Originally Posted by Unregistered

45, 43, year old married couple with teenage children. Annual income in total $148k pa. Home is a new condo, fully paid up. We own a conti car, fully paid up. Cash and CPF savings $1.5m. We hope to save $30k per year for the next 25 years, hence our total savings will reach about $2.25m when we reach 65. By then our total net worth should be about $4m, including the condo. When we retire, we will sell our condo and buy a cheap one bedder condo. We will retire with the rest of our savings, maybe by buying annuities.