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1. What’s your first reaction to the word “retirement”, and why?1. What’s your first reaction to the word “retirement”, and why?

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

Reference:Reference:

2.2. Look at the people around you who have already retired. Look at the people around you who have already retired. Are they happy? Why or why not? Are they happy? Why or why not?

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


3.3. What challenges do you think they may face after What challenges do you think they may face after retirement? retirement?

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


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Facing the Fears of Retirement “The day you retire, you're finished —

you’re 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 thebusiness 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: “Retirement scares me.” “We could lose it all.” “This business is who I am.”

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.

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.

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.

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.”

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.

Our conclusion: It’s 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 don’t 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.

Here are some attitudes about retirement that can help the process:

“There’s 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 couldn’t let go, and now they can’t imagine imposing that oppression on another generation. These business owners see retirement as a stage in life they don’t want to miss.

“I’ve 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 don’t 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 wasn’t 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.

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.

Perhaps that is the reason management authority Peter Drucker refers to succession planning as a leader’s “final test of greatness.” And having passed that test, the leader goes on to new challenges and satisfactions.

(826 words)

no wonderno wonder

— — not surprisingnot surprising

ExamplesExamples

• It is It is no wonderno wonder you’ve got a headache when you drank you’ve got a headache when you drank so much last night.so much last night.

• Traffic situation today was terrible, Traffic situation today was terrible, no wonderno wonder you you were late.were late.

successionsuccession n.n.

— — the coming of one thing or person after another in the coming of one thing or person after another in time or ordertime or order

ExamplesExamples

• Who is first in Who is first in successionsuccession to the throne is not yet clear. to the throne is not yet clear.

• The days followed each other in quick The days followed each other in quick successionsuccession and and still no news came.still no news came.

More to learnMore to learnMore to learnMore to learn


ExamplesExamples

• When the duke dies, his eldest son will When the duke dies, his eldest son will succeedsucceed him on him on the throne.the throne.

• Lord Davis Lord Davis succeededsucceeded Sir Hugh as chairman of the Sir Hugh as chairman of the commission.commission.

SucceedSucceed v.

— — be the next to take a position or rankbe the next to take a position or rank

Successor n.

— — person or thing that comes after and takes the place of person or thing that comes after and takes the place of (sb./ sth.)(sb./ sth.)

ExamplesExamples

• Prince Martin, the first son of the king, is the only Prince Martin, the first son of the king, is the only successorsuccessor on the throne. on the throne.

• He will never tell you who the headmaster’s successor will be.

treasuretreasure

— — value (sth.) highlyvalue (sth.) highly

ExamplesExamples

• I I treasuretreasure the friendship between us. the friendship between us.

• From his reaction to your letter, I can tell he From his reaction to your letter, I can tell he treasures treasures your friendship.your friendship.

identityidentity

— — who or what sb./sth. iswho or what sb./sth. is

ExamplesExamples

• The The identityidentity of the murdered woman has not yet been of the murdered woman has not yet been established.established.

• The check will be cashed on proof of The check will be cashed on proof of identityidentity..

clingcling v. v.

— — hold on tightly to sb/sthhold on tightly to sb/sth

ExamplesExamples

• After 30 minutes’ walking in the heavy rain, his wet After 30 minutes’ walking in the heavy rain, his wet shirt shirt clung clung to his body.to his body.

• They They clingcling to one another for comfort. to one another for comfort.


cling to:cling to: v. v.

— — be unwilling to abandon sth; refuse to give up sthbe unwilling to abandon sth; refuse to give up sth

ExamplesExamples

• They They clung toclung to the belief that her son is alive. the belief that her son is alive.

• She clung to the hope that she could pass the exam.

conflictconflict n.n.

— — 1)1) strugglestruggle

ExampleExample

• There is a serious dispute, which could lead to armed There is a serious dispute, which could lead to armed conflictconflict..

— — 2) serious disagreement

ExampleExample

• The two parties have been in The two parties have been in conflictconflict since the since the election.election.

