Techie explains why even ₹50 LPA may fall short in Bengaluru: ‘You can never become rich here’
A Bengaluru techie has sparked a discussion online after arguing that even a ₹50 lakh annual salary may not be enough to build significant wealth in the city. From steep rents and everyday expenses to soaring property prices, he claimed that high earners can still find themselves with limited money left to invest at the end of each month.A techie explained why high rent, lifestyle costs and property prices made getting rich in Bengaluru challenging. (Instagram/notaboringdeveloper)(Also read: ‘I always try to look poor’: Bengaluru man sells iPhone and MacBook, drives 10-year-old car)Taking to Instagram, Anmol Agarwal shared a video breaking down what he described as the financial reality of earning a high salary in Bengaluru.‘ ₹3 lakh a month can quickly disappear’“50 LPA, 70 LPA, no matter how much money you earn, I will prove to you in one minute that you can never become rich in Bangalore,” Agarwal began.He said that receiving an entire ₹50 LPA package as base salary itself is difficult, but assumed such a scenario for his calculation. According to him, after deducting nearly ₹15 lakh towards taxes and EPF, a person could be left with roughly ₹35 lakh annually, translating to close to ₹3 lakh a month.He estimated that ₹60,000 to ₹70,000 could go towards rent for a 2BHK, followed around ₹10,000 each for a maid and cook, groceries and gym memberships. Shopping and travel, he added, could push monthly expenditure to around ₹1.2 lakh to ₹1.3 lakh.“If you also decide to buy a car, assume another ₹50,000 a month, which I am actually keeping on the lower side,” he said.Agarwal argued that expenses could climb further for people with children, leaving only around ₹1 lakh a month for investments and wealth creation.Property prices make buying a home difficultThe techie also pointed to Bengaluru’s expensive housing market, claiming that a property costing around ₹3 crore today could eventually reach ₹6 crore to ₹7 crore.“No matter how well you invest it, you may still struggle to buy a house until close to retirement,” he said, adding that his calculation assumes a person continues to remain employed without being affected layoffs or AI-led disruption.(Also read:
