Husband and wife, 50 and 54 years old. Been married for 20 years and blessed with two wonderful children. Even though we are not very rich compared to the many forumers here, we are happy and contented.

Home: 3 bedroom OCR condo, 2 years old. Worth $1.1m, paid up.
Car: 1 year old, paid up.
Total salary (both combined): $120k pa.
Cash savings: $30k.
CPF (OA + SA + MA): $400k.
Total net worth: $1.53m.

Any suggestions how we can start preparing for retirement?