Hello.

I think you're worrying too much. Many Singaporeans are already retired with a lot lesser than what you have right now. If you plan to retire in Singapore, you can retire at 65. You will get your CPF Life monthly payment of $3600 pm for a couple if you opt for the Enhanced scheme. Your children, like any dutiful children, will give you $1000 pm. So with $4600 pm, you and wife can retire well provided you are not foolish enough to splurge on owning a car or employing a maid as these are unnecessary expenses when you're retired.

If you plan to retire overseas in a cheaper location, then you can actually retire as soon as your children are working and living on their own. This can be in the next 5 or 10 years, depending on how old they are now. How can you do this? You can sell your condo and plus your other cash, you could have $1.5m in total. Buy a portfolio of dividend blue chips which give you 5% dividend yield and you will get $75k pa. If you retire in Malaysia, this will give you RM225k pa of passive income. You can retire like a king anywhere in Malaysia with this income.

If you want to retire in luxury, you can rent a nice big condo in KLCC for RM5k pm and plus your other expenses of RM5k pm, your expenses win total will be RM10k pm or RM120k pa. You can save the rest for you to go for holidays all over the world.