performance of potential successors.conflicts

10. If an executive has not quite achieved what he had hoped, he often wants the opportunity to stay in the game. Rather than a graceful transition, the succession process can become a war. The parties to such a combat, however, should remember Winston Churchill's warning to the House of Commons1: If we open a quarrel between the past and the present, we shall find that we have lost the future. gracefulprocessIf we open a quarrel between the past and the present, we shall find that we have lost the future Fortunately, many business owners manage to face succession planning courageously, openly, and early. And because entrepreneurial succession is perhaps the most critical issue for family-business continuity, we're keenly interested in the makeup and background of those who do.courageously

11. Our conclusion: Its all a matter of outlook or attitude. Business owners who can plan succession and who can let go don't come necessarily from larger or smaller businesses. They don't come from businesses that are more or less fragile or that require more or less hands-on involvement. They dont necessarily even have more or less qualified successors to whom they can turn over their creations. They just have a different outlook or attitude toward the subject. For them, the glass is half full, not half empty.outlookfragileturn overFor them, the glass is half full, not half empty. Here are some attitudes about retirement that can help the process: Theres life after succession. Many business owners have personally observed the unhappy experience of someone else who died in the saddle. They had a partner or a friend who died young and never had a chance to retire. Or they succeeded parents who couldnt let go, and now they cant imagine imposing that oppression on another generation. These business owners see retirement as a stage in life they dont want to miss.in the saddleimposing

12. Ive got so much I want to do! We find those who plan succession properly are already eager to do more and different things at a relatively young age 50 or 55. They are already active in new interests (for example, teaching, politics, another venture, or philanthropy) and are pushing the preparation of their successors so they have more time full time for these other activities. They dont retire from their previous work but rather move up to new opportunities. There was a business here before me. In our experience, business owners who purchased their firms as part of a management buyout face succession planning more readily than business founders. It seems they recognize that presidents change but the business goes on. As one leader says, I wasnt hanging on because I was indispensable to the business but because the business was indispensable to me.With that understanding, he found other ways to build meaning into his life and moved on.I wasnthanging onbecause I wasindispensableto the business but because the business was indispensable to me.

13. Unfortunately, our culture does not provide acclaim for those who make the hard decision to do succession planning, even though so much is at stake. We worship founders, builders, chiefs --- but rarely do we read about or cheer those who gracefully and successfully turn their jobs over to their successors. That seems to be an even rarer talent and accomplishment.at stakeworshiptalentaccomplish Perhaps that is the reason management authority Peter Drucker refers to succession planning as a leaders final test of greatness. And having passed that test, the leader goes on to new challenges and satisfactions.Perhaps that is the reasonmanagementauthority Peter Drucker refers to succession planning as a leaders final test of greatness. (826 words)

14. no wonder not surprising not surprising Examples It is no wonder youve got a headache when you drank so much last night.It is no wonder youve got a headache when you drank so much last night. Traffic situation today was terrible, no wonder you were late.Traffic situation today was terrible, no wonder you were late.

15. succession n. the coming of one thing or person after another in time or order the coming of one thing or person after another in time or order Examples Who is first in succession to the throne is not yet clear.Who is first in succession to the throne is not yet clear. The days followed each other in quick succession and still no news came.The days followed each other in quick succession and still no news came. More to learn More to learn

16. More to learn More to learnExamples When the duke dies, his eldest son will succeed him on the throne.When the duke dies, his eldest son will succeed him on the throne. Lord Davis succeeded Sir Hugh as chairman of the commission.Lord Davis succeeded Sir Hugh as chairman of the commission. Succeed Succeed v. be the next to take a position or rank be the next to take a position or rank

17. Successor n. person or thing that comes after and takes the place of (sb./ sth.) person or thing that comes after and takes the place of (sb./ sth.) Examples Prince Martin, the first son of the king, is the only successor on the throne.Prince Martin, the first son of the king, is the only successor on the throne. He will never tell you who the headmasters successor will be.

