How am I doing? - Help yourself and everyone else series.

[d.o.g.]

1) I am not sure when to buy the flat, as the prices even in ulu places like Woodlands are very expensive now.
2) If I buy the flat as expressed above and mortgage is 802 per month. Do you think at my age paying 802 for 20 yrs is risky?

3) How do you think I am doing? Do you think I will reach my goals?

4) Do you think I am prepared well, as I have small kids and I want to ensure they are not impacted by any layoffs or other income generating problems.

Since I am not licensed to give advice let me state upfront that the ideas below are for discussion only.

You have stated your goals i.e. endpoint. But we don't know your situation i.e. start point. In order to have some idea of whether you can get "there" from "here" it would be good if you shared your situation:

1. Nature of job held by self and spouse
2. Salary (ballpark) of self and spouse
3. Monthly household savings
4. Current net worth and breakdown (bank, stocks, bonds, property etc)

Also, your education goal for the children needs more details:

a. Number of children and their ages
b. University type (local? US? UK? China? Japan? Australia?)

Also, is the $200k goal in today's dollars or future dollars?

One final thing that was not discussed: do you wish to leave anything to the children?

If you are willing to die poor, then you can draw down your capital in your final years, which could materially reduce the amount needed at retirement. If you want to leave a meaningful sum to the children, then you will need a lot more at retirement, so that your spending doesn't erode the principal.