John and Carroll Speedwell are in their late 20 s and recently married. Both John and Carroll have saved diligently for retirement while single. Now the couple wishes to purchase their first home and needs to save for the initial down payment. John and Carroll have come to you to help them develop a plan to save for their home while maintaining their retirement saving commitments. John's retirement savings and contributions: Holdings in a money purchase pension: $17,000.00 (No ongoing contributions) From a former employer plan comprising a target benefit plan Traditional (IRA): $5,000.00 Ongoing contributions: $2,000/ year Current employer's 401 ( k ) plan: $4,500.00 Contributes 5% of pay Employer matches with 2.5%. Caroll's retirement savings and contributions: Roth (IRA) opened six years ago: $4,000.00 (No ongoing contributions) Former employer's SEP plan: $18,000.00 (No ongoing contributions) Current employer's 403(b) plan: $9,000.00 Contributes 6% of salary Employer matches with 7\%. 1. Evaluate John and Carroll's current retirement plans. 2. Calculate current contributions to existing retirement plans. 3. Analyze the impacts of prematurely accessing retirement funds. 4. Recommend which retirement plans john and Carroll should continue to contribute to and the amount of future contributions. 5. Recommend which retirement plans john and Carroll could potentially access prematurely