18. treasure value (sth.) highly value (sth.) highly Examples I treasure the friendship between us.I treasure the friendship between us. From his reaction to your letter, I can tell he treasures your friendship.From his reaction to your letter, I can tell he treasures your friendship.

19. identity who or what sb./sth. is who or what sb./sth. is Examples The identity of the murdered woman has not yet been established.The identity of the murdered woman has not yet been established. The check will be cashed on proof of identity.The check will be cashed on proof of identity.

20. cling v. hold on tightly to sb/sth hold on tightly to sb/sth Examples After 30 minutes walking in the heavy rain, his wet shirt clung to his body.After 30 minutes walking in the heavy rain, his wet shirt clung to his body. They cling to one another for comfort.They cling to one another for comfort. More to learn More to learn

21. cling to: v. be unwilling to abandon sth; refuse to give up sth be unwilling to abandon sth; refuse to give up sth Examples They clung to the belief that her son is alive.They clung to the belief that her son is alive. She clung to the hope that she could pass the exam.

22. conflict n. 1)struggle 1)struggle Example There is a serious dispute, which could lead to armed conflict.There is a serious dispute, which could lead to armed conflict. 2) serious disagreement Example The two parties have been in conflict since the election.The two parties have been in conflict since the election. The governors refusal to apply the law brought him into conflict with the federal government.The governors refusal to apply the law brought him into conflict with the federal government.

23. graceful 1) pleasing in both style and attitude 1) pleasing in both style and attitude Examples The audience were deeply attracted by her graceful dancing.The audience were deeply attracted by her graceful dancing. 2) polite and considerate Examples A graceful apology may change the present unfriendly atmosphere between them.A graceful apology may change the present unfriendly atmosphere between them.

24. process n. series of actions or operations performed in order to do, make or achieve sth. series of actions or operations performed in order to do, make or achieve sth. Examples Reforming the education system will be a difficult process.Reforming the education system will be a difficult process. Coal was formed out of dead forests by a long slow process of chemical change.Coal was formed out of dead forests by a long slow process of chemical change.

25. courageous adj. brave fearless brave fearless Examples It was courageous of her to oppose her boss.It was courageous of her to oppose her boss. He was known as a courageous person.He was known as a courageous person.

26. outlook n. 1) persons way of looking at life 1) persons way of looking at life Examples Living in such an unhappy family, he has formed a very strange outlook on life.Living in such an unhappy family, he has formed a very strange outlook on life. What he needs most is a tolerant, forgiving outlook on life.What he needs most is a tolerant, forgiving outlook on life. More to learn More to learn

27. outlook n. 2) view on which one looks out 2) view on which one looks out Examples The house has a pleasant outlook over the valley.The house has a pleasant outlook over the valley. 3) what seems likely to happen; future prospects Examples According to the forecast, the weather outlook for the weekend is bad.

28. fragile 1) easily damaged or broken 1) easily damaged or broken Examples Wed better keep a distance between us or we may break the already fragile relationship between us.Wed better keep a distance between us or we may break the already fragile relationship between us. No matter how eagerly pursued, human happiness is fragile.No matter how eagerly pursued, human happiness is fragile. More to learn More to learn

29. fragile 2) having a small thin body or weak in health Examples The old lady was very fragile after her operation.The old lady was very fragile after her operation.

30. turn over a. 1) give the control or management of sth to sb 1) give the control or management of sth to sb Examples The confidential report has been turned over to the President.The confidential report has been turned over to the President. They turned the wanted man over to the authorities.They turned the wanted man over to the authorities. More to learn More to learn

31. 2) think about carefully; consider in various ways Example She turned the problem over in his mind.She turned the problem over in his mind. 3) (cause sb/sth to) face in another direction by rolling Example Though it was very noisy outside, she turned over and went to sleep.

32. in the saddle on horseback; in a position of control on horseback; in a position of control Examples The director hopes to remain in the saddle.The director hopes to remain in the saddle.

