Why do we feel poor even though our net worth is $5m?

Here are the reasons:
1. Our circle of friends and people we socialize with have higher net worth (most are professionals and some are business owners)
2. Our net worth comes mainly from the property we stay in ($1.8m). Another $1.3m is from 2nd property, but rental income (net) is only $38k pa.
3. $1.2m in CPF (total) (interest about $35k pa)
4. $600k in stocks, unit trusts and single premium insurance (yield $25k pa)

We hold the rest of $100k in cash to cover expenses and for emergencies. Luckily we are debt free.

5. We are well aware that our net worth can easily drop if economy turns sour as we have been through a few economic cycles where our property values and shares have dropped.

6. COE prices are so high. We feel we cannot afford to buy a new car when our current car COE expires

7. Children are still schooling and thus needs to set aside funds for their university fees. If overseas, have to consider selling off the 2nd property to finance that or remortgage.

8. With each passing year, we seem to be saving less. Our income taxes, property taxes, maid salary and levies, road tax, insurances, condo maintenance and sinking funds, utilities, and daily essentials seem to be increasing. I blame it on inflation.

9. We are seeing more young people earning more and more. What they are earning in their 30s are what we managed to earn in our late 40s.

At the end of the day, our disposal income is nothing to shout about. We still have to think twice eating at restaurants, going for overseas holidays, buying new car or even buying new furnitures.