Tony would like to have a lump sum when he retires from which he can draw $40,000 per year (in todays terms) on the first year of retirement and thereafter increasing with inflation (3%), for the duration of his retirement which he estimates to be 30 years. Upon retirement, Tony plans to consolidate all his investment assets into a conservative vehicle returning around 4% pa net of fees and taxes. Given he wants to retire within 10 years. Using the information provided calculate the PVA ( provide accurate calculations). Im not sure whether to use growing PVA or constant. Also does the 10 years ( when he wants to retire) need for the calculations?

Compare the lump sum to the what Tony has projected upon retirement, to determine the future planning gap. His net upon retirement is (1406000 (assets - liabilities). It asks for the future planning gap, so I'm assuming that the PVA answer should be higher than what Tony has projected in order to have a gap.

please help!!!!

Direct shares	$35,000
Term deposit	5,000
Savings account	230,000
Cheque account	3,000
Townhouse	420,000
Beachside unit	390,000
Superannuation	380,000
Liabilities	60,000