33. impose 1)force sb to accept Examples The magistrate imposed a fine of $500. The company has imposed very strict conditions on the registrations of clerks. More to learn More to learn

34. Impose 2) to establish (an additional payment) officially Examples A new tax has been imposed on wines and spirits in the United States.

35. hang on 1) grip sth firmly Examples Hang on to the strap; the bus is about to start. More to learn More to learn

36. hang on 2) to continue waiting Examples Hang on a minute, Im coming! Im afraid the line is engaged, would you like to hang on? 3) to continue in spite of difficulties Examples I know youre tired, but try to hang on a bit longer.

37. indispensable absolutely essential absolutely essential Examples After years of hard work, she has become quite indispensable to the company. A telephone is an indispensable piece of equipment for any office.

38. at stake to be won or lost Examples This decision, made by the inexperienced manager, has put our company at stake. If we lose the contract, hundreds of jobs are at stake.

39. worship 1) strong usu. religious feelings of love, respect and admiration Examples Seeing the coming of the Queen, they bowed their heads in worship.Seeing the coming of the Queen, they bowed their heads in worship. 2) 2) feel love and admiration for (sb/sth) to such an extent that one cannot see his/its faults Examples She worshiped him so much that she refused to listen to his critics.She worshiped him so much that she refused to listen to his critics.

40. talent 1) (instance of) special or very great ability Examples Owing to her remarkable talent for drawing, she was accepted by the famous artist as a student of his.Owing to her remarkable talent for drawing, she was accepted by the famous artist as a student of his. More to learn More to learn

41. talent 2) people who have a talent Examples At this critical moment, the only thing we can do is to pray for the appearance of a talent. There was a lack of local talent, so the drama group hired an actor from London.

42. accomplish succeed in doing sth.; complete successfully Examples Lazy as she is, shes accomplished a great deal in the last few weeks. Though it is necessary, I dont feel our visit really accomplished anything. More to learn More to learn

43. Accomplishment successful completion thing achieved Examples Being able to play the piano well is one of his many accomplishments.

44. management 1)control and organization (of a business, etc) Examples The companys failure was mainly due to bad management. I will take the management course in this university. More to learn More to learn

45. management 2) the people in charge of a company, industry, etc. Examples After a two-week strike, the workers decided to have talks with the management. The union has agreed to talk with the senior management.

46. The inability to let go is even more difficult for those who founded their business at a time of unemployment or family poverty: Let go here means to follow the law of nature, to accept reality. The sentence means that those who have experienced unemployment or poverty would find more difficult to accept the idea of retirement from their position and their subsequent loss of power. Paraphrase

47. If we open a quarrel between the past and the present, we shall find that we have lost the future. This famous quotation first appeared in Winston Churchills speech to the House of Commons -- Their finest hour on June 18, 1940. At that time, the Germany Armies broke the French front, and the French troops and the British Expeditionary Force were forced to withdraw at Dunkirk with great loss. To call for more support of the House of Commons to send the British army to the front to fight against the enemy, Churchill warned that if they continued to hesitate about the necessity of it, the country might lose the future. Paraphrase

48. For them, the glass is half full, not half empty: Half full and half empty are two kinds of outlook of the world. The glass is half full means there is still hope, and the world is coming a better, richer place. It is optimistic. The glass is half empty means we have lost half of what we have, and the world is coming to an end. It is pessimistic. Paraphrase

49. I wasn't hanging on because I was indispensable to the business but because the business was indispensable to me. I held on to the business firmly not because the business could not go on without me but because I could not live without the business. Words to learn: hang on indispensablehang onindispensableParaphrase

50. Perhaps that is the reason management authority Peter Drucker refers to succession planning as a leades final test of greatness. This is the probable reason that Peter Drucker, the management authority, says that succession planning is the last test of greatness retiring business founders and bosses are facing. Words to learn: management Paraphrase

51. Passage B Think About ItThink About ItThink About ItThink About It Read About ItRead About ItRead About ItRead About It

52. Before reading Passage B, try to describe the following pictures to your classmates.

53. 1. Where do you think the old peoples pensions mainly come from? It mainly comes from the taxes paid by the people who work. Reference:

54. 2. What would happen to pensions if we had fewer people in the next generation? It would make it more difficulties for the next generation to provide pension for the old. Reference:

55. 3. What should we do now to maintain our standard of living after retirement? We should save money for our future when we are retired, and the retiring pension system is a kind of social savings for this. Reference: Try to find implied main idea of the passage.

