A Gurugram-based finance influencer, Sumit Behal has kick started a debate on social media, he has claimed that Rs 5 crore isn’t enough for anyone to retire comfortably in India. Behal’s statement has initiated a conversation about salaries and net worth. On social media Behal posted, “You cannot retire on 5 Crore in India.” This post has gone viral within 24 hours, this post has received 2 lakh views and more than a dozen of comments. However, he did not clarify whether he was talking about total net work or just the liquid assets.
How did social media users react to the Sumit’s Rs 5 Cr claim?
Some social media users did not agree with Behal’s take, they pointed out that the cost of living depends on the lifestyle and how the person spends. One user wrote, “If one has own house and 2 kids or less, 5 crore is more than enough if asset allocation is proper or bucket strategy is followed. If one does not have their own house and wants to buy one, it is a different story…” Another person writes, “One can retire with that amount. What is more challenging is medical cost. That’s a grey area. Hence keep working,”. Some agreed with Sumit stating that Rs 5 crore retirement would work in a tier-3 city but, in Tier-1 and Tier-2 cities, it is extremely tough,”.
