I am a typical middle class guy in my late 40s earning a gross income of $160k pa. Spends my money on home mortgage (shared), car loan payment and car related expenses, taxes, utilities, broadband, financial support to aging parents, kids' tuition, my personal expenses, holidays, etc. Managed to save only $40k pa. Spouse is in her early 40s earning $125k pa. She spends on groceries, home mortgage (shared), children's pocket money, taxes, financial support for her old parents, her personal stuff, branded bags, etc. She saves $45k pa.

We live like any middle class family, living in a condo and drive a car. We still have loans on both the condo and car. Our home loan is about $360k left and our car loan is about $40k left. We go out to eat at restaurants once a week and we go for overseas holidays twice a year.

Our total net worth (which includes the condo home equity, cash, stocks and CPF funds) is about $1.7m in total. Are we doing ok?