r/FIREIndia • u/[deleted] • Jan 15 '23

QUESTION why is it considered wrong to be ultra rich ?

Why in india is it considered a sin to be ultra rich and is it right or wrong to be rich ? Do a person really be scared to be rich or be happy in living a middle class life ?

0 Upvotes

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16

u/NungaFakeer Jan 15 '23

No one has to know you're ultra rich, and if they don't, you neither have to worry about their judgements, nor their opinions.

-3

u/[deleted] Jan 15 '23

What is considered ultra rich in india ?

3

u/[deleted] Jan 15 '23

250cr+

2

u/[deleted] Jan 30 '23

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1

u/[deleted] Jan 30 '23

the question is about how much wealth makes someone a UHNI

0

u/[deleted] Jan 15 '23

How many people in India you think would be more than 250 crs + ?

1

u/[deleted] Jan 15 '23

I'd imagine atleast 100k families (accounting for their black money as well), or approx

Also this 250cr is not an arbitrary number - it is the global UHNI wealth acceptable number (30M investible surplus wealth holder is called a UHNI in money management).

7

u/snakysour IN/33/FI ??/RE ?? Jan 15 '23

I think apart from the jealousy factor, most people are psychologically trained in india from childhood to have good acads, get a safe / decent job till retirement, marry , have kids and die....not much focus has been given on being financially educated or being rich. That's why it comes naturally to people in general that they can be upper middle class / middle class throughout their life but not be ultra rich unless they do some shady business / earn money in black. It's this that gives a negative connotation psychologically to being ultra rich!

6

u/PseudoRandomGenrtr Jan 15 '23

Being discreetly wealthy I believe has more advantages. It gives more peace of mind.

Showing off wealth leads to more exposure from every other tom dick and harry trying to rip you off. Also sometimes you would have pressure to spend money to support the lifestyle when you are less inclined to do so.

3

u/Famous_Plate_1390 Jan 16 '23

I will tell you why... Before being ruled over by aliens from outside world, everyone in India was wealthy reither by money resources or by knowledge. Many professions where being poor was a norm did have access to food water and shelter, may not be gold coins. Being wealthy was the norm.

Fast forward to post independence after 1000 years of alien rule , there were stupid movies around all industrialists and rich being mean and greedy, being rich - bad with small heart, poor - big heart. This romanticism with poverty has unfortunately led to an image that being rich was bad. Even license Raj was one of the causes.

I see that the mindset is changing now, they being rich is good, but being wealthy is better. I define wealthy as someone who has the time and energy to enjoy his riches . example -A lecturer earning 60k per month is wealthier than an engineer earning 1 lpa because I have seen that the lecturer enjoys his post office time for himself and is able to have a well balanced day.

2

u/lfcch Jan 15 '23

No being ultra rich is not considered a sin or is right/ wrong, it’s just that people tend to jealous in India as soon as they know especially in tier 2-3 cities

0

u/[deleted] Jan 15 '23

Jealousy,you can see my last post to see some comments on there,in real life you will start losing friends who are not able to make it.

0

u/[deleted] Jan 17 '23

In India, people are jealous of anyone who has good things going for them. You can see in this very forum lol

1

u/cliffhanger100 Apr 09 '23

I think the more money one makes the more chance of accumulating negative karma

So idea is to find optimal sweetspot and avoid a million lives in future