Married professional couple, 40/41, makes a combined income of $220k pa. Expenses, $180k pa. Expenses include condo mortgage, car loan payments, car petrol, tax, insurance and maintenance, groceries, utilities, life and health insurance, parents allowances, fine dining, luxury goods purchases, top end childcare and tuition for kids, maid levy and salary, luxury holidays twice a year, income taxes, etc.

We lead a high class lifestyle. We hope to enjoy our high class lifestyle as long as we can while we are still young and energetic. When we retire at 65, we will lead a simpler life without no maid, car, etc. By then our kids would have been married and staying on their own. We will downgrade to a small studio condo and live off our savings and cpf life during our retirement.