Bob & Sue retirement (2.5%: 2% for calculations & timelines, 0.5% for organization and explanations) Facts: Bob age 40/Sue age 40 (2020)Plan to Retire Bob Age 65 Assume a discount rate of 6% (all pensions & oas)/ 7% return on investments Assume both receive Max CPP of $11,500 and OAS $6400 in 2020 $Cdn at age 65 Desired Income age 65 to 95 is $67,000 (or $33,500 each) in 2020 $CDN Ignore inflation & taxes. Tasks: 1. How much do they need (Lumpsum) at age 65 to fund the retirement goal? 2. How much will the government pensions provide? Is there a surplus or shortfall. 3. If a shortfall, how much needs to be saved monthly?