While the OP clearly has a good standard of living I think we need to be somewhat realistic here also. They are 39, have ~625k equity in their home, 400k in pension pots...that isn't bad! There's always ways to save more of course, but for me I think they may have struck a good balance between living and saving, and once they clear the loans (which they hope to do in next couple years) then I think they are in a very enviable position.Your lifestyle seems incredibly extravagant - get on top of the discretionary spending, clear down high interest debt and start reducing the mortgage.
My thinking is that the cleaner and gardener are needed. And without them, we'd have less time to spend with our kids.
Thanks to everyone for the feedback. A lot of food for thought there.
The question was asked about our goals. It is an interesting one.
I guess we work hard, as many people do, so we sort of see the Revolut money as "ours" to be relatively frivolous with. Rightly or wrongly, I think our 20s were enough of a struggle financially that we should be at a point now where if we want to buy something on a whim, we can.
Longer term, we want to be debt free as soon as possible but without preventing us from enjoying life now, to secure pension income of at least €100k pa gross between us, to be able to choose to work into our 60s and 70s rather than have to, to travel extensively, and to have enough in the kitty to subsidise house purchases for the kids if they choose to follow their hearts into something like teaching or nursing.
I agree teachers aren’t paid nearly what they’re worthbut just for perspective, as one, with a household income less than a third of yours I’m able to save a higher percentage of my income every month, pay income protection and have no debt aside from a modest mortgage - (i don't mean that to be smart by the way)
While I’d agree €1600 discretionary income between two people on a high salary is reasonable in the main - a high mortgage is also a discretionary (and while the house is worth a lot, that is no use until you sell) expense plus gardener, cleaner etc (tho I completely see how they make life easier when both parents are working) clearing those loans in particularly would make a good difference, but I would just say I have seen a couple of people I know recently who have had unexpected health issues and they have been painted into a corner either having to give up work for a long period or not being able to do so when they should be as a result of huge domestic expenses - not saying you should give up everything but your financial flexibility it is just something to consider I think that people often don’t
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