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13 Apr 2022, 07:30
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Question 1
D
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
45%
(medium)
Question Stats:
58% (02:18) correct
42%
(02:11) wrong
based on 231
sessions
History
Date
Time
Result
Not Attempted Yet
Question 2
C
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
5%
(low)
Question Stats:
96% (00:26) correct 4%
(00:55) wrong
based on 214
sessions
History
Date
Time
Result
Not Attempted Yet
Question 3
B
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
5%
(low)
Question Stats:
83% (00:37) correct 17%
(00:56) wrong
based on 218
sessions
History
Date
Time
Result
Not Attempted Yet
Question 4
A
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
15%
(low)
Question Stats:
79% (00:53) correct 21%
(01:09) wrong
based on 216
sessions
History
Date
Time
Result
Not Attempted Yet
For many years, there has been much hand-wringing over the fate of Social Security once the baby boomers reach retirement age. Baby boomers, people born between 1946 and 1964, represent the largest single sustained growth of population in the history of the United States. It is the sheer enormity of this generation that has had economists worried as retirement beckons. According to the U.S. Census Bureau, by 2020, an estimated 80,000,000 Americans will have reached or surpassed the conventional age of retirement. With so many boomers retiring and drawing benefits but no longer paying into Social Security, many fear that the Social Security fund itself could go bankrupt.
However, a study released by the American Association for Retired Persons (AARP) that examined baby boomers’ plans for retirement found that for the most part, this generation is not expected to adhere to the conventional retirement scheme, a fact that may please the worriers in Washington, DC.
In its survey, the AARP broke baby boomers into different categories based on their financial standing, degree of preparedness for retirement, and optimism toward the future. The AARP found that of all groups surveyed, only 13% planned to stop working altogether once they reached retirement age; the remaining 87% planned to continue working for pay. The reasons to continue working varied among the different groups. For some, the plan to continue working is a financial decision. Between 25% and 44% of respondents reported they are not financially prepared to retire and will therefore continue working past retirement age. For the remainder of those planning to work past their mid to late 60s, the decision is based on long-held goals to start a business and/or the desire to stay active in their industry or community.
Eventually, most baby boomers will need to stop working as they progress into their 70s, 80s, and beyond. But with such large numbers planning to continue working, thereby continuing to pay into the Social Security fund, perhaps Social Security will be able to withstand the end of the baby boom and continue to be a safety net for future generations.
However, a study released by the American Association for Retired Persons (AARP) that examined baby boomers’ plans for retirement found that for the most part, this generation is not expected to adhere to the conventional retirement scheme, a fact that may please the worriers in Washington, DC.
In its survey, the AARP broke baby boomers into different categories based on their financial standing, degree of preparedness for retirement, and optimism toward the future. The AARP found that of all groups surveyed, only 13% planned to stop working altogether once they reached retirement age; the remaining 87% planned to continue working for pay. The reasons to continue working varied among the different groups. For some, the plan to continue working is a financial decision. Between 25% and 44% of respondents reported they are not financially prepared to retire and will therefore continue working past retirement age. For the remainder of those planning to work past their mid to late 60s, the decision is based on long-held goals to start a business and/or the desire to stay active in their industry or community.
Eventually, most baby boomers will need to stop working as they progress into their 70s, 80s, and beyond. But with such large numbers planning to continue working, thereby continuing to pay into the Social Security fund, perhaps Social Security will be able to withstand the end of the baby boom and continue to be a safety net for future generations.
1. Which of the following titles would be most appropriate for this passage?
a. The AARP and Social Security
b. Baby Boomers Bankrupt Social Security
c. Baby Boomers Will Work for Pay Beyond Retirement
d. Worries about Social Security May Be Unfounded
e. Economists Fear Baby Boomers’ Impact on Social Security
a. The AARP and Social Security
b. Baby Boomers Bankrupt Social Security
c. Baby Boomers Will Work for Pay Beyond Retirement
d. Worries about Social Security May Be Unfounded
e. Economists Fear Baby Boomers’ Impact on Social Security
2. According to the author, baby boomers are not likely to bankrupt the Social Security fund primarily because
a. the government has raised the official age for retirement.
b. most baby boomers are financially prepared for retirement.
c. most baby boomers plan to work past retirement age.
d. most baby boomers are active in their communities.
e. most baby boomers will not need supplemental income.
a. the government has raised the official age for retirement.
b. most baby boomers are financially prepared for retirement.
c. most baby boomers plan to work past retirement age.
d. most baby boomers are active in their communities.
e. most baby boomers will not need supplemental income.
3. The author cites statistics from the AARP survey primarily to
a. support the assertion that baby boomers are the largest group of retirees in U.S. history.
b. show that baby boomers will not retire en masse as feared.
c. suggest that better financial planning is needed for the elderly.
d. show how optimistic baby boomers are about their future.
e. show the correlation between retirement age and optimism.
a. support the assertion that baby boomers are the largest group of retirees in U.S. history.
b. show that baby boomers will not retire en masse as feared.
c. suggest that better financial planning is needed for the elderly.
d. show how optimistic baby boomers are about their future.
e. show the correlation between retirement age and optimism.
