John, age $28,$ and Emily, age $27,$ have just had their first child, Lindsey. They have a combined income of $$60,000$ and rent a two$-$bedroom apartment. For the past several years, John and Emily have taken financial responsibilities one day at a time, but it has finally dawned on them that they now must start thinking about their financial future. Recently, John has noticed the stock market begin to move higher, and he is convinced that they should be investing in stocks. Emily is more interested in investing in collectibles such as sports memorabilia because she's been reading reports of baseball trading card speculators making huge profits. When asked what their goals are, John replies that he'd like to save for retirement, and Emily mentions her top priority as saving for Lindsey's college expenses. They both agree that they'd like to buy a house and pay off $$4,500$ in credit card bills. When asked to list their investments, all they can come up with is a savings account worth $$700.$