Underperforming graduate couple, total income $130,500 per year. Lives in an old condo worth $800,000. Mortgage outstanding $400,000. Owns an old car. 3 children in schools. We are both 47 this year. Total net worth (including condo's equity value, cash,
CPF and stocks) $1,050,000.
Any advice how to prepare for retirement? Is it wise for us to downgrade to a 3 room
HDB flat when we reach 65? Or should we consider retiring elsewhere like some forummers here suggested Malaysia or Thailand. Thank you.