In order to prepare for retirement, we have decided to focus on maximising our

CPF SA so that we can go for the

CPF Life enhanced option. We have cleared our

HDB loan and now debt free. This is a big achievement for us as we only earn $110k pa in total. We are 43 & 46 years old.

With the enhanced

CPF Life option, we can get $1800 pm each when we reach 65. So our total income from

CPF Life is $3600 pm. We will also have some investments which give us $1000 pm in income. We can also do the reverse mortgage and hope to get $1000 pm. So in total our income is $5600 pm. If we are lucky our children will give us say $300 pm each, so we get $600 pm. In total our income is $6200 pm. Since expenses may only be $4500 pm, we can still save.