We sold our flat and bought our condo in 2003. We managed to pay off the mortgage last year. We own a 3 year old car with some loan left. Currently we earn a total income of $150k pa. We are now 50 and 51 year old. Our total net worth is $1.6m. Are we doing well among our peers? What can we do to prepare for retirement? CPF Life is a source of income when we retire. What else can we do to get more income when we retire? Should we downgrade to a smaller condo?