• The governor’s refusal to apply the law brought him The governor’s refusal to apply the law brought him into into conflictconflict with the federal government. with the federal government.

gracefulgraceful

— — 1) pleasing in both style and attitude1) pleasing in both style and attitude

ExamplesExamples

• The audience were deeply attracted by her The audience were deeply attracted by her graceful graceful dancing.dancing.

— — 2) polite and considerate

ExamplesExamples

• A graceful apology may change the present unfriendly A graceful apology may change the present unfriendly atmosphere between them.atmosphere between them.

processprocess n.n.

— — series of actions or operations performed in order to series of actions or operations performed in order to do, make or achieve sth.do, make or achieve sth.

ExamplesExamples

• Reforming the education system will be a difficult Reforming the education system will be a difficult processprocess..

• Coal was formed out of dead forests by a long slow Coal was formed out of dead forests by a long slow processprocess of chemical change. of chemical change.

courageouscourageous adj. adj.

— — bravebrave；； fearlessfearless

ExamplesExamples

• It was It was courageouscourageous of her to oppose her boss. of her to oppose her boss.

• He was known as a He was known as a courageouscourageous person. person.

outlookoutlook nn. .

— — 1) person’s way of looking at life1) person’s way of looking at life

ExamplesExamples

• Living in such an unhappy family, he has formed a Living in such an unhappy family, he has formed a very strange very strange outlookoutlook on life. on life.

• What he needs most is a tolerant, forgiving What he needs most is a tolerant, forgiving outlookoutlook on on life.life.


outlookoutlook n. n.

— — 2) view on which one looks out2) view on which one looks out

ExamplesExamples

• The house has a pleasant The house has a pleasant outlookoutlook over the valley. over the valley.

— — 3) what seems likely to happen; future prospects

ExamplesExamples

• According to the forecast, the weather outlook for the weekend is bad.

fragilefragile

— — 1) easily damaged or broken1) easily damaged or broken

ExamplesExamples

• We’d better keep a distance between us or we may We’d better keep a distance between us or we may break the already break the already fragilefragile relationship between us. relationship between us.

• No matter how eagerly pursued, human happiness is No matter how eagerly pursued, human happiness is fragilefragile..


fragilefragile

— — 2) having a small thin body or weak in health

ExamplesExamples

• The old lady was very The old lady was very fragilefragile after her operation. after her operation.

turn overturn over a.a.

— — 1) give the control or management of sth to sb1) give the control or management of sth to sb

ExamplesExamples

• The confidential report has been The confidential report has been turned overturned over to the to the President.President.

• They They turnedturned the wanted man the wanted man overover to the authorities. to the authorities.


—— 2) think about carefully; consider in various ways2) think about carefully; consider in various ways

ExampleExample

• She She turnedturned the problem the problem overover in his mind. in his mind.

—— 3) (cause sb/sth to) face in another direction by rolling3) (cause sb/sth to) face in another direction by rolling

ExampleExample

• Though it was very noisy outside, she turned over and went to sleep.

in the saddlein the saddle

— — on horseback; in a position of controlon horseback; in a position of control

ExamplesExamples

• The director hopes to remain The director hopes to remain in the saddlein the saddle..

imposeimpose

— — 1) force sb to accept

ExamplesExamples

• The magistrate imposed a fine of $500.

• The company has imposed very strict conditions on the registrations of clerks.


ImposeImpose— — 2) to establish (an additional payment) officially

ExamplesExamples

• A new tax has been imposed on wines and spirits in the United States.

hang onhang on

— — 1) grip sth firmly

ExamplesExamples

• Hang on to the strap; the bus is about to start.


hang onhang on

— — 2) to continue waiting

ExamplesExamples

• Hang on a minute, I’m coming!

• I’m afraid the line is engaged, would you like to hang on?

— — 3) to continue in spite of difficulties

ExamplesExamples

• I know you’re tired, but try to hang on a bit longer.

indispensableindispensable

— — absolutely essentialabsolutely essential

ExamplesExamples

• After years of hard work, she has become quite indispensable to the company.

• A telephone is an indispensable piece of equipment for any office.

at stakeat stake

— — to be won or lost

ExamplesExamples

• This decision, made by the inexperienced manager, has put our company at stake.

