Mike and Maria are 44 years old. Mike owns a sole-proprietorship with gross revenue of $245,000 and total expenses of $73,500, resulting in a net profit of $171,500. Mike's net income equals the fees less the expenses listed. They plan to retire at age 60, and they would like to plan on funding potential retirement expenditures until they turn age 95. Mike expects his Social Security benefits will equal $30,000 in today's dollars at full retirement age, which is age 67. Maria does not have 40 quarters of Social Security coverage. Inflation is expected to be 3.0% annually. Required rate of return = 9%.

(note: I believe Maria qualifies for the family benefit and will thus receive $15k in today's dollars at full retirement age in social security)

*How much is Mike and Marias Social Security benefits worth today?