How much does a retired couple today need? (HDB flat paid up)

Daily food (home cooked)
Breakfast $2 x 2 = $4
Lunch $3 x 2 = $6
Dinner $3 x 2 = $6
Total = $16 per day or $480 pm

Groceries shopping (excluding food items for home cooking) $100 pm
Public transport $60 x 2 = $120 pm
Watch movies $25 x 2 = $50 pm
Medical $50 x 2 = $100 pm
Medical insurance $300 x 2 = $600 pm
Holidays $2000 x 2 = $4000 pa or $330 pm
Utilities (can enjoy rebates) $80 pm
Miscellaneous $140 pm

Grand total $2000 pm or $24k pa

So, if a retired couple at age 55 today has $24k pa of passive income or can draw down from savings, then they should be ok. Assuming NO dependents and other obligations. They also get CPF Life from 65 onwards.

However if you are the type who want to retire in luxury, you have to work longer until you can retire. But the problem is, by the time you retire at 70, you are too weak to move around or you can fall ill and cannot enjoy your retirement. When you die at 80, your children will be super rich and they will retire early and spend all your millions. Hahaha. You so clever. LOL.