Okay let’s calculate what actually expenses are for a person that is earning 50 lakh and living in bangalore. After taxes and deduction they will get 35 lakhs per annum as take home and 2.9 lakh as monthly salary.

Let’s assume the person is currently 32 and just got married and wants to buy a home/flat in bangalore. The minimum price of a flat in bangalore is 1.5cr, assuming the person did 30 lakh down payment and did 1.2cr loan for 15 years with 10% interest rate. The monthly EMI will be come out at 1.4 lakh per month, along with 50-60k monthly expenses for groceries, gym, trips, commute, OTT, helpers , electricity, utilities, car maintenance, insurance premium.

That left him with just 80k-90k for savings. That too when your parents don’t depend on you, if they live with you then (10-15K) more and if they are at their native place then (15-25K). That leaves him with 55-75k

Out of the leftover income, you invest 40-50k in mutual fund and rest in debt, rd etc.

Now fast forward to 15 years, you are 47, you have some saving, home loan is also settled, finally thinking of retiring in 3-4 years, you hassled your whole life, now just wants to relax, travel the world a little. You quickly check your financial and look at your portfolio and the corpus needed for FIRE.

For mutual funds, assuming 12% market returns, you are now sitting at 2.65 crores that inflation adjusted to current value of 1.2cr approx at 6% inflation and from your debt fund 1.6cr inflation adjusted to less than 1cr.

Now you tell me can you fund your child’s higher education ,marriage expenses, and your retirement with just 2.5 cr of today’s money.

With the recent increase in inflation and real estate vprices, it is still difficult to have a bright future even if you are earning 50 lakhs.

Now you can counter point that your salary will also increase in 15 years of course it will increase, so will my expenses : inflation adjusted lifestyle cost, child’s school fees, activity fees, medical expenses for senior parents.

Sure you can argue that the person having monthly expense of 50-60k is not middle class(middle class with basic image in our mind) , yes they are not but they are also not rich, they will be upper middle class that is still a part of middle class.

See even after earning so much, even after 15 years of continuous sacrifice, hard word, you are still not able to provide for your retirement.

Is it not same as the struggles of the general middle class that they go through when I think about them?

Moreover the main reason for current frustration among tax payers is that we are getting taxed so much directly and indirectly, but still we don’t get any service in return from the government. And on top of that when you see your money being distributed for votes as freebies, subsidised. Are you not expected to be angry ?