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Most people alive today will never be able to retire. Almost half of all Americans report having no dedicated retirement accounts at all.
如今，大多数人永远无法退休。几乎一半的美国人没有专门的退休账户。
And rising living costs means that millennials will need more than a million dollar save to retire comfortably.
而不断上涨的生活成本意味着千禧一代需要存下一百多万美元才能舒适地退休。
It's a bleak outlook for most people who will probably be working in some capacity until the day they die.
对于大多数人来说，这是一个黯淡的前景，他们可能会一直工作到死。
But there are people with enough money to live several lifetimes in extreme luxury without ever needing to work again.
但有些人有足够的钱，可以过上几辈子极其奢侈的生活，而不需要再工作。
And yet they still choose to work, even at the expense of their health, their family life, and worst of all, their own net worth.
然而，他们仍然选择工作，即使以牺牲健康、家庭生活，最糟糕的是牺牲自己的净资产为代价。
So what the fuck is stopping so many billionaires from retiring? Even with his children in leadership positions, it doesn't look like Warren not is ready to retire just yet.
那么，到底是什么阻止了这么多亿万富翁退休呢？即使他的孩子担任领导职务，沃伦似乎还没有准备好退休。
According to Bloomberg, the average age of a global billionaire is now 63 years old.
据彭博社报道，全球亿万富翁的平均年龄现在是63岁。
And it's slowly getting older every year as wealthy people live longer and longer lives.
随着富人的寿命越来越长，这一年龄每年都在慢慢变老。
Male billionaires are slightly older as 63.7 years and female billionaires are on average 62.4 years old. Female billionaires have a longer life expectancy than male billionaires.
男性亿万富翁的年龄稍大，为63.7岁，女性亿万富翁的平均年龄为62.4岁。女性亿万富翁的预期寿命比男性亿万富翁更长。
But they still trend younger because several of them have been the beneficiary of an inherited estate or divorce settlement at a younger age.
但他们仍然趋于年轻化，因为其中几位在年轻时就成为遗产继承或离婚协议的受益人。
Forbes has also now reported that there are no billionaires under the age of 30 that are self-made. All of them have inherited their wealth.
《福布斯》现在还报道称，30岁以下的亿万富翁中没有一位是白手起家的。他们全都继承了财富。
As billionaires are getting older and richer, an ever increasing number of them are also working well into their twilight years.
随着亿万富翁年龄越来越大，财富越来越多，他们中越来越多的人也一直工作到暮年。
You might think that they are just obsessed with accumulating more wealth.
你可能会认为他们只是痴迷于积累更多财富。
The mental state of billionaires who just need more is a factor that we will get too soon.
亿万富翁只是想要更多财富的心理状态是我们很快就会了解的一个因素。
But for some of them, they would actually be even richer if they just took a step back and enjoyed their wealth.
但对于他们中的一些人来说，如果他们退后一步，享受财富，他们实际上会更富有。
A report by the Associated Press found that Donald Trump would be worth as much as $13 billion if he had just taken his $400 million inheritance in 1988 and passively invested it into the S&P 500.
美联社的一份报告发现，如果唐纳德·特朗普在1988年将他继承的4亿美元遗产被动投资于标准普尔500指数，他的财富将高达130亿美元。
That's a fortune almost double what he is estimated to have today by Forbes, even after the huge boost he got from the IPO of True Social.
这几乎是福布斯对他目前财富估计的两倍，即使在他从真实社交的IPO中获得巨大提振之后也是如此。
Love or hate the guy, you can't argue that he could have made life a lot easier for himself by just living off a passive investment portfolio.
不管你喜欢还是讨厌他，你都不能否认，他本可以通过被动投资组合让自己的生活变得轻松很多。
The world's richest man on the day that this video was recorded is Bernard Arnault, who is still the active chairman and CEO of the luxury goods company LVMH.
这段视频录制当天，世界首富是贝尔纳·阿尔诺，他仍然是奢侈品公司酩悦·轩尼诗-路易·威登集团的现任董事长兼首席执行官。
Despite being 75 years old, almost old enough to run for president if only he were American, that's 15 years later than when most people hope they can retire and only 7 years away from the average life expectancy of the average Frenchmen.
