Retirement Information The Monroes plan to retire in 25 years when they are 62 years old. They would like to have a standard of living equal to 80% of their preretirement income. At or before retirement, the Monroes plan to sell the bar and put the proceeds toward retirement. They expect to be in retirement for 28 years. INFLOWS Karl's net income from the bar (Schedule C) June's salary Dividend income Checking interest income Savings interest income Certificate of deposit Total inflows $64,000 57,200 777 130 400 275 $122,782 Retirement Information The Monroes plan to retire in 25 years when they are 62 years old. They would like to have a standard of living equal to 80% of their preretirement income. At or before retirement, the Monroes plan to sell the bar and put the proceeds toward retirement. They expect to be in retirement for 28 years. INFLOWS Karl's net income from the bar (Schedule C) June's salary Dividend income Checking interest income Savings interest income Certificate of deposit Total inflows $64,000 57,200 777 130 400 275 $122,782