As a 50 yo and sole bread winner with a HH networth of only $1.4m, your situation is precarious.

Assuming your condo is worth $900k, you have but $500k either in CPF or cash or investment.

Below are some questions you should ask yourself and you will know if you are financially sound or not.

How's your cash flow like? Are you able to save each month and how much?

How old are your children if any? If they haven't gone into uni, your HH expenses have yet to peak.

Job wise, is it secure? Do you see your salary increasing year after year? Any more promotion?

Health wise, do you have sufficient insurance, hospitalization and surgery coverage outside of your company provided insurance?

Just to share, my wife and I are now 56, our salaries have stagnated. Job wise, although we would like to work till 62 (official retirement age), we are not sure if our health will permit nor if our companies still want us till that age.

So what did we do? Since our mid 40s, we have been investing to build up alternative sources of passive income. Last year, our passive income was $130k pa which is slightly below our HH expenses of $150k pa. As we are still working, we reinvested all our passive income. There was one year where we used the passive income for the year to buy a new car to replace my wife's car. Luckily our children have graduated and are working already.

Whether you are upper or middle class is totally irrelevant and unimportant. It is whether you can continue with your current lifestyle if you suddenly lose your job or when you retire.