Bengaluru woman says ₹1 crore salary not enough

Meenal Goel, a Bengaluru-based chartered accountant and former Deloitte and KPMG employee, explained why a ₹1 crore salary may not make someone rich.

Goel stated that lifestyle inflation, where spending rises alongside income, is the biggest obstacle to building wealth.

She noted that software engineers earning ₹50 lakhs can save less than government employees earning ₹12 lakhs due to lifestyle inflation.

Goel argued that with a 10% yearly hike and 12-15% investment returns, hitting a ₹1 crore corpus in 10 years is possible without a high salary or rich parents.

She emphasized that financial discipline, not a high salary, determines whether a person builds lasting wealth.