We are a middle income married couple in our early fifties. We earn $145k pa and save $30k pa. We upgraded to a condo unit some time ago and got it at a very good price. We are left with only $100k of mortgage, which we pay by our CPF. Now the condo is worth $1m. Our children is still schooling. We drive a 2 year old car with no loan. Our total net worth is close to $1.5m.

How are we doing? How do we prepare for retirement? We don't have any investments besides our condo home. We plan to downgrade to either a studio condo or a 3 room hdb flat when we retire as we prefer a smaller place as it is easier to manage.

Any advice? Thank you.