I remembered
NTUC Income once defined the following:
Basic retirement lifestyle (stay in
HDB, no car, no holidays to "Ang
Moh countries, no maid): $3k a month for a couple.
Comfortable retirement lifestyle (stay in 5 rm or exec HBD or condo, a Jap car, no maid, 1 holiday per year to "Ang
Moh" country) : $5k a month for a couple.
Luxurious retirement lifestyle (stay in condo or landed, maid, a car, holidays overseas, restaurant dining once a week or more, club membership) : $8k per month for a couple.
To sustain the luxurious lifestyle for 30 yrs, assuming the couple retires today at 55, they need to have $2.5m now (with 3% inflation, and with 3% return on their $2.5m). If they want to leave something behind for their children, they need to have more than $2.5m.