Provide your computations or explanations, where appropriate. Give your answers to the following questions, and any needed explanations.
- Social Security benefit at FRA of 67?
- Social Security benefit at age 70?
- Life expectancy given DOB 2/1/1961?
- What is Client's target (total) retirement income in the first year of retirement (at age 67)?
- How much of the above retirement income must come from Client's retirement savings?