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57. Many Baby Boomers Are Worried About Prospects for Retirement When Elizabeth Buras father retires four years from now after 30 years with a lift repair company, hell receive monthly checks from his companys pension plan and Social Security1. Hell also receive income frommonthly But the way Buras sees it, when retirement rolls around for her husband, a 35-year-old manager at a Houston computer consulting company, theres just going to be the money theyve been socking away in their 401(k)s every month and whatever other personal savings theyveBut the way Buras sees it, when retirement rolls around for her husband, a 35-year-old manager at a Houston computer consulting company, theres just going to be the money theyve been socking away in their 401(k)s every month and whatever other personal savings theyve scraped together by then.scraped togetherby then. his companys 401(k) retirement plan and from his own investments.investments

58. A pension? I dont think so. Social Security? Thats anybodys guess, says 32-year-old Buras, a stay-at-home mom. I guess were on our own. Shes probably right. For Americans born in 1935, the year Social Security began, the average life expectancy was just 63 years. By the time Buras and her husband were born, life expectancy had jumped to 70 years. A lot more people are making it to retirement age and beyond, and thats expensive both for the government and for employers who are anxious to cut costs. Unfortunately, a lot of future retirees havent been paying attention or they haven't started doing anything about it.

59. Even though members of the older generation could look forward to more help with retirement and had lower expectations about maintaining their standard of living after retirement, they also tended to be more concerned about staying out of debt and saving as much money as possible, says Michael Booker, a certified financial planner with Financial Synergies Asset Management in Houston.certified The Depression had a profound effect on that generation. When it comes to the future, many people today have this bulletproof mentality, says Booker. Thats scary.When it comes to the future, many people today have this bulletproof mentality Financial planners say what todays workers need to understand what they may know intellectually but what hasnt truly sunk in yet is that they cant count on anyone but themselves to pay for their retirement.what they may know intellectually but what hasnt truly sunk inyet is that they cantcount on anyone but themselves to pay for their retirement.

60. The most obvious reason is that Social Security, which averages $745 a month for todays retirees and accounts for 42 percent of their income, may not be there for all of tomorrow's retirees.accounts for A lot of people think that the 6.2 percent siphoned from their paychecks into Social Security coffers will be held for them and returned when they're ready to retire. Not so. Their taxes go to todays retirees. When its time for todays workers to collect their own gold pocket watches, they'll have to rely on taxes paid by those still on the job. Unfortunately, the first of the baby boomers are just a decade away from retirement, and the United States isnt churning out as many workers as it used to.and the United States isntchurning outas many workers as it used to.

61. Although Social Security currently has a surplus because of the baby boomers contributions, a crisis may be looming. According to the Social Security Administration, the number of Americans over 65 will double between 1990 and 2030, while the working-age population will grow only 25 percent. That means there will be just two workers for every retiree, compared with 3.3 workers today. And many experts say that's optimistic. Another major source of income for todays future retirees is also evaporating: Employers aren't taking as much responsibility for their employees retirement as they used to. More than twice as many employers offered pension plans in 1984 as in 1995, according to a survey by Watson Wyatt Worldwide, a pension consulting firm.

