One in Four US Adults Over 50 Expect to Never Retire
Vocabulary
Repeat each word, definition, and example sentence after your tutor.
dedicate
Verb
ˈdedɪkeɪt
to devote something to a particular subject, purpose, etc.
The first chapter of the book is dedicated to exploring the early history of the Roman Empire.
make ends meet
Phrase
meɪk endz miːt
to earn just enough money to pay for the things one needs
Even with my new job, I still find it tough to make ends meet.
mortgage
Noun
ˈmɔːrgədʒ
an agreement in which a bank lends a person money to buy property which is paid back over a period of time; the amount of money lent
Many young couples struggle to save a deposit for their first mortgage.
rival
Noun
ˈraɪvəl
a person or thing competing for the same goal as another in business, sport, etc.
On Sunday night, the championship rivals will finally face each other on the track.
coordination
Noun
kəʊˌɔːrdɪˈneɪʃn
the organization of different parts, people, etc. to allow them to work well together; collaborative work
Due to lack of coordination between different teams, the project took much longer than expected.
workforce
Noun
ˈwərkfoʊrs
all of the people who work or are available for work in a country, area, business, etc.
About a quarter of the country's workforce could be affected by new tax laws for internet workers.
Article
One in Four US Adults Over 50 Expect to Never Retire
About one-quarter of US adults aged 50 and older who are not yet retired say they expect to never retire, and 70% are concerned about prices rising faster than their income, a new survey finds.
About one in four have no retirement savings, according to research released April 24 by AARP, a nonprofit organization, formerly the American Association of Retired Persons, which is dedicated to helping people who are aged over 50.
The survey shows how a graying America is worrying more and more about how to make ends meet. Everyday expenses and housing costs, including rent and mortgage payments, are the biggest reasons why people are unable to save for retirement.
The data will matter this election year as Democratic President Joe Biden and Republican rival Donald Trump are trying to win support from older Americans, who traditionally turn out in high numbers.
The AARP's study, based on interviews completed with more than 8,000 people in coordination with the NORC Center for Public Affairs Research, found that one-third of older adults with credit card debt owe more than $10,000 and 12% owe $20,000 or more. Additionally, 37% are worried about meeting basic living costs such as food and housing.
"Far too many people lack access to retirement savings options and this, coupled with higher prices, is making it increasingly hard for people to choose when to retire," said Indira Venkateswaran, AARP's senior vice president of research. "Everyday expenses continue to be the top barrier to saving more for retirement, and some older Americans say that they never expect to retire."
"We are seeing an expansion of older workers staying in the workforce," said David John, senior strategic policy advisor at the AARP Public Policy Institute. He said this is in part because older workers "don't have sufficient retirement savings. It's a problem and it's likely to continue as we go forward."
Discussion
1.
What are your thoughts on AARP's findings?
2.
Do you find it surprising that so many Americans expect to never retire?
3.
Do you know many people past retirement age who are still working?
4.
Are prices rising faster than incomes where you live?
5.
How much money do people need to retire comfortably in your country?
6,
At what age do you think you'll retire? Are you looking forward to it?
7.
If you could retire early, would you?