Akshat Shrivastava
Akshat Shrivastava is an Influencer
Founder@Wisdom Hatch | Become a better investor --> WisdomHatch.com
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With 1 Crore income in India:You could buy:- A great car. - A great house. - Great healthcare/education for kids. - May be 5 foreign trips a year.- Premium/Business class flights.With 10-15 Lakhs income in India:You could buy:- A decent car. - An ok house (on EMI). - A decent education/healthcare for kids. - May be 1 foreign trip every 2-3 years. - Economy flights.Point is: At both these income levels, you would be in top 2% earners in India. And, should not have to worry about things that most Indians worry about.The magic is: that if you hardworking & sincere, you will get to one of these levelsTherefore:If you are in the top 2% earner, worry about other things than money.If you are not in the top 10%, then work hard to get there (you will get there!)The "money comparisons" only hurt our mental well-being.And, curbs your creative energy.
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Rohit Kaple
Senior Technology Leader | Project Program & Delivery Management Expert | Salesforce & Java Specialist | Agile Transformation Driver | Project Delivery Maverick | AI Enthusiast
7mo
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Hi i mostly agree with what you post Akshat Shrivastava jiBut,I think one example (of 10-15 LPA in india) is surely not relevant for Metro cities of india. Especially if you are living in Mumbai, Pune , bangalore, GGN .Monthly rents are minimum 30K post covid for a decent 2BHK (for a family of 4)Decent Petrol car everyday commute minimum 7-10 K /PMDecent schools - minimum 2LPA (for a single kid)healthcare - yearly inflation is more than 20-25% Flights tickets - again inflation is more than 40% this year.Tax direct and indirect again min approx 30 % 😊And for rural India 15 LPA income is still a distant dream for 90% of population.
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atul kherde
Startup Founder at Sushrut Designs Pvt. Ltd., COEP's BHAU Institute, NSRCEL (Healthcare pre-incubation)
7mo
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Like they say, "Even if you win the rat race, you are still a rat!" Not to demean - but to make one pause and consider where you are headed in life:from 20-30 yrs - focus on Money - that will decide many choices in life (but remain aware that this is never ending)from 30-40 yrs - focus on personal life, wife/husband, kids, if possible a flat / house, etc. Prime focus on giving the kids a good grounding in life regardless of what the school teaches them|from 40-50 yrs - take a step back and watch kids evolve. Find things you wanted to do, but never did and ways and means of doing them. Think of giving back to society.from 50-60 yrs - Stop WORRYING - your life is set, and nothing much (except probably a lottery or an accident) can change it drastically. Do what makes you tick, what inspires you, what makes you happy. Give back as much as possible - don't fret over small things. 60+ - float. Everything else is a bonus - if you are valuable to others, they will seek you out. Just don't go and thrust yourself on others.
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Anshuman Jaiswal
Founder, FryDay🌶️Financial Advisor | Investor | Educator
7mo
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What about the stupid mistakes after making good money?Making 15 lakhs can feel like making 1.5 lakhs in a few simple steps. - Buy a car 3x the price of what you can afford. A car that you think makes you happy but the happiness fades away within a week. - Get an iPhone a MacBook, and 5 OTT subscriptions.- Buy designer clothes, Jordans and RayBans.For the most accurate results, everything must be on EMI. Zero Cost preferred.Then wonder why you don't have enough to eat out, travel internationally, help your parents, buy a house or give your house help a raise. Things that actually make us happy.
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Arjun Mehta
Helping establish the global #GreenHydrogen ecosystem to expedite our shared #NetZero transition
7mo
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Income of INR 1 cr.:In-hand after a 'loaded' income tax is some INR 67 lakhs, or under INR 5.6 lakhs / month. A great house's EMI could be INR 2.5 lakhs.A great car's EMI could be INR 50k.2 kids' education and health is INR 50k / month. 5 foreign trips per year may have a monthly allocation of INR 1.25 lakhs (assuming each of these great trips is INR 3 lakhs for a family of 4).Business class flights are 30k a pop, so that's about 3 flights a month with what's left after the above.The difference is most of the INR 1 cr. earners will invest a good amount before spending the above.>> I would reprioritise your list to firm the message up, Akshat.
