Fred and Louise are 38 years old and plan on retiring at age 67 and expect to live until age 95. Fred currently earns $150,000 and they expect to need $100,000 in retirement. Louise is a stay at home mom. They also expect that Social Security will provide $30,000 of benefits in today s dollars at age 67. He has been saving $17,000 annually in his 401(k) plan. Their daughter, Ann, who was just born, is expected to go to college in 18 years. They want to save for Ann s college education, which they expect will cost $20,000 in today s dollars per year and they are willing to fund 5 years of college. They were told that college costs are increasing at 7% per year, while general inflation is 3%. They currently have $400,000 saved in total and they are averaging a 7% rate of return and expect to continue to earn the same return over time. Based on this information, what should they do?