Actually if you have S$2m in cash (exclude CPF funds), you can already retire.

If you want to retire like a rich tycoon, retire in Malaysia. With the exchange rate now S$1=RM2.70, you will get RM5.4m. You then invest in a low risk security in Malaysia giving you dividends of 4% pa RM216k pa. You can use this passive income to rent a penthouse in KL for RM5k pm (RM60k pa). The rest of the money can be spent eating in posh restaurants, driving a nice sports car, going overseas holidays etc.

If you want to retire like a king, retire in Thailand. You can get Thai Baht 48m when you convert your S$2m. Just invest in a low risk security and enjoy the passive income. You can rent a big mansion near the beach and employ three maids, two cooks, one gardener and two drivers.

Don't be a fool to wait until you are about to die to then retire. Open your mind. Think outside the box.