Sally and Kristin hold the same position at an accounting firm and earn $45000 annually with an expected 3% raise per year. They share the same fringe benefits which amount to approximately $12000 per year and both have $250000 of life insurance. Both women are 35 and plan to retire at the age of 65.Sally is a single mom with two children. A majority of Sallys income 75% is spent on personal maintenance for her and her children and she pays approximately 24% of her income to taxes each year. Kristin is part of a dual income family and spends only 30% of her income on personal maintenance. Kristin and her husband are in the 34% tax bracket. Assume that non-monetary contribution to family is zero for both Sally and Kristin and that their after tax discount rate is 5%.