Your combined net worth with your wife is already $5m. You can afford to retire now if you wish. As long as your passive income is greater than your expenses (just you and wife and assuming you no longer have dependents), you will be ok.
Don't make the mistake of working too long and dying young or becoming sick young and leaving all your hard earned wealth to your children. As long as you have given your children a proper education, they will survive on their own. Don't worry about their housing as our good system allow our citizens to own BTO flats very cheaply. You can own a nice 4 room BTO flat for only $200k. This cost less than your current annual savings of $350k pa.
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Originally Posted by Unregistered
Almost everyone I know seems not to escape the malaise of mid life crisis. It can strike anyone in their 30s to late 40s. They will typically find themselves at cross roads in their careers and even marriage.
At this point in their lives, they will change their jobs choose a different career, go for long holidays, buy themselves an expensive car or even divorced!
Among my colleagues when in mid-life crisis, many have "promised" to quit saying they had enough and wanted to move onto other careers or pursue their passions/hobbies etc. The interesting observation I made was that those did carry out their promise of quitting, did so before they hit 50. Those who did not quit by 50, surprisingly continued to work even till today when they are already in their early 60s.
I went through mid life crisis too when I was 40. I wanted out, take a break and travel the world but didn't have the guts to do so as my children still in primary schools. I stayed on to my job till this day, at 55.
Financially, staying on was a good choice, but I am not so sure about the life I have missed.
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