What do you want from retirement?

It's probably more than just money. You need to consider your health, your home, relationships, interests, hobbies, and work. And you may need to make compromises if you can't afford your goals. This may mean a slight change to your lifestyle, but it could also mean working longer or working part-time before retirement.

Here are some tips for setting goals:

• Write them down and be specific about what you want. Include a timeframe to achieve each goal.
• Consider what you want to achieve without necessarily evaluating if it is realistic.
• Involve your partner or spouse.
• Return to your list a few times because once you have written some ideas down, new ones might pop up, or ones you have written earlier may become clearer.
• Review and prioritise your goals. You may not be able to achieve them all in the amount of time you would like.

Now it is time to start thinking about what income you want, and need, to receive in retirement.