I have managed to save up for our retirement. However, I am torn to decide whether to use it to enjoy our retirement or leave some for our children ?

Leaving a legacy for your children is a very personal choice. I can tell u are a very good parent, even in your later years u still want to give your children a better life.

I can only help to provide some rational perspective for u to consider. I believe u will still have many good years to go, by then your children would be long a working adult and maybe married. Would they need the additional money at this time? (Yes, I know no one will think no amount of money is too much). The answer is probably not (as a need), therefore any amount left for them will be like a appreciated last gift.

You might want to take a look at your assets. Do remember u will still have your home, which would be of considerable value as well. As well as your CPF monies(CPF medisave and CPF life if u choose the plan that leaves a larger legacy). And also any life insurance that u have already purchased.

Additional way is to further make use of life insurance. Take a portion of the money and buy a single premium whole life insurance, which can guarantees multiple times of your invested money (3-8x) as insurance payout upon your passing. Such policies possess cash value which can be terminated early if u ever want to utilise the money. With this insurance u are free to enjoy your retirement, knowing your children will get at least $X amount of payout.

Depending on your current age, other strategies can be used.

It might also be time to consider proper legacy planning. Get your will written (with your spouse too, maybe a mirror will), so as to ensure your properties are properly distributed upon your passing.

Do reply here or msg me on my facebook if I can further assist u.

You have sacrificed and worked for 40+ years of your life. Raised your children to be responsible working adults who are more than capable to continue your family legacy and make you proud.

It's time you focus and pamper yourself.

But if I may suggest, I'm sure you love spoiling your grandkids. Leave some money for them.

There are ways to make sure that you give them an ang bao every year till they have grandchildren of their own even once you're no longer around.

Because legacy just means, "How would you like to be remembered and for how long?".

You can make this forever if you want. Let me know if this is something you would like to do to be remembered. I can make it happen.