We have a combined income of about £250k. 70% of it is mine (investment banking). I can tell you what our lifestyle looks like on that, whether it’s sufficient for you is obviously personal choice.
2 x DC in private school, from Reception through to the end of 6th form, fees paid from income - both have 25% sports scholarships which is a big help. We have a decent house, but not luxurious - 4 bed semi in London, I need to be in London for the job. It’s worth about £1m with £80k left on the mortgage, we’re in our 50’s. It desperately needs a new bathroom, but we’ll need to save for a couple of years for that. The boiler is also likely to need replacing in the next year or two, we have savings for that, but it’s not like we can just write a cheque without wincing a little bit.
We have one decent, 2 week holiday a year, 5 star, AI, currently in Crete, with a 2 bedroom room and a private pool, we can’t afford a weeks skiing as well, but if DC want to go on the annual school ski trip they can. Our 2 cars are both well over 10 years old, we pay cash, spending about £10k per car and run them into the ground. We don’t have weekends away or eat out often. If DC want a takeaway, that’s OK, but only once a month or so.
We’re not overly bothered about fancy clothes/bags/beauty treatments, but both DC play sport to a high level. DS is a runner and he has 2 or 3 pairs of £200-£300 trainers a year, he runs about 60km a week so does get through them. Spikes are on top, so probably about £1k a year on running shoes for him, that’s not too much of a bother. We get made redundant fairly regularly, so always careful to have at least 2yrs worth of outgoings saved, both our pensions are healthy. We have a good life, but we’re not living like lottery winners!