I'm surprised that there are people whose net worth has reached $5m but still has no confidence to retire. I supposed it all depends on the lifestyle one wants to maintain during retirement.

I would be contented to retire when our net worth reach $2m. My wife and I are happy to retire in our paid up flat which is now worth $500k. Our CPF is now $400k in total. If we have another $1.1m to hit $2m, we tell ourselves that we can already retire. The $1.1m can easily give us $55k pa in dividends. Our current expenditure with 3 kids is around $80k pa. We own a car and employ a maid. So if just the two of us, with no car and no maid, our expenditure can be as low as $30k pa since we are debt free. Our expenses in retirement will be just food, utilities, public transport, medical insurance and some overseas travel.