Married couple in our 50s. Combined household income $180k pa. No debt. I think we have to work until 60 years old before retiring. We have savings (cash and
CPF) to sustain us for 5 years from age 60 to 65.
Our retirement income will be from our
CPF Life and our children’s monthly contributions. Hopefully we can get $4k pm ($48k pa) in total. If this is not enough we will rent out one spare room for $1k pm. Total passive income can be at least $5k pm ($60k pa). Our retirement expenses will be less than $4k pm.