Couple working in the commercial sector, 48/42. Total income, $195k pa. Savings, $30k pa. Bought a condo now worth $1.2m. Mortgage outstanding, $700k. Owns a 2.4L continental car, no loan. Children are in primary school. We live a modest middle class lifestyle. Holidays to Asian countries, twice a year. Total net worth, $1.3m.

Any comments whether we can retire at 65? How much is enough? How much do we need every month as retirement income in 20 years time?