I myself am only 40 but I own a fully paid landed property and another fully paid investment condo. My net worth including my landed property is $4m. Despite this, I still need to work as the demands of living here is high.

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How true and how sad. My spouse and I were originally planning to retire last year when we hit 55, but looking at how things are developing, we decided to continue slogging until we are asked to go.

Initially we thought we prepared well. We diligently saved and invested. We have no loans now, and even managed to establish a passive income stream of $100k pa. It did look good at first, and we were pleased that we achieved our target of paying off our housing loans, car loans and supporting our children's education.

But looking at the ever increasing inflation and health care cost we just do not feel secure to retire and just rely on the passive income which is subjected to the vagaries of the economy. We would have to draw down on our hard earned savings/assets if the passive income drops below our yearly burn rate and worse come to worse downgrade our lifestyle - giving up the family car, going for shorter holidays to nearby countries.

Singapore is a good place to earn money but I am not so sure when it comes to retirement!