The Trotters are currently negotiating a new and improved deal to keep Allardyce at the Reebok Stadium following recent interest from Newcastle United.
Contract negotiations are in the hands of the Bolton manager's representatives but he is hopeful that terms can be agreed with the chairman soon enough to enable him to continue the fine job which he is doing with the Wanderers.
"I wouldn't think the new deal would be any longer than five years as I plan to retire about 55. That would take me to that point.
"It is just left on the basis of my representatives sorting out the finer details with the chairman at the earliest possible opportunity. If everything that is written down comes to me and looks okay then we will just sign it and get on with it. There is still a five-year deal in place so there is no massive rush."
"Big Sam" revealed that he was very flattered by the recent interest from Newcastle and says that it is nice to see that his efforts with Bolton have not gone unnoticed in the five years he has been in charge.
"I have had one opportunity and was very flattered by it. It is nice to know people are looking at what you are doing and thinking about you for their club. These talks have come about by someone else wanting you, which I feel is sometimes not the right way to get it.But you have to take the opportunity when it comes along. You would think they would come along and reward you without someone else coming in for you but football does not seem to work like that."
Once he does finally close the door on management Allardyce has planned to spend more quality time with his family and hopes to see more of the world.
"The game has changed so much and at that stage of my life it might be that you want to see your grandchildren a bit more and see the world a bit more. You want to enjoy that side of life a bit more before it passes you by and are in a big wooden box."