Many people believe that crossing a certain income milestone automatically leads to financial freedom. However, Bengaluru-based CA Meenal Goel believes earning more money does not always translate into building more wealth. She shared how her own perception changed after realising that a high salary can still leave people with limited savings if lifestyle expenses rise at the same pace.

Meenal Goel, an ex-KPMG employee, took to social media and reflected on how she once believed that earning Rs 1 crore would be the ultimate sign of financial success. She recalled that when she was earning Rs 1,00,000 at KPMG, she assumed reaching the Rs 1 crore mark would make her rich. However, she later realised that income alone does not determine wealth.

Why a high salary does not always mean financial freedom

Goel pointed out that some high earners struggle to build wealth because their expenses increase alongside their income. She highlighted that she has seen software engineers earning Rs 50 lakh annually but saving less than government employees earning Rs 12 lakh.


According to her, the biggest challenge is lifestyle inflation, where every salary increase leads to upgraded spending habits. She explained that a Rs 20,000 rent can eventually become a Rs 70,000 rent. A simple Activa can be replaced with a BMW EMI, and home-cooked meals can turn into frequent food delivery orders. As expenses expand, salary hikes can disappear before people even realise it.

You don't need a Rs 1 crore salary to become a crorepati

Goel highlighted that a common misconception is that people need a massive salary to build significant wealth.
She noted that fewer than 2.3 lakh Indians earn over Rs 1 crore annually, representing only around 0.16% of the country's population. However, she believes becoming a crorepati does not require earning Rs 1 crore every year.

According to her, disciplined investing and controlling lifestyle choices can play a bigger role in wealth creation than chasing a higher salary alone.

The power of consistent investing

Sharing what she called the real math behind wealth creation, Goel explained that a salaried person can potentially reach Rs 1 crore in 10 years with a 10% yearly salary hike and investment returns of around 12% to 15%. She stressed that this does not require an IIT degree or a wealthy family background, but rather discipline and long-term consistency.

According to Goel, once someone builds a Rs 1 crore corpus, it can generate around Rs 1 lakh in monthly passive income. She added that this amount could cover nearly 60% to 70% of a person's EMIs, creating a pathway towards financial freedom. Her message was not about earning a particular amount but about developing the discipline to retain and grow money over time. Goel ended by raising a question for people to reflect on: are they actually building wealth, or are they simply upgrading their lifestyle as their income grows?