62. Smaller companies have dropped pension plans as costs have risen, says Chuck Bardwell at Watson Wyatt's Houston office, and even the larger companies pension benefits arent as rich as they used to be. On the flip side, employees arent as willing to stick around long enough to qualify for a satisfactory pension. They may fear getting laid off or they may just be restless.fliplaid off Life is moving so fast, with the modern couple spending so much of their time on work and raising their children, that they often dont look up until theyre 50. By then it can be too late, says Booker.with the modern couple spending so much of their time on work and raising their children, that they often dont look up until theyre 50 Its a point that is not lost on Ken Buras. Were cognizant of what we need to be doing, but I dont think weve aggressively pursued it enough, admits Buras, who neither saves the maximum amount allowed in his 401(k) nor sets aside any money for other savings from his paycheck.aggressivelymaximumsets aside

63. For the Burases, the big worry is saving enough money to put their 6-year-old child through college someday. Were more still looking 10 years ahead instead of 30 years ahead, says Elizabeth Buras. I know that's not good, but thats the way we think. White, a financial planner, says she has these simple words of advice for clients who dont take the long view: If you dont send anything ahead, you wont have anything when you get there.If you dont send anything ahead, you wont have anything when you get there. (826 words)

64. monthly adj. 1)done, happening once a moth or every month 1)done, happening once a moth or every month Example The monthly meeting of the company will be cancelled because of the accident.The monthly meeting of the company will be cancelled because of the accident. 2) payable, valid or calculated for one month Example He gets a monthly income of $8 000, which makes him lead a comfortable life in the small countryside.

65. invest v. use (money) to buy shares, property, etc., in order to earn interest or bring profit use (money) to buy shares, property, etc., in order to earn interest or bring profit Example Your bank manager has the duty to advise you where to invest your money. He invested one million dollars in an oil company last year, which made him a big profit. More to learn More to learn

66. investment investing of money investing of money Example He sold off all his investments in South America because he desperately needed money for his childrens education. The government is trying to attract more investment into the shipbuilding industry.

67. scrape together gather (a total, esp. of money) with difficulty by putting small amounts together gather (a total, esp. of money) with difficulty by putting small amounts together Examples If we want to rent a big apartment in the capital city, we must scrape together enough to pay the deposit.If we want to rent a big apartment in the capital city, we must scrape together enough to pay the deposit. With the help of this advertisement company, we scraped together an audience of fifty thousand for the play.With the help of this advertisement company, we scraped together an audience of fifty thousand for the play.

68. certify v. to declare that (sth) is correct or true, esp. after some kind of test to declare that (sth) is correct or true, esp. after some kind of test Examples I certify that I witnessed the signing of this document.I certify that I witnessed the signing of this document. The doctor agreed to certify that the prisoner is insane, though he doesnt like him.The doctor agreed to certify that the prisoner is insane, though he doesnt like him. More to learn More to learn

69. certified being officially declared being officially declared Examples Since it is a very important case, I will send it to you by certified mail.Since it is a very important case, I will send it to you by certified mail.

70. sink in 1) of words, etc be fully understood 1) of words, etc be fully understood Example The news was such a shock; it still hasnt really sunk in yet. The scale of the tragedy gradually sank in. More to learn More to learn

71. sink in 2) enter a solid through the surface 2) enter a solid through the surface Example If the ink sinks in itll be hard to remove the mark from the cloth.If the ink sinks in itll be hard to remove the mark from the cloth.

72. count on 1) rely on sb./sth. with confidence 1) rely on sb./sth. with confidence Examples Whenever we need help, she can always be counted on for support.Whenever we need help, she can always be counted on for support. According to the weather forecast, you cant account on the weather being fine tomorrow.According to the weather forecast, you cant account on the weather being fine tomorrow. More to learn More to learn

73. count on 2) expect; take into account Examples From his reaction to your requirement, I am sure that you cant count on John arriving so early.From his reaction to your requirement, I am sure that you cant count on John arriving so early.

74. account for be the explanation of sth.. be the explanation of sth.. Examples The defendant couldnt account for the fact that the money was found in his house.The defendant couldnt account for the fact that the money was found in his house. How do you account for losing five games in such a short period of time?How do you account for losing five games in such a short period of time?

75. churn sth out produce sth (usu. of bad quality) in large quality produce sth (usu. of bad quality) in large quality Example She has churned out 15 romantic stories in recent years, though she has never been in love.She has churned out 15 romantic stories in recent years, though she has never been in love. Without any experiments or practice, how can you churn out so many papers?Without any experiments or practice, how can you churn out so many papers?

