High income couple, 57 & 55 yo, makes $600k pa combined. We save $450k pa.
Our expense items are home mortgage, car installment and expenses, household expenses, parental allowance, children's expenses, holidays once a month, eating out, taxes, insurance, etc.
Home is a bungalow bought in 2003 for $2.1m with outstanding mortgage of $300k left.
Other assets (stocks, cash,
CPF) $5m in total. Total net worth $13m.
Do you think we are managing our finances well?
We want to retire in 3 years time. Possible?