John and Jenny are couples, living in a small town located in sourthern Alberta. John is 60, and has $450,000 saved for retirement with no other sources of income. Jenny is 63 , and has no savings or other sources of income. They estimate that they-vill need $50,000 gross income per year to fund their lifestyle. His savings can earn a return of 5%. The average life span of people in Canada is 80 years for men, and 84 years for women. (1) How long will John's money last? (5 marks) (2) Is that long enough? (2 marks) (3) What could John change to make his money last to a later age? please list at least 3 suggestions for John ( 3 marks)