Low income guy, 42, $40k pa. Spouse, 45, earn higher, $60k pa.
Home, 4 room flat, bought cheap many years ago, paid up.
Total net worth, $600k.
How are we doing?
When can we retire?

Sorry to hear your low income state.
Probably have to work till 65 for retirement
Good luck and happy working.
Most important lead a stress less life
No point earning HH income $30k pm but stress like sh*t.

Look on the bright side and be thankful. At least your home is paid up. If you have kids, hopefully they'll help move the family up the social ladder.

The good thing about my job is that it is not so demanding so working until 65 will not be a problem. I have lots of free time to spend with my children and family. I can help them with their primary school homework and so I don't need to send them to expensive tuition classes. Luckily I have a working spouse to help share the expenses. I can even afford to own a cheap used car. We like to spend our weekends driving around as a family. We are contented with our lives despite our low income. I suppose life is not all about money. We feel blessed.

Since you already have an answer yourself, why you come and ask ppl how you are doing?

To get validation and assurance from others? No need lah. You happy can liao. No need for others to give you a pat on the back.

I envy you.

For our household, we make $30k per month as working couple. But we have no time for kids. We send them to expensive tuition, and employ maids, and buy two cars to save time. in the end, sometime I am wondering whether it is worth it?

Don't be fooled by the common misconception that rich people are unhappy, and poor people are happy. This is really not the case - at all. Unhappy people, unhappy families occur in both rich and poor households for all sort of reasons.

What is clear though, is that money does and can help you solve a lot of the problems.

For example, rich people have the option of sending their kids to overseas uni, while poor people don't have this option. This will be especially important when your kids cannot qualify for local uni.

Studies have shown that children from richer families have more advantages in their education through better better home environment conducive to learning, better access to resources including tuition and other skill development.

Do you have to queue up when doing your banking at the local banks? Well, rich people don't have to, they have priority banking privileges. It is a different experience altogether.

When your loved ones fall sick and need hospitalisation, do you agonise over what class ward, whether private or public hospital to put them? Rich people don't have this dilemma.

You may not believe this:- poor people consider eating at high end restaurants a rare treat, rich people consider eating at hawker centers a treat too!

My advice - don't be fooled by the misconception that rich people are unhappy and poor people are happier. This cannot be further from the truth. Don't let this lulled you into complacency and laziness. Work hard, save and invest and bring up the quality of life for yourself and your family.

Actually, the debate should be whether lazy people are happier than hard working people.

No point making lots of money but you neglect your children and your mental health. Don't be fooled by people telling you to earn so much, telling you how great being materially rich is. No amount of money can buy back the lost time you gave up to spend with your family. Those rich people who neglected their children will regret as these children more often than not are not really happy. Their parents think they can replace their attention with money and toys but they are just fooling themselves. You need to find a balance between the pursuit of material wealth and your responsibility towards your family. If you earn a combined income of $150k, with no more debt, then you are ok. Find a job that makes you a happier person and a more responsible parent. Don't listen to idiots in this forum.

It is never a zero or 1 situation. Earning more and being rich do not mean giving up time for yourself and your family. Sadly, those households with low incomes often see their parents working 2 jobs ending up with little time for themselves and family.

Many high HH income families are loving families and they have lots of quality family time and bonding. Their parents drive their children to school/work in the mornings and they also use this time to bond. Long overseas vacations are time for their bonding too.

You should not deprive yourself and your family a better life by not fully exploiting your capabilities, but as long as you don't blindly chase money for money's sake, you should do alright.

It is also important to know your strength and weaknesses. Stress comes from wrong job fit, and lack of training for the job.

All said, having that extra money is always a good thing. It is always better to be in a position where you can give help rather than be in a position receiving help.

I observed you have been complaining in this forum about your high pay but stressful life. You are in danger of depression and mental breakdown. I suggest you and wife quit your current jobs and go for less stressful jobs which allow you both to spend more time with your children. Please do not neglect them. Be responsible parents. Your time with them while they are young is limited. Make those time memorable ones. Nurture them well. Good luck.