How much do you really need in retirement? And how do you plan for an inheritance - giving or receiving? Financial adviser JAMES WRIGLEY explains what steps you can take.

Visualise your retirement with no financial limitations. What does that look like? If you were to achieve that dream, how much do you think you would need?

The Association of Superannuation Funds of Australia (ASFA) publishes a quarterly report called the ASFA Retirement Standard , which is interesting reading as you head towards retirement. Their quarterly report gives you a breakdown of how much people (either a single person or a couple) spend in retirement, living what they describe as either a comfortable or modest retirement.

Not only do they give you a headline number - for example, $73,875 for a couple to liv

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