We downgraded from our condo to a flat a few months ago to cash out from the gains we made in our condo. We bought it for $500k in 2001 and sold it for $1.4m. We bought the flat for $450k fully paid up. Now we have cash of $1.6m which we plan to invest in blue chips to get 5% dividend yield or $80k pa. We will retire once our children got married and living in their own BTO flat. With just two retired persons with no debt, we will just need $50k pa.