尽管他已经75岁了，如果他是美国人，几乎可以竞选总统了，但这比大多数人希望退休的时间晚了15年，距离法国人的平均预期寿命仅差7年。
Secession planning has started to worry other investors in the company because the agent chairman has made it clear he doesn't want to step down despite the problems it's causing for the company.
该公司的其他投资者开始担心分拆计划，因为代理董事长已明确表示，尽管分拆给公司带来了问题，但他不想辞职。
So it's time to learn How Money Works to find out the three reasons why billionaires refuse to retire.
现在是时候学习How Money Works来找出亿万富翁拒绝退休的三个原因了。
The first reason that billionaires don't retire even though they have enough money to last them several lifetimes is that a lot of them are just as stuck working their job as you are.
亿万富翁不退休的第一个原因是，即使他们有足够的钱维持几辈子的生活，他们中的许多人也和你一样，只能埋头苦干。
A study conducted by Chicago Booth Professor Steve Kaplin and Joshua R Stanford found that 69% of billionaires on the Forbes 400 list started their own business.
芝加哥大学布斯商学院教授Steve Kaplin和Joshua R Stanford进行的一项研究发现，福布斯400富豪榜上有69%的亿万富翁创办了自己的企业。
The remaining 31% of Forbes rich listers sourced their fortunes from inheritance, lucky investments or through pay packages as top company executives.
剩下31%的富豪财富来自继承、幸运投资或公司高管的薪酬待遇。
According to the Bloomberg Billionaires Index, Steve Ballmer is currently the sixth richest man in the world but he made most of his fortune without starting a company of his own.
根据彭博亿万富翁指数，史蒂夫·鲍尔默目前是全球第六大富豪，但他的大部分财富都是在没有创办自己的公司的情况下获得的。
He instead worked as the CEO of Microsoft after Bill Gates stepped down.
比尔盖茨卸任后，他转而担任微软首席执行官。
Ballmer received billions of dollars of company stock for filling the shoes of Bill Gates between 2000 and 2014.
鲍尔默在2000年至2014年间接替比尔盖茨，获得了数十亿美元的公司股票。
And his role was considered so important that despite mediocre company performance during his tenure, he is now worth almost as much as Gates himself.
他的职位非常重要，尽管他在任期间公司表现平平，但他现在的身价几乎与盖茨本人一样高。
The success of some companies relies heavily on the work of a few key people, who are often also the founders who are billionaires on paper.
一些公司的成功在很大程度上依赖于少数关键人物的工作，这些人理论上往往也是亿万富翁的创始人。
If you start a business that becomes so successful that you're staking it is worth a billion dollars, you still can't retire unless you have a way to liquidate your position.
如果你创办了一家非常成功的企业，你押注它价值10亿美元，你仍然无法退休，除非你有办法清仓。
You can do this by selling your shares, either through an acquisition or taking your company public.
你可以通过出售股份来做到这一点，无论是通过收购还是将公司上市。
You can also get your business to generate enough positive cash flow that you can pay yourself a dividend and live on that income stream in retirement.
你还可以让你的企业产生足够的正现金流，这样你就可以向自己支付股息，并在退休后靠这笔收入生活。
Or if you are very financially creative, you can use the equity you have in your company as collateral for a personal loan that you can then use to fund your retirement.
或者，如果你非常有商业头脑，你可以用你在公司的股权作为个人贷款的抵押，然后用它来资助你的退休生活。
Selling your equity in your company is the easiest option.
出售你在公司的股权是最简单的选择。
According to data compiled by by Morgan Stanley research and published by the Financial Times, the size of private equity funds that specialize in buying businesses from their founders has increased by 800% in the last 20 years.
根据摩根士丹利研究部门汇编并由《金融时报》公布的数据，专门从创始人手中收购企业的私募股权基金规模在过去20年中增长了800%。
The other way to sell your shares is through an initial public offering.
出售股份的另一种方式是通过首次公开募股。
