Low income couple, 25 & 25 yo, makes $54k pa combined. We save $5k pa.

Our expense items are home rental, MRT transport and expenses, household expenses, parental allowance, self improvement expenses, holidays once a year to Malaysia, eating home cook, taxes, insurance, etc.

Other assets (stocks, cash, CPF) $10k in total. Total net worth $10k.

Do you think we are managing our finances well?

We want to retire in 40 years time. Possible?