• If we lose the contract, hundreds of jobs are at stake.

worshipworship

— — 1) strong usu. religious feelings of love, respect and admiration

ExamplesExamples

• Seeing the coming of the Queen, they bowed their Seeing the coming of the Queen, they bowed their heads in heads in worshipworship..

— — 2) 2) feel love and admiration for (sb/sth) to such an extent that one cannot see his/its faults

ExamplesExamples

• She She worshipedworshiped him so much that she refused to listen him so much that she refused to listen to his critics.to his critics.

talenttalent

— — 1) (instance of) special or very great ability

ExamplesExamples

• Owing to her remarkable talent for drawing, she was Owing to her remarkable talent for drawing, she was accepted by the famous artist as a student of his.accepted by the famous artist as a student of his.


talenttalent

— — 2) people who have a talent

ExamplesExamples

• 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.

accomplishaccomplish

— — succeed in doing sth.; complete successfully

ExamplesExamples

• Lazy as she is, she’s accomplished a great deal in the last few weeks.

• Though it is necessary, I don’t feel our visit really accomplished anything.


Accomplishment

— — successful completion； thing achieved

ExamplesExamples

• Being able to play the piano well is one of his many accomplishments.

managementmanagement

— — 1) control and organization (of a business, etc)

ExamplesExamples

• The company’s failure was mainly due to bad management.

• I will take the management course in this university.


managementmanagement

— — 2) the people in charge of a company, industry, etc.

ExamplesExamples

• After a two-week strike, the workers decided to have talks with the management.

• The union has agreed to talk with the senior management.

The inability to “let go” is even more difficult for The inability to “let go” is even more difficult for those who founded their business at a time of those who founded their business at a time of unemployment or family poverty:unemployment or family poverty:

““Let go” here means to follow the law of nature, to Let go” here means to follow the law of nature, to accept reality. The sentence means that those who accept reality. The sentence means that those who have experienced unemployment or poverty would have experienced unemployment or poverty would find more difficult to accept the idea of retirement find more difficult to accept the idea of retirement from their position and their subsequent loss of power.from their position and their subsequent loss of power.

ParaphraseParaphrase

If we open a quarrel between the past and the If we open a quarrel between the past and the present, we shall find that we have lost the future.present, we shall find that we have lost the future.

This famous quotation first appeared in Winston This famous quotation first appeared in Winston Churchill’s speech to the House of Commons -- “Their Churchill’s speech to the House of Commons -- “Their finest hour” on June 18, 1940. At that time, the Germany finest hour” on June 18, 1940. At that time, the Germany Armies broke the French front, and the French troops and Armies broke the French front, and the French troops and the British Expeditionary Force were forced to withdraw at the British Expeditionary Force were forced to withdraw at Dunkirk with great loss. To call for more support of the Dunkirk with great loss. To call for more support of the House of Commons to send the British army to the front House of Commons to send the British army to the front to fight against the enemy, Churchill warned that if they to fight against the enemy, Churchill warned that if they continued to hesitate about the necessity of it, the continued to hesitate about the necessity of it, the country might lose the future.country might lose the future.


For them, the glass is half full, not half empty:For them, the glass is half full, not half empty:

““Half full” and “half empty” are two kinds of outlook Half full” and “half empty” are two kinds of outlook of the world. of the world. ““The glass is half full” means there is still hope, and The glass is half full” means there is still hope, and the world is coming a better, richer place. It is the world is coming a better, richer place. It is optimistic. “The glass is half empty” means we have optimistic. “The glass is half empty” means we have lost half of what we have, and the world is coming to lost half of what we have, and the world is coming to an end. It is pessimistic.an end. It is pessimistic.


I wasn't hanging on because I was indispensable I wasn't hanging on because I was indispensable to the business but because the business was to the business but because the business was indispensable to me.indispensable to me.

I held on to the business firmly not because the I held on to the business firmly not because the business could not go on without me but because I business could not go on without me but because I could not live without the business.could not live without the business.

