Lifestyle Inflation: Why Rs 1 Crore Salary Won't Make You Rich

Meenal Goel, a finance expert, shared her thoughts on why earning a lot of money doesn't necessarily make you rich.

She explained that many people fall into the trap of lifestyle inflation, where they spend more as they earn more.

For example, they might upgrade their rent, buy a fancy car, or order food delivery instead of cooking at home.

This means that even if you earn a lot, like Rs 1 crore a year, you might not save much if you keep increasing your spending.

Goel suggested that with a 10% yearly salary hike and investing your savings wisely, you can build a Rs 1 crore corpus in 10 years.

Once you have that, you can earn around Rs 1 lakh every month without working, which can cover most of your expenses.

Many people agreed with her, saying that controlling lifestyle inflation is key to building wealth.