Don't Retire, Start a Micro Business
Retirem ent today is either something that people welcome, or dread. In the UK, the age to qualify for your pension seems to move further away with successive govenments. And with no legal retirement age in the UK, if you want to and your company agrees, you can keep working for as long as you like. Do you want to continue with your employm ent is the question many are asking. A realistic altemative is to start your own micro business.
As the cost of living continues to rise, many in the over 60 age group in particular are looking for altemative ways to make ends meet. But also, how they can take more control of their lives by creating porfolio careers or, staring micro businesses.
The gig economy continues to expand. This fledgling working environm ent continues to define its rules of engagement, but for many, the gig economy has opened a new way to eam an income on their tems. In a report 'Gig Economy Workers and the Future of Retirement', it is found that sixteen percent of Americans plan to take a gig job in their retirem ent. Similar numbers are likely in the UK For those who have no intention of retiring, it is using their business in a dffeent way: a micro business can ensure you have a comfortable retirem ent. If anyone is thinking of winding down his working lives, or that want to make a change, he is to start a new micro business now. Developing this enterprise over the next few years could lead to a healthy second income that could replace the money you will have available if you do fully retire. This is the approach many over 60s are taking as they often top surveys of new business owners. Indeed, the concept of the 'older entrepreneur' is fast becoming the nom, outstipping the often-quoted Mllennial group, as the most entrepreneurial.
21.In the UK, the age for retirem ent and the pension seems to go by working.()
A.for as long as you like
B.less than sixty
C.till getting the pension
D.till health problems occur
22.What is thelegal age of retirement in the U.SA. according to the passage?()
A.60
B.65
C.55
D.None of above
23.According to the passage, the realistic suggestion for retired people is()
A.to keep working
B.to plan second job after retirem ent
C.to take no plans after retirem ent
D.to start their own micro business
24.How many of Americans plan to take a gig job in their retirem ent?()
A.16%
B.6%
C.60%
D.1.6%
25.The author's atitude that we could infer from the passage is likely to be().
A.persuasive
B.suggestive
C.critical
D.offensive
第1题
Analyze the following newspaper column: “What’s the best age for a person to start collecting Social Security benefits? According to conventional wisdom, retirement starts at age 65. It’s true that full benefits don’t start until age 65, but 62 year olds can retire and collect 80% of their benefits. Take the hypothetical cases of John and Mary, who have the same birthday and who are both slated to start drawing $1,000 a month in Social Security benefits at age 65. On his 62nd birthday, John decides to go ahead and start claiming his benefits of $800 a month (80% of $1000). Mary decides to wait until she’s 65, when she can claim the full $1000. Three years later, Mary turns 65 and begins receiving $1,000 a month from the Social Security Administration. John continues to receive $800 a month. But he has already been paid $28,800 while Mary received nothing. Five years go by, with Mary drawing $1,000 a month and John $800 a month. At 70, John has received $76,800, compared to Mary’s $60,000. When they reach 77, Mary will pull ahead. So, it seems if a person doesn’t live past 76, it would better to start collecting Social Security benefits at 62. For those who reach their upper 70’s, it pays to wait until they are 65 to collect Social Security. (adapted from Ó 1998, Atlanta Business Chronicle, Gary Summer Contributing writer, June 29, 1998.)
第2题
A.the aged must retire at a certain age
B.the aged worked till death
C.there is no retirement age the aged must observe
D.the aged needn't work if they don't like to
第3题
In the three communities______.
A.the aged must retire at a certain age
B.the aged worked till death
C.there is no retirement age the aged must observe
D.the aged needn't work if they don't like to
第4题
Directions: In this part you will have 15 minutes to go over the passage quickly and answer the questions on Answer Sheet 1. For questions 1-7, choose the best answer from the four choices marked A), B). C) and D). For questions 8-10, complete the sentences with the information given in the passage.
How to Retire Earlier
It's every working staff's dream: saying goodbye to the daily grind while you still have your own teeth. In our early retirement fantasies, we're traveling the world, healthy and in the prime of our lives, visiting those hard-to-pronounce countries we've always talked about and sampling the finest local fare.
Retirement-related Problems
Surveys show that more than half of workers between the ages of 30 and 50 plan to retire before they're 60. But there's only one problem with this wishful thinking: Retiring early is easy, but making your money last is hard.
