Overall, you have done well as you own BOTH a condo and a car which are the most desired things in Singapore. Your achievement puts you among the top 10% - 15% of the population in terms of net worth and social status.
As for retirement, you are on the right path. First, by the time you reach 65, your condo would be paid up. Second you would save $680k. Third you and wife will have your
CPF Life and you can choose the enhanced option to give you each $1750 pm.
Since you have paid up your condo, you need not pay any rent or mortgage and that saves a lot. Your
CPF will be $3500 pm and with $680k, you can invest in 5% dividend yield stocks to give you income of $34k pa or $2833 pm. Your kids will give you $1000 pm and if you have two kids, you get $2000 pm. In total your passive income is $8333 pm. This is more than enough.
In summary, if you want to retire well, you must have 5 Cs:
1. Condo - Retire in style to enjoy the facilities and nice landscaping.
2.
CPF Life - to give you monthly payouts
3. Children - to give you money every month
4. Cash - to buy dividend stocks
5. Control - dont overspend and do not engage in gambling, smoking, drinking, womanising, etc.