People Can't Afford to Retire... Millions Are Doing It Anyway
Many people are retiring earlier than planned, often due to job loss or a desire to enjoy life while still healthy, even if they haven't saved enough. This trend, combined with a record number of people turning 65, is creating a challenge because many retirees have limited savings and will rely heavily on Social Security. Companies are often reluctant to hire older workers, pushing many into unplanned retirement. This situation means that a growing number of older people might need financial and care support from their adult children, which can create financial difficulties for the younger generation, impacting their own ability to save for retirement. The overall message is that individuals should plan carefully for their own retirement, as traditional support systems may not be enough.
Key Vocabulary
The act of temporarily or permanently dismissing employees from their jobs, often due to economic conditions or a lack of work, rather than for performance-related issues.
Examples:
- The recent economic downturn led to widespread layoffs across several industries.
- After the merger, many employees feared potential layoffs as the company restructured.
- She was informed about the layoffs through an email on a Friday afternoon.
A point of transition or a moment of change, often indicating that something is about to happen.
Examples:
- The city is on the cusp of a major technological transformation.
- He's on the cusp of a breakthrough in his research.
- Many students are on the cusp of adulthood as they prepare for college.
On the edge between two states or conditions; almost but not quite reaching a certain quality or status.
Examples:
- His behavior was borderline disrespectful, though he never outright insulted anyone.
- The weather forecast indicated borderline freezing temperatures for the night.
- Her test score was borderline, meaning she barely passed the exam.
A specific segment of a population, often categorized by age, income, education, or other characteristics, used for statistical analysis.
Examples:
- The new product is designed to appeal to a younger demographic.
- Marketing campaigns often target a particular demographic to maximize their impact.
- The study analyzed the voting patterns of various demographic groups.
In a way that is specific to a particular person, place, or thing; distinctively or exceptionally.
Examples:
- The artist developed a style that was uniquely his own.
- This architectural design uniquely blends traditional elements with modern aesthetics.
- The problem presented a uniquely complex challenge that required innovative solutions.
Overrun or swarming with something undesirable, often implying a large number of pests or a pervasive negative influence.
Examples:
- The old cabin was infested with termites, making it unsafe.
- The garden became infested with weeds after a few weeks of neglect.
- The abandoned building was infested with rodents and insects.
Becoming progressively worse; declining in quality, condition, or value.
Examples:
- The old bridge was deteriorating rapidly and needed urgent repairs.
- His health had been steadily deteriorating over the past few months.
- The economic situation in the region is deteriorating due to ongoing instability.
To be located at the side of something or someone, often implying a position of support or protection.
Examples:
- The main building was flanked by two smaller wings.
- Security guards flanked the dignitary as he entered the hall.
- Tall trees flanked the winding path, creating a natural tunnel.
Long existence or service; the characteristic of living a long life or lasting for a long time.
Examples:
- The company's longevity is a testament to its adaptive business model.
- Regular exercise and a healthy diet are often linked to increased human longevity.
- The ancient monument's longevity is remarkable, having withstood centuries of weather.
Involving or affecting several generations.
Examples:
- The family reunion fostered strong intergenerational bonds.
- The program promoted intergenerational learning by pairing seniors with young students.
- Many social issues require intergenerational solutions to be truly effective.
The state of being no longer needed or useful, often referring to an employee being dismissed because their job is no longer required.
Examples:
- After the company automated several processes, many roles faced redundancy.
- The project manager aimed to eliminate redundancy in the workflow to improve efficiency.
- She received a redundancy package when her department was dissolved.
A shortened form of 'alumni' or 'alumnae', referring to former students of a school, college, or university.
Examples:
- The university's alums often contribute generously to new campus initiatives.
- Many successful entrepreneurs are alums of this business school.
- The annual alums gathering is a popular event for networking and reminiscing.
To select, organize, and present information, content, or items, often with expertise and taste.
Examples:
- The museum curator spent years curating the new exhibition.
- She curates her social media feed to reflect her artistic interests.
- The online platform allows users to curate their own playlists from a vast music library.
To support or hold something up, often with an object or by providing assistance.
Examples:
- He used a stack of books to prop open the window.
- The old fence needed a strong timber to prop it up.
- The team's strong defense helped to prop up their otherwise struggling offense.
Next to the last in a series or sequence.
Examples:
- The penultimate chapter of the novel built intense suspense.
- She won the penultimate race of the season, securing her championship title.
- The speaker delivered his penultimate point before concluding his presentation.
Requiring little or no effort; appearing easy and natural.
Examples:
- Her performance was so graceful it seemed effortless.
- He has an effortless charm that makes everyone feel comfortable.
- The new software makes data entry feel almost effortless.
To gather or collect something with difficulty, often implying a struggle to obtain just enough.
Examples:
- They were scraping by on a very tight budget.
- She managed to scrape together enough money for the train ticket.
- The small business was scraping for every new client they could find.
Highly praised and admired; publicly acknowledged for excellence.
Examples:
- The acclaimed director's latest film received rave reviews.
- She is an acclaimed scientist known for her groundbreaking research.
- The restaurant is acclaimed for its innovative cuisine and elegant ambiance.
A shortened form of 'restaurateur', referring to a person who owns or manages a restaurant.
Examples:
- The renowned restaurateur opened a new bistro in the city center.
- As a successful restaurateur, he understood the importance of customer service.
- The young chef aspired to become a leading restaurateur in the fine dining scene.
A small, lightweight vehicle, often used for specific purposes like golf or recreation, and typically open-aired.
Examples:
- We rented a golf buggy to navigate the expansive course.
- The family enjoyed a ride in the dune buggy along the beach.
- The resort offered electric buggies for guests to get around the property.