76. flip 1) quick light blow or movement, esp. one that tosses sth. 1) quick light blow or movement, esp. one that tosses sth. Examples They flipped a coin to decide who would go first.They flipped a coin to decide who would go first. More to learn More to learn 2) become very angry, excited or enthusiastic Examples My mother really flipped when I told her I was going married.My mother really flipped when I told her I was going married.

77. flip side side of record, the side that does not have the main song on it. side of record, the side that does not have the main song on it. on the flip side on the other hand Example It is not really a good idea to retire so early, but on the flip side, you may have more spare time to enjoy the life.It is not really a good idea to retire so early, but on the flip side, you may have more spare time to enjoy the life.

78. lay sb. off 1) dismiss (workers), usu for a short time 1) dismiss (workers), usu for a short time Examples During the recession he laid us off for three months, though he didnt want to.During the recession he laid us off for three months, though he didnt want to. They were laid off because of the lack of new orders.They were laid off because of the lack of new orders. More to learn More to learn

79. lay sb. off 2) stop doing or using sth harmful etc Examples Ive smoked cigarettes for years, but now Im going to lay it off.Ive smoked cigarettes for years, but now Im going to lay it off. You must lay off alcohol for a while; otherwise you will get a stomach cancer.You must lay off alcohol for a while; otherwise you will get a stomach cancer.

80. aggressive 1) offensive 1) offensive Example This country is regarded as an aggressive nation which threatens world peace.This country is regarded as an aggressive nation which threatens world peace. 2) forceful Example A good salesman must be aggressive if he wants to succeed in the market exploration.A good salesman must be aggressive if he wants to succeed in the market exploration.

81. maximum greatest amount, size, intensity, etc possible or recorded greatest amount, size, intensity, etc possible or recorded Example The living room of his new apartment holds a maximum of thirty people.The living room of his new apartment holds a maximum of thirty people. Whats the maximum amount of wine youre allowed to take through customs duty-free?Whats the maximum amount of wine youre allowed to take through customs duty-free?

82. set aside save or keep (money or time) for a particular purpose save or keep (money or time) for a particular purpose Examples She decided to set aside a little money each week for her son to study abroad.She decided to set aside a little money each week for her son to study abroad. I have told you that I would set aside some time to visit you.I have told you that I would set aside some time to visit you.

83. But the way Buras sees it, when retirement rolls around for her husband, …, theres just going to be the money theyve been socking away in their 401(k)s every month and whatever other personal savings theyve scraped together by then. Buras understands that when her husband comes to the age of retirement, …the money they can get are only those they paid to the 401(k)s and the savings of their own by then. Words to learn: scraped togetherscraped togetherParaphrase

84. The Depression had a profound effect on that generation. The Depression refers to the worst and longest economic collapse in the history of the modern industrial world, lasting from the end of 1929 until the early 1940s, which had a deep effect on the generation of that time. Paraphrase

85. …when it comes to the future, many people today have this bulletproof mentality As to the future, many people today dont worry or care about it. Paraphrase

86. What they may know intellectually but what hasnt truly sunk in yet is that they cant count on anyone but themselves to pay for their retirement. The baby-boomers intellectually know but havent yet completely accepted the fact that they cannot depend on anyone else but themselves for their retirement. Words to learn: sunk in count onsunk incount onParaphrase

87. …and the United States isnt churning out as many workers as it used to. …there are not enough workers to support the retirees as there used to be in the United States. Words to learn: churning outchurning outParaphrase

88. …, with the modern couple spending so much of their time with work and raising their children, that they often dont look up until theyre 50. The modern couple devote themselves to their work and family so greatly that they even dont realize the severe situation they may face after retirement until they are 50 years old. Paraphrase

89. If you dont send anything ahead, you wont have anything when you get there. If you dont make any preparation for your future life, you may find that you have nothing to depend on when it is time for you to retire. Paraphrase