Bengaluru: A Bengaluru tech professional’s claim that even a Rs 50 lakh annual salary may not be enough to become wealthy in the city has sparked a debate online about rising living costs and the challenge of building wealth.
Anmol Agarwal shared a video on Instagram in which he explained what he described as the financial reality faced by high-income professionals living in Bengaluru.
Where does the salary go?
Agarwal said that while a Rs 50 lakh package sounds substantial, taxes and EPF could reduce the amount available for spending and investment. In his calculation, around Rs 15 lakh could go towards taxes and EPF, leaving about Rs 35 lakh a year, or nearly Rs 3 lakh a month.
He estimated that rent for a two-bedroom apartment could cost Rs 60,000 to Rs 70,000 a month. Household expenses such as a maid, cook, groceries, gym membership, shopping and travel could push monthly spending to around Rs 1.2 lakh to Rs 1.3 lakh.
Adding a car could mean another Rs 50,000 a month, according to his estimate. For people with children, he suggested that monthly savings available for investment could fall to around Rs 1 lakh.
Property prices add another challenge
Agarwal also pointed to Bengaluru’s expensive property market. He claimed that a property costing around Rs 3 crore could eventually rise to Rs 6 crore or Rs 7 crore, making home ownership difficult even for well-paid professionals.
He suggested that some technology professionals consider remote jobs or building businesses while living in Tier-3 cities, where living costs can be lower.
Social media joins the debate
The video has attracted mixed reactions online. Some users agreed that high living costs make it difficult to accumulate wealth in major cities, while others said their experiences differed.
Agarwal’s calculations are his own estimates rather than a universal measure of living costs. However, the discussion reflects a broader debate over whether high salaries in Bengaluru translate into financial security when rent, lifestyle expenses and property prices continue to rise.