We downgraded to prepare for our retirement.

We sold our landed property which appreciated 2.5x over a short span of 7 years. We earned a good profit and downgraded to a 3 room luxury condo in a good neighbourhood. Our investments are now giving us a passive income of $75k pa. We hope to retire in a few years time when we hit 55. By then we can collect our CPF monies and our children will be working and independent. They may also be married and staying in their own BTO flats.

Our passive income as a retired couple would be more than enough as we estimate our expenses will be about $40k pa only. We also expect our two children to contribute $500 pm each so we will get $12k pa from them. With this, our income will be $87k pa. We can save $47 pa. Once we reach 65, we should get an additional $3800 pm from CPF Life. Our income will then be $132k pa.