Here is how a typical Singaporean couple can generate income when they retire at 65:
1.
CPF Life - $3500 pm
2. Rent out two empty
HDB flat rooms - $2000 pm ($1000 pm for each room)
3. Reverse mortgage of 4 room flat - let's say $1000 pm
4. Children's contribution - $1000 pm
Total income $7500 pm ($90k pa).
Spending
1. Food & utilities $1000 pm
2. Public transport $100 pm
3. Medical and insurance $500 pm
4. Holidays $500 pm
5. Buffer for inflation $500 pm
6. Misc $400 pm
Total $3000 pm
Savings $4500 pm ($54k pa)