One problem with saving up for early retirement is that we tend not to think beyond those first few glorious years of good health and full checking accounts-we don't do the long-term math. If the average male life expectancy is 75.2 and we retire at 55, then our savings, and stock market investments need to last for 20 years. And what if we live even longer than average?
And don't forget that life can get tricky during those last five or ten years. Very few fortunate souls drift away in their sleep at age 88 without ever having major surgeries, hospitalizations or chronic (and expensive) conditions to manage-not to mention the ever-increasing costs of medical insurance and prescription drugs.
While we tend to overestimate our health, we underestimate our post-retirement financial needs. A 2002 survey found that only 17 percent of workers thought they'd need 80 percent of their salary after retirement. Forty percent thought they'd be fine with 60 percent of current earnings. That might suffice for a few good years, but the longer you live, the less chance your money will last.
Furthermore. isn't it possible that traveling the world and living out of a suitcase could get pretty tedious? Did you ever think that you might be bored without a day job? Do you have enough hobbies and interests to sustain you for 20 to 30 years without business trips, deadlines and daily meetings?
But don't get discouraged. If you're serious about retiring early and dedicated to making it work, you can make it happen. All it takes is some serious financial planning, a strict budget and some good old-fashioned luck.
So how do you start planning for an early retirement? What are the most important calculations? What are some common mistakes?
Financial Planning
The first step when planning for an early retirement is to figure out exactly how much money you have right now. This is called your net worth. Net worth is calculated by adding up all of your assets (cash, stocks, retirement accounts and the value of your home) and subtracting all of your outstanding debt (mortgage, student loans and credit card debt).
When you know how much you have, you need to figure out how much money you'll need when you retire. This amount depends on several factors: what you want to do when you retire, how early you want to retire and what standard of living you want to enjoy when retired.
If you want to keep up your current standard of living as a retiree, the rule of thumb is that you'll be spending monthly at least 80 percent of what you're spending now. That other 20 percent you won't be spending accounts for work-related expenses: gas or public transportation fares for your commute, dry cleaning bills, lunches and the like. But if you plan t
A.Because old people tend to sleep more than average.
B.Because old people's health usually fails during that time.
C.Because the life after retirement could be very long or very short.
D.Because some old people cannot endure major surgeries.
第5题
Part Ⅱ Reading Comprehension (Skimming and Scanning)
Directions: In this part you will have 15 minutes to go over the passage quickly and answer the questions on Answer Sheet 1. For questions 1-7, choose the best answer from the four choices marked A), B). C) and D). For questions 8-10, complete the sentences with the information given in the passage.
How to Retire Earlier
It's every working staff's dream: saying goodbye to the daily grind while you still have your own teeth. In our early retirement fantasies, we're traveling the world, healthy and in the prime of our lives, visiting those hard-to-pronounce countries we've always talked about and sampling the finest local fare.
Retirement-related Problems
Surveys show that more than half of workers between the ages of 30 and 50 plan to retire before they're 60. But there's only one problem with this wishful thinking: Retiring early is easy, but making your money last is hard.
One problem with saving up for early retirement is that we tend not to think beyond those first few glorious years of good health and full checking accounts-we don't do the long-term math. If the average male life expectancy is 75.2 and we retire at 55, then our savings, and stock market investments need to last for 20 years. And what if we live even longer than average?
And don't forget that life can get tricky during those last five or ten years. Very few fortunate souls drift away in their sleep at age 88 without ever having major surgeries, hospitalizations or chronic (and expensive) conditions to manage-not to mention the ever-increasing costs of medical insurance and prescription drugs.
While we tend to overestimate our health, we underestimate our post-retirement financial needs. A 2002 survey found that only 17 percent of workers thought they'd need 80 percent of their salary after retirement. Forty percent thought they'd be fine with 60 percent of current earnings. That might suffice for a few good years, but the longer you live, the less chance your money will last.
Furthermore. isn't it possible that traveling the world and living out of a suitcase could get pretty tedious? Did you ever think that you might be bored without a day job? Do you have enough hobbies and interests to sustain you for 20 to 30 years without business trips, deadlines and daily meetings?
