A common belief that an annual income of 500 thousand rupees allows a person to become wealthy is refuted by one of the engineers from Bangalore. He argues that due to the constantly rising cost of living in the city, even someone with such a high income cannot accumulate significant wealth.
A technical specialist from Bangalore, Anmol Agrawal, shared this observation in a video he posted on Instagram. His video quickly went viral on social media because it explains why achieving wealth becomes difficult despite a high salary.
In his video, Anmol demonstrates that it is hard to get rich in Bangalore relying solely on work, regardless of whether you earn 500 thousand or 700 thousand rupees a year. He gives an example: if the base annual salary is 500 thousand rupees, after deducting taxes and EPF contributions, a person is left with about 350 thousand rupees, which is equivalent to approximately 300 thousand rupees per month.
According to Anmol, the rent for a two-bedroom apartment (2BHK) in Bangalore can range from 60 to 70 thousand rupees. Furthermore, when adding expenses for a nanny, cook, groceries, gym, shopping, and travel, monthly expenses easily exceed 120–130 thousand rupees. If a person buys a car, their monthly payments and other related costs can add another 50 thousand rupees. As a result, after accounting for children's education and other needs, the amount available for investment becomes very small.
Anmol also highlights the serious issue of expensive housing. He predicts that a house currently costing 30 million rupees in Bangalore could reach 60–70 million rupees in a few years. This makes buying a home a difficult task even for people with good incomes. He adds that this calculation is based on the assumption of continuous employment and no risk of job loss or changes related to artificial intelligence.
Anmol believes that a better alternative might be living in a Tier 3 city while working remotely, or starting one's own business. He explains that the cost of living is relatively lower in such cities, and the potential for savings is higher.
After the video became popular, mixed reactions appeared on social media. Many users agreed with Anmol's opinion, noting that inflation and real estate prices in Bangalore are indeed a major problem. Others suggested that after gaining experience, working abroad might be a more profitable option.
It is important to note that the opinions and calculations expressed by Anmol Agrawal are his personal views. Actual expenses, taxes, and savings can vary greatly depending on each person's income, lifestyle, and financial situation.
