Average typical Singaporean middle class couple, 47 & 45, combined income $184,600 pa. Two kids in school.

Owns a 2-year old condominium unit currently worth $1.1m. No loan.

Drives a 1-year old car. Paid up.

We save $40,000 pa.

Our current net worth is $2m, including our condominium unit, car, CPF savings, stocks, insurance and cash. The bulk of our net worth is in our condominium unit and CPF savings.

When can we retire? What is the best way to prepare for retirement? We are open minded in terms of downgrading to a smaller condominium unit or a HDB flat. We are also open to retiring in other countries. Please advise. Thank you.