Middle class couple, both 45
Earn $140k pa in total
Expenses $110k pa
Savings $30k pa

Assets
4 room flat, renovated (paid up), worth $400k
Cash
CPF savings

Total net worth $1m

We plan to retire in 15 years time in our current home.

We will use our cash savings to fund our retirement from age 60 to 65, $4,000 pm.
Items - food, groceries, medical, public transport, short holidays. No need to employ a maid as only two of us in the house. Also no need a car as we don't need to rush to places. If we need a car, we will just call a taxi.

From age 65 onwards, we will get our CPF Life $3,800 pm.
We will also buy annuities. We get $1,000 pm.
Our children will give us $1,000 pm ($500 pm from each of them).
Passive income from age 65 onwards $5,800 pm.