My wife, 51, earns $45k pa. Me, 48, earns $56k pa. We live in a 4 room flat, now fully paid up as we bought very cheap many years ago. We both take public transport to work and my wife cooks after work. We save $30k per year. We will retire at 65 years old. Our 4 room flat in Bukit Merah can now sell at $700k. We hope to sell it for $1m in 15 years time.

Our HDB flat is our only investment asset and we are happy that our flat's value has gone up so that we can retire at 65. If we depend only on our low salaries, we cannot retire but with our flat's value going up, we can sell and retire. We will sell our flat at $1m and then we will buy the HDB studio apartment for the elderly which cost only $70k. We are now very happy. We support the government very much.