Got any kids? If so, how many years for them to reach and complete uni studies?

Your situation same as ours when we were in our 40s (13 years ago). Then our networth was $2.4m.

I see no problem at all for you to achieve your networth goal of $5m by 65. In fact, I am confident you will achieve it by 55.

We are in our mid 50s, and working to hit $6.5m in networth before we reach 60.

With constant and steady savings and investment you will see the compounding returns coming in strongly from 50 onwards. This what we are enjoying now.

Our passive income has grown steadily from $50kpa at 50 to $120k pa now and we are pushing it to $150k pa by 60.

In meantime, dont forget to live and enjoy life. And it is definitely easier to be more carefree about expenses when you have built up a strong financial base. And strangely enough, you will also view work differently.