单选题
How far away you are from retirement plays a large part in how you should invest your retirement money. According to Leslie Wright of Westminster Portfolio Services Ltd., there are three stages to a long-term regular savings plan for retirement: capitalization, consolidation and conservation. In the first stage, people should be most concerned with building up their retirement savings investment. According to Wright, these investors can "take as aggressive an outlook as their nerves can stand," because at this point there is little capital to risk. The second step, consolidation, makes up the bulk of your savings plan; balance the aggressive investments with some tamer ones, to better protect your existing possessions. The final change, from consolidation to conservation, when your investments should aim to preserve the capital you have, should take place one to three years before you retire. The exact timing of all these should take current market conditions into account, although Wright warns against risky betting on future growth. "Greed must not be allowed to blind prudence," he says.
Whatever vehicles you choose for your retirement share-holding, be sure to take advantage of dollar-cost averaging. By investing a fixed amount at regular intervals, you"ll be able to avoid the risk of poorly timed investments by averaging out the peaks and valleys of the market. Plus, regular contributions will let you avoid the temptation to drop out when the market falls, and to buy too much when prices are high.
Those who are well along the road to retirement may have cause for concern these days. The plunging stock and property markets have shrunk savings, for retirement and otherwise; and some people have not planned for their retirement at all.
You won"t be that rash, of course, but what if you"re already in mid-career and don"t have a retirement plan in place? If you don"t make some serious cuts in your spending and save heavily now, you"ll have to sacrifice
in your golden years.
Of course, it"s better still to get off on the right foot by starting your planning early. "No one should have to compromise his living standards when he retires," says Wright. "Retirement is a time to really enjoy life. We have all worked so hard." And one of the things you should be working hard on fight now is planning for those days of enjoyment.
单选题
In the first stage of saving for retirement, people can take an aggressive investment strategy because
【正确答案】
C
【答案解析】[解析] 该题为细节题。由第一段第四句“According to Wright, these investors can "take as aggressive an outlook as their nerves can stand," because at this point there is little capital to risk.”可知，怀特建议投资者可以“采取他们心理能够承受的激进的态度，”因为在这一阶段，几乎没有资金风险，也就是说，长期投资不存在风险，故选C。
单选题
To avoid the risk of poorly timed investments, one should
【正确答案】
B
【答案解析】[解析] 该题为细节题。由第二段第1～2句“Whatever vehicles you choose...be sure to take advantage of dollar-cost averaging... you"ll be able to avoid the risk of poorly timed investments by averaging out the peaks and valleys of the market.”可知，成本平均策略通过每隔固定的时间间隔投资固定的数量，能够在市场的高峰和低谷中达到平衡，避免时机不佳的投资，故选B。
单选题
What does the phrase "in your golden years" (Line 3, Paragraph 4) mean?
【正确答案】
D
【答案解析】[解析] 该题为推理题。全文提倡人们在职业生涯时期为退休时期做好储蓄和投资计划，由最后一句“And one of the things you should be working hard on right now is planning for those days of enjoyment.”可知，现在应该为退休阶段享受生活的时光做好准备，因此，如果现在不做准备，就无异于牺牲了享受生活的时期，即晚年，故选D。