翻译考试历年中级口译真题(6)_第8页

Questions 21-25

Troubled by the poor performance of their investments, many people are taking steps to halt erosion of their savings and rethink their financial plans .They are not sure what to do to maximize returns in light of stock market fluctuations,   new   tax   laws,   low   interest   rates   and   skyrocketing   real   estate values. "On an emotional level, people are petrified of making a mistake and losing     more   money,"      says    financial   counselor     Denise    Hughes.      "The do-it-yourself investor of the 1990s is more comfortable now doing nothing." But doing nothing isn't better than doing something smart, especially as college, weddings       and    retirement     loom.    Here's what financial advisors are recommending to their clients:

Plan for financial aid 
    
Most  parents don't  save  nearly enough  for children's education. They assume that investing in a 529 college plan is the best place for your savings, While a 529 plan offers tax-free growth and withdrawals for college costs—and in some cases a tax deduction—colleges look at these savings when sizing up eligibility and how much they will fork over. The same scrutiny is given to funds saved in a Coverdell IRA and in an account opened in your child's name. Do save aggressively for college in a taxable account in your name if your household income is below $ 100,000. In this case, your child will likely qualify for some financial aid. Do invest in a 529 savings plan if your income is higher than $100,000 and will likely remain at or above that level when your child enters college. In this case, the 529 plan is great because you probably won't qualify for financial aid anyway.

Expect ups and downs
    
Stung by three straight years of stock market declines, many people have been shifting to lower-risk investments. But just as taking too much risk can hurt your portfolio's growth rate, so can hiding out in ultra, safe investments; paying 1% or less. 
    
Do consider investing in funds that you'll hold on to for more than a year. Under the new tax law, long-term capital gains are taxed at a maximum of 15%, down from 20%. Do look at stock funds that pay dividends. Dividends on stocks used to be taxed at your personal income tax rate, Under the new law, they are now taxed at no more than 15%. Investing in these funds will not only hold down taxes but also sustain your portfolio's value in tough times.

Forget high fees
    
Over the next ten years, achieving the kind  of double-digit returns we experienced   over   the   past   20   years   will   be   much   harder,   predicts   Harold Evensky, a certified financial planner. "In the 1990s, the average rate of return for a portfolio allocated 60% to stocks and 40% to bonds was 13.2% after taxes and transaction expenses." Over the coming decade, this rate is expected to be closer to 5.5% as the 50-year historical average returns to the neighborhood of 8%. Don't pay unnecessarily high investment costs and fees. For example, if you can save half a percentage point on your fund expense ratio (the fee that funds charge you each year to manage your money), your average investment return could be 6% instead of 5%, he says.

Feather your nest egg
    
Do estimate how much cash you'll need each year to sustain your standard of living when you reach retirement and withdraw from your IRA and your other retirement accounts. With this yearly sum in mind, calculate how big your nest egg has to be to produce that income stream, assuming that your portfolio's value earns a conservative 5% to 6% a year.

21.Which of the following is NOT true about the investors of the 1990s？
     (A) They might need professional help.
     (B) They live a comfortable life now with nothing to do.
     (C) They are afraid of making wrong decisions and losing money.
     (D) They are trying to protect what they make and save rather than taking risks.
22.According to the passage, a 529 savings account ______.
     (A) is the best choice for low-income families
     (B) offers tax-free growth and withdrawals
     (C) works best for those who are not qualified for financial aid
     (D) should start in your child's name
23.According to the expert, which of the following can help your portfolio's  return rate to grow?
     (A) Allocating 40% of your portfolio to stocks and 60% to bonds.
     (B) Hiding out in ultra-safe investments paying 1% or less.
     (C) Investing long term in funds that pay dividends.
     (D) Making high-risk and high-return investments.
24.On   average, according to the experts, how much can you expect of an investment return in the near future? 
     (A) Below 1%.                          (B) About 6%.
     (C) Above 8%.                          (D) Close to 13.2%.
25.What does IRA most probably refer to?
     (A) Investment Return Aid.              (B) Individual Retirement Account.
     (C) Individual Refund Amount.           (D) Investment and Retirement Aid.