4. It can be inferred from the AARP survey results that
a. many baby boomers do not have adequate savings.
b. many baby boomers are afraid of retirement.
c. most baby boomers are unaware of the actual cost of retirement.
d. few baby boomers are realistic about their retirement goals.
e. politicians do not understand the baby boom generation.
a. many baby boomers do not have adequate savings.
b. many baby boomers are afraid of retirement.
c. most baby boomers are unaware of the actual cost of retirement.
d. few baby boomers are realistic about their retirement goals.
e. politicians do not understand the baby boom generation.
RC Butler 2022 - Practice Two RC Passages Everyday.
Passage # 150 Date: 13-Apr-2022
This question is a part of RC Butler 2022. Click here for Details
Passage # 150 Date: 13-Apr-2022
This question is a part of RC Butler 2022. Click here for Details
Source: Learning Express
thelastskybender
Joined: 26 Dec 2022
Last visit: 10 Feb 2026
Posts: 128
Given Kudos: 50
Location: India
Schools: IIMA '25 (II) INSEAD Aug'24 intake
GMAT 1: 710 Q50 V36
15 May 2023, 00:57
Kudos
Bookmarks
1. Which of the following titles would be most appropriate for this passage?
a. The AARP and Social Security [ Equating AARP with SS, both don't play the the role of same importance in the passage.]
b. Baby Boomers Bankrupt Social Security [ Against our conclusion]
c. Baby Boomers Will Work for Pay Beyond Retirement [ Passage is not just about BB but also about their impact on SS]
d. Worries about Social Security May Be Unfounded [ kInd of what we were looking for]
e. Economists Fear Baby Boomers’ Impact on Social Security [ very small part & against the conclusion]
2. According to the author, baby boomers are not likely to bankrupt the Social Security fund primarily because
a. the government has raised the official age for retirement.
b. most baby boomers are financially prepared for retirement.
c. most baby boomers plan to work past retirement age. [ mentioned in 4th para]
d. most baby boomers are active in their communities.
e. most baby boomers will not need supplemental income.
3. The author cites statistics from the AARP survey primarily to
a. support the assertion that baby boomers are the largest group of retirees in U.S. history.
b. show that baby boomers will not retire en masse as feared. [ mentioned in 3rd para : "The AARP found that of all groups surveyed, only 13% planned to stop working altogether once they reached retirement age; the remaining 87% planned to continue working for pay."]
c. suggest that better financial planning is needed for the elderly.
d. show how optimistic baby boomers are about their future.
e. show the correlation between retirement age and optimism.
4. It can be inferred from the AARP survey results that
a. many baby boomers do not have adequate savings. [ mentioned in 3rd para: "For some, the plan to continue working is a financial decision. Between 25% and 44% of respondents reported they are not financially prepared to retire" ]
b. many baby boomers are afraid of retirement.
c. most baby boomers are unaware of the actual cost of retirement.
d. few baby boomers are realistic about their retirement goals.
e. politicians do not understand the baby boom generation.
a. The AARP and Social Security [ Equating AARP with SS, both don't play the the role of same importance in the passage.]
b. Baby Boomers Bankrupt Social Security [ Against our conclusion]
c. Baby Boomers Will Work for Pay Beyond Retirement [ Passage is not just about BB but also about their impact on SS]
d. Worries about Social Security May Be Unfounded [ kInd of what we were looking for]
e. Economists Fear Baby Boomers’ Impact on Social Security [ very small part & against the conclusion]
2. According to the author, baby boomers are not likely to bankrupt the Social Security fund primarily because
a. the government has raised the official age for retirement.
b. most baby boomers are financially prepared for retirement.
c. most baby boomers plan to work past retirement age. [ mentioned in 4th para]
d. most baby boomers are active in their communities.
e. most baby boomers will not need supplemental income.
3. The author cites statistics from the AARP survey primarily to
a. support the assertion that baby boomers are the largest group of retirees in U.S. history.
b. show that baby boomers will not retire en masse as feared. [ mentioned in 3rd para : "The AARP found that of all groups surveyed, only 13% planned to stop working altogether once they reached retirement age; the remaining 87% planned to continue working for pay."]
c. suggest that better financial planning is needed for the elderly.
d. show how optimistic baby boomers are about their future.
e. show the correlation between retirement age and optimism.
4. It can be inferred from the AARP survey results that
a. many baby boomers do not have adequate savings. [ mentioned in 3rd para: "For some, the plan to continue working is a financial decision. Between 25% and 44% of respondents reported they are not financially prepared to retire" ]
b. many baby boomers are afraid of retirement.
c. most baby boomers are unaware of the actual cost of retirement.
d. few baby boomers are realistic about their retirement goals.
e. politicians do not understand the baby boom generation.
16 Jul 2025, 02:31
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Sajjad1994
1. d. Worries about Social Security May Be Unfounded
2. c. most baby boomers plan to work past retirement age
3. b. show that baby boomers will not retire en masse as feared
4. a. many baby boomers do not have adequate savings