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Manish V.
Want to Learn Coding? Parents Students Computer Science Aspirants DM Now | Python C++ Java C DSA HTML R SQL Data Structures Algorithms College Projects
7mo
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Spot on! The essence of wealth isn't just in the zeros of your bank balance, but in the richness of experiences and the quality of life. Whether you're in the driver's seat of a luxury car or a sturdy family sedan, the roads traversed create the memories, not just the wheels.Being in the top 2% is like having a premium ticket to the IPL match; you get the best view, but the thrill of the game is the same in every seat. It's about cherishing the match, not just the perks that come with your ticket.So, let's not let the money scoreboard dictate our happiness. After all, you can fly business class and still not find peace, or ride a scooter with the biggest smile.
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Kaushal Kumar
Engineering at Microsoft | 10k+ | Ex-Flipkart
7mo
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I don't think we can buy the mentioned things in 1 Cr. Or maybe your and mine definition of great car and great house is different.Assuming you are in tier 1 city where house prices are high. Let's take example of Bangalore.Income: ~65 lakhs after tax. "Great" House cost: 5 Cr+ ( EMI : 3L per month for 30 years for 80% loan. 36L per annum)Car: 70Lakhs( EMI : 60k for 10 years for 50L loan. 7.2 L per annum)Education: 3LForeign trips: 2*5 = 10LBusiness class flights: 1L= 36 + 7 + 3 + 10 + 1 = 57 lakhs. If you include regular household expenses it will come to 10L per annum atleast. = total 67 lakhs. I have been frugal while calculating the education and foreign trip cost and I have not included the amount you should use for investment purposes still you are in debt after spending like this.And you can't buy decent car, decent house and a foreign trip with 10-15LPA for sure.Although we should not compare and do our best but still valid data point would have been better to convey the message.
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Rohan Mittal
P&L/M&A/Fund Raise/Transformation | Angel Investor| BW 40 under 40 Finance | Top 200 Global Power Leader Finance
7mo
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Respectfully disagree.I really dont see any 1 cr earners traveling business on personal expense. if company is paying, why not! Ignoring outliers.As far as 10-15 lac earners are concerned, trust me when I say this, its not easy to own a car, provide for a nuclear family of 4, send kids to great schools, have some discretionary income left over for holidays/impulse buying in this salary bracket. It's really not working. House rent / medical expenses for senior family members are one of the biggest reason.Situation is very different for both of above cases if you move from a family to a single person.
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Puneet Singh Randhawa
Business leader
7mo
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And remember, while creating wealth is important, enjoying each day of our lives is absolutely vital. Do what gives you a kick in life, create impact bigger than yourself. Be at peace ✌️
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Shiv Kumar
Officer at Government of India
7mo
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The hypotheticals are good, but come to reality. 10 LPA may be good for survival but will not get any mental relief. In real world, one major illness or accident will end up leaving with loan of lakhs of rupees. The education sector is marred with money making institution with and reasonable institute charging around 2 LPA per kid. Higher education is out of question unless the kids are genius and gets very high scholarship.Let's not talk about home and car.The post stinks of thought shared by some politician than its possible to get daily meals in 32 rupees.
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Vasantha Kumari
Senior Finance Associate at Subex
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With 1 Crore income in India:You could buy:- A great car. - A great house. - Great healthcare/education for kids. - May be 5 foreign trips a year.- Premium/Business class flights.With 10-15 Lakhs income in India:You could buy:- A decent car. - An ok house (on EMI). - A decent education/healthcare for kids. - May be 1 foreign trip every 2-3 years. - Economy flights.Point is: At both these income levels, you would be in top 2% earners in India. And, should not have to worry about things that most Indians worry about.The magic is: that if you hardworking & sincere, you will get to one of these levelsTherefore:If you are in the top 2% earner, worry about other things than money.If you are not in the top 10%, then work hard to get there (you will get there!)The "money comparisons" only hurt our mental well-being.And, curbs your creative energy.
