1. Arnold has allocated all of his contributions in his retirement plan to a government bond fund. Is this choice consistent with long-term retirement planning?
2. The Steeles would like to plan for early retirement when Arnold reaches age 62 in 25 years. About how much would they have to save each year in order to afford a comfortable retirement?
3. Suppose the Steeles delayed retirement until Arnold is age 67 when he qualifies for Social Security benefits. How would this affect their savings decision?
4. If the Steeles decided to increase saving for retirement, what tax-advantaged investments might they consider?