Jorge was recently laid off and may not be able to find

another full$-$time job. Capital preservation is his primary

concern, so he wants to invest in treasury bills. His

retirement fund has $$1\mathrm{.}3$ million. He can receive social

security, so he will only need $$38,000$ per year from his

savings to live well. Jorge is $64$ years old. How long does he

expect his savings to last? Should he look for a job or enjoy

his retirement?