Your bucket list will determine the amount of money you need to retire.  To understand your future needs calculate your money needs in todays’ terms and adjust it to your retirement lifestyle.

Start with today’s income, look at all types of income and expenses and assess if they will increase or decrease when you retire.  This will determine your estimated retirement income.  Choosing investments you like and understand, estimate how many you will need to own to produce your estimated retirement income, in today’s dollars.  This is your estimated retirement asset base (it may be in cash, superannuation, property or shares).  Review your retirement assets every 5 years.

Retirement assets may include government pensions, tax, rebates, and concessions, cash, shares and property.