By the time we retire at 55, we have cash savings of $750k. We calculated that from 55 to 65 years old, our total retirement expenses will be $500k. This takes into account inflation.

At age 65 onwards we will receive $48k pa from our CPF Life and another $12k pa from stocks dividends. In total our passive income from 65 onwards is $60k pa.

We will be retiring in place in our paid up 3 bedroom condo (worth $1 million). We do not need to downgrade to retire. We are now 46 & 48 years old.

At age 55, this is our expected expenses per month

Food, groceries, utilities & condo fees $1500
Public transport (our condo is near an MRT station) $200
Medical insurance & fees $800
Entertainment & holidays $500
Miscellaneous $500
Total $3500 pm or $42k pa