My wife and I are contemplating retiring at 60 yo. By then our cash savings should sustain us for five years before we reach 65 yo when our CPF Life pays out $5k pm ($60k pa) in total. We are an average Singaporean couple living in a two bedder condominium unit in the OCR which is currently worth only $1.2 million. We own a small car which brings us from Point A to B. Upon retirement we may not need to own a car as we will not need it.