We are in our late 40s, with a total earnings of $168k pa. We live in a three bedroom condo which is fully paid up. Now the condo is worth $950k. We own a two year old car which we paid in full cash.
We are now embarking on our retirement journey. We plan to retire at 60, which means we have about 12 years to prepare for it. We envisage our children will be working, married and living in their own flats when we're 60.
Here is our plan:
1. Save $35k pa cash for retirement, which means we save $420k cash over 12 years.
2. Spend on average $4k pm or $48k pa or $240k over 5 years from age 60 to 65.
3. At age 65, our Enhanced
CPF Life will pay us $3600 pm in total (two persons).
4. Buy annuities at 60, with cash, giving us $500 pm, until we die.
5. Our filial children will give us $200 pm from each of them (not much as we don't want to burden them). Total = 2 x $200 = $400 pm.
6. So our total passive income from 65 = $4500 pm or $54k pa.
7. We retire in place in our condo. Our children and grandchildren can enjoy the condo facilities every weekend. We get to see them every weekend.
8. No need to employ maid as we will do our own simple household chores. This is also a form of light exercise for us. And to keep our mind active.
9. No need car as our condo is near bus stop and an
MRT station.
10. Holidays during non peak seasons, 2 times a year.
11. Total expenses $4k pm or $48k pa.
Basically we will be drawing down on our savings for our retirement. The only asset we will leave for our children when we die will be the condo where we are currently residing in. We don't want to leave too much wealth for our children. They must work hard for their own life and retirement, just like what we are doing now.
Retirement routine and activities (healthy ageing):
1. Workout in the condo gym.
2. Swimming in the condo swimming pool.
3. Play tennis in the condo tennis court.
4. Walk at nature parks. Explore all the many nature parks in Singapore.
5. Volunteer at charities.
6. Attend health and wellness talks.
7. Participate in activities at community centres.
8. Reading lots of books and learn new knowledge.
9. Watching TV and movies.
10. Holidays.
11. Household chores.
12. Grocery shopping.
13. Cooking.
14. Learn new recipes.
15. Trading stocks.
16. Bring grandchildren to the zoo, bird park, science centre, museums, etc.
17. Take care of grandchildren, when necessary, to help out our busy children.
18. Many more activities.
i can pass you some info if you are keen 