Words to learn:Words to learn:

hang on indispensableindispensable


Perhaps that is the reason management authority PPerhaps that is the reason management authority Peter Drucker refers to succession planning as a leaeter Drucker refers to succession planning as a leade’s “final test of greatness.”de’s “final test of greatness.”

This is the probable reason that Peter Drucker, the This is the probable reason that Peter Drucker, the management authority, says that succession planning management authority, says that succession planning is the last test of greatness retiring business founders is the last test of greatness retiring business founders and bosses are facing.and bosses are facing.

Words to learn:

management


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

1.1. Where do you think the old people’s pensions mainly Where do you think the old people’s pensions mainly come from?come from?

It mainly comes from the taxes paid by the people It mainly comes from the taxes paid by the people who work.who work.


2.2. What would happen to pensions if we had fewer people in What would happen to pensions if we had fewer people in the next generation?the next generation?

It would make it more difficulties for the next It would make it more difficulties for the next generation to provide pension for the old.generation to provide pension for the old.


3.3. What should we do now to maintain our standard of What should we do now to maintain our standard of living after retirement?living after retirement?

We should save money for our future when we are We should save money for our future when we are retired, and the retiring pension system is a kind of retired, and the retiring pension system is a kind of social savings for this.social savings for this.


Try to find implied main idea of the passage.Try to find implied main idea of the passage.

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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, he’ll receive monthly checks from his company’s pension plan and Social Security1. He’ll also receive income from

But the way Buras sees it, when retirement rolls around for her husband, a 35-year-old manager at a Houston computer consulting company, there’s just going to be the money they’ve been socking away in their 401(k)s every month and whatever other personal savings they’ve scraped together by then.

his company’s 401(k) retirement plan and from his own investments.

“A pension? I don’t think so. Social Security? That’s

anybody’s guess,” says 32-year-old Buras, a stay-at-home mom. “I

guess we’re on our own.”

She’s 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 that’s expensive both for the government and for

employers who are anxious to cut costs.

Unfortunately, a lot of future retirees haven’t been paying

attention — or they haven't started doing anything about it.

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.

The Depression had a profound effect on that generation.

“

When it comes to the future, many people today have this bulletproof mentality,” says Booker. “That’s scary.”

Financial planners say what today’s workers need to

understand — what they may know intellectually but what hasn’t truly sunk in yet — is that they can’t count on

anyone but themselves to pay for their retirement.

The most obvious reason is that Social Security, which averages $745 a month for today’s retirees and accounts for 42 percent of their income, may not be there for all of tomorrow's retirees.

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 today’s retirees. When it’s time for today’s

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 isn’t churning out as many workers as it used to.

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 today’s 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.

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 aren’t as rich as they used to be.

On the flip side, employees aren’t 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.

“Life is moving so fast, with the modern couple spending so much of their time on work and raising their children, that they often don’t look up until they’re 50. By then it can be too late,” says Booker.

It’s a point that is not lost on Ken Buras.

“We’re cognizant of what we need to be doing, but I don’t think we’ve 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.

For the Burases, the big worry is saving enough money to put their 6-year-old child through college someday.

“We’re more still looking 10 years ahead instead of 30 years ahead,” says Elizabeth Buras. “I know that's not good, but that’s the way we think.”

White, a financial planner, says she has these simple words of advice for clients who don’t take the long view: “If you don’t send anything ahead, you won’t have anything when you get there.”

(826 words)

monthlymonthly adj. adj.

— — 1)1) done, happening once a moth or every monthdone, happening once a moth or every month

ExampleExample

• The The monthlymonthly meeting of the company will be cancelled meeting of the company will be cancelled because of the accident.because of the accident.

—— 2) payable, valid or calculated for one month2) payable, valid or calculated for one month

ExampleExample

• He gets a monthly income of $8 000, which makes him lead a comfortable life in the small countryside.

invest invest v.v.

— — use (money) to buy shares, property, etc., in order to use (money) to buy shares, property, etc., in order to earn interest or bring profitearn interest or bring profit

ExampleExample

• Your bank manager has the duty to advise you where Your bank manager has the duty to advise you where to to investinvest your money. your money.

