For one summer, I'd' be happy if we can maintain the bulk of our squad, and all of the best players (beyond the likes of Gerrard who we know are leaving or who are getting on a bit).
Obviously the likes of Luis Alberto, Aspas, Johnson, Gerrard, Borini, Balotelli, Enrique and B. Jones could be on the move.
The likes of Sakho (25), Moreno (22), Emre Can (21), Henderson (24) Flanagan (22), Allen (25), Coutinho (22), Lallana (26), Ibe (19), Sterling (20), Markovic (21) and Sturridge (25) gives us 12 very solid squad players all with at least five full
Supplemented by experience, youth and players who should have a higher ceiling than we've seen so far in Mignolet (27), Skrtel (30), Toure (34), Manquillo (20), Lovren (25) and Lucas (28) is a further 6 players.
I want us to keep the bulk of the first list, and look only to replace the second list should a player we believe to better come available. I know it's never that easy. What I don't want to see us doing is selling the likes of Sterling this summer for a big fee. I want us to build the youthful squad we have incrementally towards one that can challenge for the league again. Bring in more experience where necessary whether that's Milner or someone else, bring in more youth where necessary. Presumably with Origi arriving next season upfront that'd be the youth bit ticked up and we could look for someone who is a better striker than our current options in the 24-33 age area (currently Borini, Balotelli, Lambert).
I think despite finishing 5th or lower (if we don't quite pip Manchester United now) we have a solid base from which to build, and our youthful players have had a season to move in the right direction.
I think we are close- and a comfortable window where our best players stay and renew contracts, and a few right additions of requisite quality to bolster the squad (perhaps one fantastic player if they come available, like we nearly got in Sanchez) and we'd be there.