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Divya Basavaraju
Founder at Go Resume. Certified Resume Writer & Career Coach. Job Search & LinkedIn Strategist | I Help Career Changers Transition to Their Dream Jobs
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With 1 Crore income in India:You could buy:- A great car. - A great house. - Great healthcare/education for kids. - May be 5 foreign trips a year.- Premium/Business class flights.With 10-15 Lakhs income in India:You could buy:- A decent car. - An ok house (on EMI). - A decent education/healthcare for kids. - May be 1 foreign trip every 2-3 years. - Economy flights.Point is: At both these income levels, you would be in top 2% earners in India. And, should not have to worry about things that most Indians worry about.The magic is: that if you hardworking & sincere, you will get to one of these levelsTherefore:If you are in the top 2% earner, worry about other things than money.If you are not in the top 10%, then work hard to get there (you will get there!)The "money comparisons" only hurt our mental well-being.And, curbs your creative energy.
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Gowdham GP
Senior Associate
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With 1 Crore income in India:You could buy:- A great car. - A great house. - Great healthcare/education for kids. - May be 5 foreign trips a year.- Premium/Business class flights.With 10-15 Lakhs income in India:You could buy:- A decent car. - An ok house (on EMI). - A decent education/healthcare for kids. - May be 1 foreign trip every 2-3 years. - Economy flights.Point is: At both these income levels, you would be in top 2% earners in India. And, should not have to worry about things that most Indians worry about.The magic is: that if you hardworking & sincere, you will get to one of these levelsTherefore:If you are in the top 2% earner, worry about other things than money.If you are not in the top 10%, then work hard to get there (you will get there!)The "money comparisons" only hurt our mental well-being.And, curbs your creative energy.Credits Akshat Shrivastava
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Akash Murthy
Co-Founder, euprime, Machine Learning & Analytics company
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Rising earnings inequality in the last few(2-3) decades is dominated by risingbetween-firm inequality. A increase in inter-industry earnings differential. Some industries like software have grown faster.Factors &/or consequences(Regression model) of these changes area) Earnings change b) Worker demographics(stayers, hire from other companies, hires from other industries, hire from non-employment) change c) Firm demographicsHire from other industries have the highest earnings differential amongst the lot from this changing scenario. They are most advantaged.Hire from industries like Retail, restaurants have the lowest earnings differential.Getting into 2% needs specialization. Going 10X from that level seems highly probable for people with highly transferable skills across industries. Eg. Senior management, Software, ML/AIShift companies across domains with a sharper sword(skillsets) of generalist skill, which is highly distinguishable with a huge unfair advantage. Ref: John Haltiwanger Akshat ShrivastavaCheck the diagram in the comment section as there is no option to add pictures in a repost.
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Dilshad Ahmad
Bachelor of Technology-Information Technology|Aec'24|Jamia Millia Islamia|Ex-Intern-International Model United Nations(IMUN)|Internshala Student Partner|
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With 1 Crore income in India:You could buy:- A great car. - A great house. - Great healthcare/education for kids. - May be 5 foreign trips a year.- Premium/Business class flights.With 10-15 Lakhs income in India:You could buy:- A decent car. - A decent house. - A decent education/healthcare for kids. - May be 1 foreign trip every 2 years. - Economy flights.Point is: At both these income levels, you would be in top 2% earners in India. And, should not have to worry about things that most Indians worry about.The magic is: that if you hardworking & sincere, you will get to this level.Therefore:If you are in the top 2% earner, worry about other things than money.If you are not, then work hard to get there (you will get there!)The "money comparisons" only hurt our mental well-being.Fact: Finland is considered as the happiest country in the world because it is also the country with the least income inequality.
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Chandra Veshu
C.E.O & Director Wealth Pyramid Consulting Pvt. Ltd.
