ESL Podcast 444 - Planning for Retirement
social security - a program of the U.S. government that gives money to working people after they reach the age of 65
Kyon started getting social security benefits when he turned 65 years old.
savings - money that one has saved for use in the future; money put into a savings account in a bank
He used some of his savings to buy a new car.
sitting pretty - in a good, comfortable position or situation, especially financially or professionally
After she sold her business for $1 million, she was sitting pretty.
retirement - the period of time when one has stopped working, usually after age
She dreams of spending her retirement living on the beach and meeting friends each morning.
401(k) - a special type of account sponsored by an employer where workers save money for retirement
For the past eight years, she has put 7% of each paycheck into her 401(k).
matching contribution - money that a company puts into an employee's 401(k) each month, equal to the amount of money that the employee puts into it each month
After you have worked here for one month, the company will start to make a matching contribution, so the more you save, the more you get.
to add up - to total; to calculate the sum; to accumulate
The cashier is adding up the cost of all the things we're buying.
IRA - individual retirement account; a special type of account where a person can save money for retirement without paying any taxes on the money until later
Larry opened an IRA when he was just 18 years old, so he'll have a lot of money when he retires.
tax-deferred - with taxes not needing to be paid until later; with taxes being paid when money is taken out of an account and not when it is put into an account
We should take advantage of tax-deferred savings opportunities because we don't have to pay any taxes on the money until we start using it in retirement.
portfolio - all of a person's investments, especially stocks and bonds
Enrique's portfolio includes a lot of stocks in energy companies.
split - divided; with more than one part or piece; not whole
She doesn't like the way her time is split between her work and her family.
stock - one share in a company; part ownership of a company that is bought and sold to make money
Jung bought stock in Sony years ago, and he has made a lot of money as a result.
bond - an agreement where a company or the government borrows money from an individual for a certain period of time and agrees to pay it back with interest on a future date
You might not make as much money with bonds as you can with stocks, but at least you can't lose any money.
long haul - long term; over a long period of time; not immediate
It was a long haul before women got the right to vote in most countries.
stashed away - hidden, safe, and secret; in a secret, safe place
Mindy stashed away the chocolate candies so that her children wouldn't find them.
nest egg - money that one plans to use in retirement; money that one has saved for retirement
When the economy started having problems, many people were sad to see that their nest egg had lost a lot of money.
to invest - to buy something with the expectation that it will increase in value so that one can sell it later and make money
They bought a home last year for $210,000 and invested about $50,000 in repairs, and now, they're trying to sell it for $295,000.
safe and sound - secure; without any danger, fear, or worry
Please call us from the airport to let us know that you've arrived safe and sound.