47, sole bread winner, salary $65k pa. Wife is a housewife. One son. Our home is a cosy 3 bedroom flat. Paid up the flat a few years ago since we bought at a very low price. Goes to work by MRT. Luckily our home is next to an LRT station which brings me to the nearest MRT station. Now focusing on saving up my CPF and in cash. When I retire, we plan to rent out our one spare room (after son got married and move out) and also getting payout from my CPF Life. Also will spend some money from my savings.

From this forum, we also got some good ideas on retiring overseas. One possible idea is we can rent out our whole flat for $2500 pm. Plus my CPF Life monthly payout of $1200, I will get $3700 pm and if we convert to RM, we will get RM9500 pm in passive income. We can rent a 3 bedroom condo in JB for only RM1000 (due to oversupply of empty properties in JB) and our spending in retirement will only be RM5000 in total. We can then save the rest.