• He invested one million dollars in an oil company last year, which made him a big profit.


investmentinvestment

— — investing of moneyinvesting of money

ExampleExample

• He sold off all his investments in South America because he desperately needed money for his children’s education.

• The government is trying to attract more investment into the shipbuilding industry.

scrape togetherscrape together

— — gather (a total, esp. of money) with difficulty by gather (a total, esp. of money) with difficulty by putting small amounts togetherputting small amounts together

ExamplesExamples

• If we want to rent a big apartment in the capital city, If we want to rent a big apartment in the capital city, we must we must scrape togetherscrape together enough to pay the deposit. enough to pay the deposit.

• With the help of this advertisement company, we With the help of this advertisement company, we scraped togetherscraped together an audience of fifty thousand for the an audience of fifty thousand for the play.play.

certifycertify v.v.

— — to declare that (sth) is correct or true, esp. after some to declare that (sth) is correct or true, esp. after some kind of testkind of test

ExamplesExamples

• I I certifycertify that I witnessed the signing of this document. that I witnessed the signing of this document.

• The doctor agreed toThe doctor agreed to certify certify that the prisoner is that the prisoner is insane, though he doesn’t like him.insane, though he doesn’t like him.


certified certified

— — being officially declaredbeing officially declared

ExamplesExamples

• Since it is a very important case, I will send it to you Since it is a very important case, I will send it to you by by certifiedcertified mail. mail.

sink insink in

— — 1) of words, etc be fully understood1) of words, etc be fully understood

ExampleExample

• The news was such a shock; it still hasn’t really sunk in yet.

• The scale of the tragedy gradually sank in.


sink insink in

— — 2) enter a solid through the surface2) enter a solid through the surface

ExampleExample

• If the ink If the ink sinks insinks in it’ll be hard to remove the mark it’ll be hard to remove the mark from the cloth.from the cloth.

count oncount on

— — 1) rely on sb./sth. with confidence1) rely on sb./sth. with confidence

ExamplesExamples

• Whenever we need help, she can always be Whenever we need help, she can always be counted oncounted on for support.for support.

• According to the weather forecast, you can’t According to the weather forecast, you can’t account account onon the weather being fine tomorrow. the weather being fine tomorrow.


count oncount on

— — 2) expect; take into account

ExamplesExamples

• From his reaction to your requirement, I am sure that From his reaction to your requirement, I am sure that you can’t you can’t count oncount on John arriving so early. John arriving so early.

account foraccount for

— — be the explanation of sth..be the explanation of sth..

ExamplesExamples

• The defendant couldn’t The defendant couldn’t account foraccount for the fact that the the fact that the money was found in his house.money was found in his house.

• How do you How do you account foraccount for losing five games in such a losing five games in such a short period of time?short period of time?

churn sth outchurn sth out

— — produce sth (usu. of bad quality) in large qualityproduce sth (usu. of bad quality) in large quality

ExampleExample

• She has She has churned outchurned out 15 romantic stories in recent 15 romantic stories in recent years, though she has never been in love.years, though she has never been in love.

• Without any experiments or practice, how can you Without any experiments or practice, how can you churn outchurn out so many papers? so many papers?

flipflip

— — 1) quick light blow or movement, esp. one that tosses 1) quick light blow or movement, esp. one that tosses sth.sth.

ExamplesExamples

• They They flippedflipped a coin to decide who would go first. a coin to decide who would go first.


2) become very angry, excited or enthusiastic2) become very angry, excited or enthusiastic

ExamplesExamples

• My mother really My mother really flippedflipped when I told her I was going when I told her I was going married.married.

flip sideflip side

— — side of record, the side that does not have the main side of record, the side that does not have the main song on it.song on it.

on the flip sideon the flip side

——on the other handon the other hand

ExampleExample

• It is not really a good idea to retire so early, but It is not really a good idea to retire so early, but on the on the flip sideflip side, you may have more spare time to enjoy the , you may have more spare time to enjoy the life.life.

lay sb. offlay sb. off

— — 1) dismiss (workers), usu for a short time1) dismiss (workers), usu for a short time

ExamplesExamples

• During the recession he During the recession he laid us offlaid us off for three months, for three months, though he didn’t want to.though he didn’t want to.

