44 & 46, $160k pa combined.
Lives in a condo currently worth $1m with $200k mortgage left.
Drives a 1 year old car, paid up.
We enjoy a happy family life.
Our work is not so demanding and we have lots of time with your children.
We go for overseas holidays once a year, spending $10k pa on holidays.
We have some cash savings, stocks and CPF savings, totalling $500k.
Total combined net worth $1.3m.
We plan to retire by 55.

Retirement plan

1. Sell our condo for $1m, assuming price do not go up any further. Our mortgage will be cleared by then.
2. Buy a 2 room BTO flat for the elderly for $100k.
3. Invest $1.5m (from condo sales proceeds plus cash savings) in 5% dividend yield stocks. Get $75k pa of dividends.
4. Children will contribute $2k pm ($1k pm per child). This is $24k pa.
5. Total passive income $99k pa.
6. Spending $50k pa (simple retirement life with no maid and car$.
7. Savings $49k pa.
8. At 65, we will get $3600 pm from CPF Life or $43.2k pa.
9. If spending increase to $60k pa, our savings will be $82.2k pa. We can use this to travel the world.