My spouse and I have the option to retire now if we monetise our private property. We are in our early 40s and are debt free.

We can sell our fully paid condo and downgrade to a HDB flat and get $1m cash. On top of that we will also collect $400k cash from our CPF OA at 55. All this will be more than sufficient for our retirement expenses until 55.

When we reach 55, our CPF Life will provide us a combined $120k pa of passive income. Most likely we will only spend $80k pa and can still save $40k pa.

We are seriously thinking about retiring now to relax and pursue other interests. To retire at 55 is too old.