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With 1 Crore income in India:You could buy:- A great car. - A great house. - Great healthcare/education for kids. - May be 5 foreign trips a year.- Premium/Business class flights.With 10-15 Lakhs income in India:You could buy:- A decent car. - A decent house. - A decent education/healthcare for kids. - May be 1 foreign trip every 2 years. - Economy flights.Point is: At both these income levels, you would be in top 2% earners in India. And, should not have to worry about things that most Indians worry about.The magic is: that if you hardworking & sincere, you will get to this level.Therefore:If you are in the top 2% earner, worry about other things than money.If you are not, then work hard to get there (you will get there!)The "money comparisons" only hurt our mental well-being.
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CA RAHUL MORADIYA
FCA | B.COM | DISA | Advance Excel | GST Refund Expert | Data Analysis | Microcap Investor
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With 1 Crore income in India:You could buy:- A great car. - A great house. - Great healthcare/education for kids. - May be 5 foreign trips a year.- Premium/Business class flights.With 10-15 Lakhs income in India:You could buy:- A decent car. - A decent house. - A decent education/healthcare for kids. - May be 1 foreign trip every 2 years. - Economy flights.Point is: At both these income levels, you would be in top 2% earners in India. And, should not have to worry about things that most Indians worry about.The magic is: that if you hardworking & sincere, you will get to this level.Therefore:If you are in the top 2% earner, worry about other things than money.If you are not, then work hard to get there (you will get there!)The "money comparisons" only hurt our mental well-being.
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Hemant pandey
Wealth Manager
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With 1 Crore income in India:You could buy:- A great car. - A great house. - Great healthcare/education for kids. - May be 5 foreign trips a year.- Premium/Business class flights.With 10-15 Lakhs income in India:You could buy:- A decent car. - A decent house. - A decent education/healthcare for kids. - May be 1 foreign trip every 2 years. - Economy flights.Point is: At both these income levels, you would be in top 2% earners in India. And, should not have to worry about things that most Indians worry about.The magic is: that if you hardworking & sincere, you will get to this level.Therefore:If you are in the top 2% earner, worry about other things than money.If you are not, then work hard to get there (you will get there!)The "money comparisons" only hurt our mental well-being.
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Yuvraj Zala
CEO & Game Director at AppGuruz | Building Games & Culture
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With 1 Crore income in India:You could buy:- A great car. - A great house. - Great healthcare/education for kids. - May be 3 foreign trips a year.- Premium/Business class flights.With 10-15 Lakhs income in India:You could buy:- A decent car. - A decent house. - A decent education/healthcare for kids. - May be 1 foreign trip every 2 years. - Economy flights.Point is: At both these income levels, you would be in top 2% earners in India. And, should not have to worry about things that most Indians worry about.The magic is: that if you hardworking & sincere, you will get to this level.Therefore:If you are in the top 2% earner, worry about other things than money.If you are not, then work hard to get there (you will get there!)The "money comparisons" only hurt our mental well-being.Well said by Akshat Srivastav. #sundaythoughts
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SHUBHAM SAXENA
CEO at Bharat Managed ServicesStrategic IT Sales Leader: Driving Revenue Growth through Innovative Solutions and Client Partnerships, Strategic Alliance Leader Orchestrating Collaborative Success
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With 1 Crore income in India:You could buy:- A great car. - A great house. - Great healthcare/education for kids. - May be 5 foreign trips a year.- Premium/Business class flights.With 10-15 Lakhs income in India:You could buy:- A decent car. - A decent house. - A decent education/healthcare for kids. - May be 1 foreign trip every 2 years. - Economy flights.Point is: At both these income levels, you would be in top 2% earners in India. And, should not have to worry about things that most Indians worry about.The magic is: that if you hardworking & sincere, you will get to this level.Therefore:If you are in the top 2% earner, worry about other things than money.If you are not, then work hard to get there (you will get there!)The "money comparisons" only hurt our mental well-being.Cheers!#healthmatters
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