We are a retired couple, 55 & 56 years old. Passive income $60k pa. We live in a 4 room HDB flat. Our net worth, including flat, is $1.2m. We live a frugal life, no car, simple meals, no debt. Only spend $40k pa. We feel rich even though we seem poor. We pity those who seem rich but poor, they earn $300k pa but spend $400k pa. They have big bungalows, big car, etc and all on loan. They always argue about money and always compare with their elite friends.