Fred and Louise are 40 years old, 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. Fred has been saving $17,000 annually in his 401(k) plan. Their daughter Ann, was just born and 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 overtime. Based on this information, what should they do?