Am I saving enough?

I have been asking this question to myself almost every day for the past few months. As days go by, I am turning more fearful about my future. This is also the kind of question that I not comfortable asking close family and friends for obvious reasons. I am 39 years old and my wife is an year younger. The last time, I felt this fearful about future was around 31, few months after our first child was born and we were neck deep in debt. Bad luck and few bad decisions in my 20's meant that it was a financially wasted decade. By the time, I turned 30 I am pretty sure, I had negative net-worth. We spent the next few years paying off debt, building emergency fund,buying a house and having two kids. Exactly 5 years ago (Sep 2008) at age 34, I opened my first 401(k) account. My wife had a 401(K) before we were married, but she was barely put anything to in it, something like 2% in the first few years(Don't ask me why...that is a different story). I have been keeping track of our net-worth for the last 2 years. Today we have 230K in our retirement accounts and our net-worth is 360K. Significant chunk of net-worth outside of retirement accounts is the equity on our home. The last couple of years, we have been saving about 40K per year. This accounts to 25% of our pretax income. 30K in pretax (401k) and 10K for post tax(ROTH IRA). This is the most we are able to save, we pretty much live paycheck-to-paycheck with the reminder of our money. Few times we had to dip into emergency funds ($300-$500 at a time) to make it thru the end of the month. I realize that I may come off as a show-off, when I ask if saving 40K is enough. I could also be perceived as fishing for compliments. This is the reason I do not want to ask this question of my family and friends. I am genuinely fearful of my financial future. This fear is a big part of my psyche. My dad was exactly like this and so were my grand parents. So the universe must have felt that it's only fair that this fear eat me out as well. Although I am much less fearful than my dad & grand parents. My dad never again invested in stocks after losing some money initially. I have no such fear. Now the obvious question someone woud ask is, if we feel we are not saving enough, why don't we find better paying jobs. We could make bit more money if we switch jobs. The reason both of us have not done are the perks that we have earned over the years, These perks most likely will not manifest in new jobs, at least right away. Biggest of the perks is that we both get to work from home 2-3 days a week, So someone will always be home, when kids come from school. We also receive excellent coverage for healthcare and pretty generous vacation & sick days. Also professionally both of us are in a good place. I am at a job, where I am minimally supervised and have a lot of say in choosing the projects that I want to work on. My wife is also finally on the stream that she always wanted to be in. For me the biggest surprise professionally is that this is the first time in my life that I like the people I work with as well as enjoy the work I do. before this job, it's always been one or the other The question that I am grappling now is Am I saving enough for our future. Would my current saving rate be enough to be able to retire in our mid sixties. The retirement life that I envision is pretty basic, a debt free with enough for food, housing and medical expenses if any. I would deeply appreciate response from anyone who has been thru this stage. I would also appreciate if you tell me that I am out of my mind and that I am blowing this out of proportion. Any feed back would be welcome.

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