Assume that your Friend is now 50 years old, that he plans to retire in 10 years, and that he expects to live for 25 years after he retires (i. until...

Assume that your Friend is now 50 years old, that he plans to retire in 10 years, and that he expects to live for 25 years after he retires (i.e. until he is 85 years old). He wants a fixed retirement income that has the same purchasing power at the time he retires as $50,000 has today (he realizes that the real value of his retirement income will decline year by year after he retires).