• They were They were laid offlaid off because of the lack of new orders. because of the lack of new orders.


lay sb. offlay sb. off

— — 2) stop doing or using sth harmful etc

ExamplesExamples

• I’ve smoked cigarettes for years, but now I’m going to I’ve smoked cigarettes for years, but now I’m going to lay it offlay it off..

• You must You must lay offlay off alcohol for a while; otherwise you will alcohol for a while; otherwise you will get a stomach cancer.get a stomach cancer.

aggressiveaggressive

— — 1) offensive1) offensive

ExampleExample

• This country is regarded as an This country is regarded as an aggressiveaggressive nation which nation which threatens world peace.threatens world peace.

—— 2) forceful

ExampleExample

• A good salesman must be A good salesman must be aggressiveaggressive if he wants to if he wants to succeed in the market exploration.succeed in the market exploration.

maximummaximum

— — greatest amount, size, intensity, etc possible or greatest amount, size, intensity, etc possible or recordedrecorded

ExampleExample

• The living room of his new apartment holds a The living room of his new apartment holds a maximummaximum of thirty people. of thirty people.

• What’s the What’s the maximummaximum amount of wine you’re allowed amount of wine you’re allowed to take through customs duty-free?to take through customs duty-free?

set asideset aside

— — save or keep (money or time) for a particular purposesave or keep (money or time) for a particular purpose

ExamplesExamples

• She decided to She decided to set asideset aside a little money each week for a little money each week for her son to study abroad.her son to study abroad.

• I have told you that I would I have told you that I would set asideset aside some time to visit some time to visit you.you.

But the way Buras sees it, when retirement rolls But the way Buras sees it, when retirement rolls around for her husband, …, there’s just going to be around for her husband, …, there’s just going to be the money they’ve been socking away in their the money they’ve been socking away in their 401(k)s every month and whatever other personal 401(k)s every month and whatever other personal savings they’ve scraped together by then.savings they’ve scraped together by then.

Buras understands that when her husband comes to Buras understands that when her husband comes to the age of retirement, …the money they can get are the age of retirement, …the money they can get are only those they paid to the 401(k)s and the savings of only those they paid to the 401(k)s and the savings of their own by then.their own by then.


scraped togetherscraped together


The Depression had a profound effect on that The Depression had a profound effect on that generation.generation.

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


……when it comes to the future, many people today when it comes to the future, many people today have this bulletproof mentalityhave this bulletproof mentality

As to the future, many people today don’t worry or As to the future, many people today don’t worry or care about it.care about it.


What they may know intellectually but what hasn’t What they may know intellectually but what hasn’t truly sunk in yet truly sunk in yet —— is that they can’t count on is that they can’t count on anyone but themselves to pay for their retirement.anyone but themselves to pay for their retirement.

The baby-boomers intellectually know but haven’t yet The baby-boomers intellectually know but haven’t yet completely accepted the fact that they cannot depend completely accepted the fact that they cannot depend on anyone else but themselves for their retirement.on anyone else but themselves for their retirement.


sunk insunk in count on


……and the United States isn’t churning out as many and the United States isn’t churning out as many workers as it used to.workers as it used to.

……there are not enough workers to support the retirees there are not enough workers to support the retirees as there used to be in the United States.as there used to be in the United States.


churning outchurning out


……, with the modern couple spending so much of , with the modern couple spending so much of their time with work and raising their children, that their time with work and raising their children, that they often don’t look up until they’re 50.they often don’t look up until they’re 50.

The modern couple devote themselves to their work The modern couple devote themselves to their work and family so greatly that they even don’t realize the and family so greatly that they even don’t realize the severe situation they may face after retirement until severe situation they may face after retirement until they are 50 years old.they are 50 years old.


If you don’t send anything ahead, you won’t have If you don’t send anything ahead, you won’t have anything when you get there.anything when you get there.

If you don’t make any preparation for your future life, If you don’t make any preparation for your future life, you may find that you have nothing to depend on when you may find that you have nothing to depend on when it is time for you to retire.it is time for you to retire.


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