But don't get discouraged. If you're serious about retiring early and dedicated to making it work, you can make it happen. All it takes is some serious financial planning, a strict budget and some good old-fashioned luck.
So how do you start planning for an early retirement? What are the most important calculations? What are some common mistakes?
Financial Planning
The first step when planning for an early retirement is to figure out exactly how much money you have right now. This is called your net worth. Net worth is calculated by adding up all of your assets (cash, stocks, retirement accounts and the value of your home) and subtracting all of your outstanding debt (mortgage, student loans and credit card debt).
When you know how much you have, you need to figure out how much money you'll need when you retire. This amount depends on several factors: what you want to do when you retire, how early you want to retire and what standard of living you want to enjoy when retired.
If you want to keep up your current standard of living as a retiree, the rule of thumb is that you'll be spending monthly at least 80 percent of what you're spending now. That other 20 percent you won't be spending accounts for work-related expenses: gas or public transportation fares for your commute, dry cleaning bills, lunches and the like. But if you plan t
A.Because old people tend to sleep more than average.
B.Because old people's health usually fails during that time.
C.Because the life after retirement could be very long or very short.
D.Because some old people cannot endure major surgeries.
第6题
Directions: In this part you will have 15 minutes to go over the passage quickly and answer the questions on Answer Sheet 1. For questions 1-7, choose the best answer from the four choices marked A), B), C) and D). For questions 8-10, complete the sentences with the in formation given in the passage.
How to Retire Earlier
It's every working staff's dream: saying goodbye to the daily grind while you still have your own teeth. In our early retirement fantasies, we're traveling the world, healthy and in the prime of our lives, visiting those hard-to-pronounce countries we've always talked about and sampling the finest local fare.
Retirement-related Problems
Surveys show that more than half of workers between the ages of 30 and 50 plan to retire before they're 60. But there's only one problem with this wishful thinking: Retiring early is easy, but making your money last is hard.
One problem with saving up for early retirement is that we tend not to think beyond those first few glorious years of good health and full checking accounts—we don't do the long-term math. If the average male life expectancy is 75.2 and we retire at 55, then our savings, and stock market investments need to last for 20 years. And what if we live even longer than average?
And don't forget that life can get tricky during those last five or ten years. Very few fortunate souls drift away in their sleep at age 88 without ever having major surgeries, hospitalizations or chronic (and ex- pensive) conditions to manage—not to mention the ever-increasing costs of medical insurance and prescription drugs.
While we tend to overestimate our health, we underestimate our post-retirement financial needs. A 2002 survey found that only 17 percent of workers thought they'd need 80 percent of their salary after retirement. Forty percent thought they'd be fine with 60 percent of current earnings. That might suffice for a few good years, but the longer you live, the less chance your money will last.
Furthermore, isn't it possible that traveling the world and living out of a suitcase could get pretty tedious? Did you ever think that you might be bored without a day job? Do you have enough hobbies and interests to sustain you for 20 to 30 years without business trips, deadlines and daily meetings?
But don't get discouraged. If you're serious about retiring early and dedicated to making it work, you can make it happen. All it takes is some serious financial planning, a strict budget and some good old-fashioned luck.
So how do you start planning for an early retirement? What are the most important calculations? What are some common mistakes?
Financial Planning
The first step when planning for an early retirement is to figure out exactly how much money you have right now. This is called your net worth. Net worth is calculated by adding up all of your assets (cash, stocks, retirement accounts and the value of your home) and subtracting all of your outstanding debt (mortgage, student loans and credit card debt).
When you know how much you have, you need to figure out how much money you'll need when you retire. This amount depends on several factors: what you want to do when you retire, how early you want to retire and what standard of living you want to enjoy when retired.
If you want to keep up your current standard of living as a retiree, the rule of thumb is that you'll be spending monthly at least 80 percent of what you're spending now. That other 20 percent you won't be spending accounts for work-related expenses: gas or public transportation fares for your commute, dry cleaning bills, lunches and the like. But if you plan to tr
A.Because old people tend to sleep more than average.
B.Because old people's health usually fails during that time.
C.Because the life after retirement could be very long or very short.
D.Because some old People cannot endure major surgeries.
第9题
They are newcomers and (don't realize) (what) (takes it) to start and (run)a business here.
A.don't realize
B.what
C.takes it
D.run
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