Connor, Abby and Carter all work for Worldwide Innovative Widgets, known as WIW. Connor has just turned 27, Abby has just turned 37 and Carter is 47 today. All are eligible to begin participating in the WIW 401(k) that is just starting. All three plan to retire at age 67 and to use the same asset allocation, which is expected to provide an average net return of 8%. Connor plans to have $5 million in the plan when he retires; Abby wants to save to get $2.5 million for her retirement. Carter would like to have $1.5 million in her plan. How much would each have to contribute each month to meet their respective objectives? What is the lesson to be learned from this scenario?