Good decision. In today's uncertain global economic environment, it is best to be conservative. Don't listen to naive optimistic comments which you may regret for the rest of your lives. Be prepared for possible retrenchment. Retrenchment can come any time especially if you are in your 50s and highly paid. Better be safe than sorry. Don't be fooled.

Get a small flat, pay it off as quickly as possible. Then save up for your retirement. Top up your CPF as much as you can as it is the safest investment. Maximise your CPF SA so that you will get the highest payout from your CPF Life when you are 65. Don't bother investing in a second property as you can be bankrupt if the property market crash and you have no tenant because of the massive oversupply. Those HDB dwellers who invest in a condo thinking they can rent it out will be in deep trouble. The same for those who buy a condo and want to rent out their HDB flat, they will also not find any tenants. There are many property agents selling this idea of buying property for investment, they just want to sell their properties.