Middle class couple, 54, 52
Children in universities
Household income $12k pm
4 room flat paid up
Small car paid up
No debt
Combined household net worth $1 mil

Will retire when we reach 65 (we will start receiving our CPF Life)
Our projected retirement combined passive income from various sources about $5k pm ($60k pa)
Our retirement expenses estimate $4k pm ($48k pa) (food, utilities, insurance, holidays, donations, etc)
Plans to have no car in retirement (don’t need, save money and save the environment)
Will cook our own meals