We are not high flying corporate executives but we are astute property buyers. Bought our 3 bedder condo at a good price and now almost cleared the mortgage. We will retire in our condo so that we can fully enjoy the condo facilities such as the big swimming pool, jacuzzi, modern gym, tennis courts, etc.

Here is our plan to retire in five years time at 55.

1. Totally clear our condo mortgage by 55. Be debt free.
2. Collect our CPF.
3. Children must be working and earning own income. They will take care of their own expenses. If they stay with us (cos not married), they will have to contribute to the family's expenses. This is to teach them about responsibility.
4. Choose ERS so that our income from CPF Life will be $4k pm or $48k pa (two persons) at 65.
5. Generate $3.5k pm from cash savings and dividends from age 55 to 65.
6. From 65 onwards, we will spend $4k pm on average or $48k pa. This is covered by CPF Life.
7. Build cash buffer for emergencies.

Our retirement expenses include
- food & groceries
- utilities, phone & broadband
- condo fees
- public transport (MRT & bus)
- medical insurance and fees
- entertainment
- holidays
- others