Wifey, 50, earns $116k pa. Me, 55, earns $154k pa.

Home is a 3 bedroom luxury condo, now worth $1.2m, no more loan. Car, 5 years old.

Plans to retire at 60, will sell condo and buy a one bedroom condo, preferably near an MRT station in the West of Singapore so that I dont need to depend on a car to move around.

After buying new condo, will invest the rest of my money and savings of about $1m in dividend stocks, giving 5% dividends. Will get $50k pa, which is enough for food, utilities and some travel. Once we reach 65, I will get $1k per month and wife will get $1k per month from CPF Life or $24k pa. Children may also give $1k per month in total or $12k pa. So, we will have $86k pa. This is a lot of money for a retiree couple with no loan, no family obligations and no car.