When can a working married couple retire?

It depends on how much they need when they retire. If they eat at restaurants everyday, drive a luxury car, go expensive holidays, etc, they will need millions to sustain their retirement. However if they retire simply, they don’t need much.

Before they retire, they should clear their home mortgage. This is a big expense. Next, they need to get rid of their car.

Food and groceries for two persons costs $1000 pm
Utilities and wifi $300 pm
Medical insurance $1000 pm
Transport $200 pm
Holidays $200 pm
Miscellaneous $300 pm
Total $3000 pm

Total $36k per year

So if the couple has $400k cash, they can retire at 55 years old.

When they reach 65, their CPF Life will pay $4000 pm in total.