How Much Might An Affluent Lifestyle Cost in India ?
May 13, 2012 Leave a comment
In this post here:http://expertscolumn.com/content/rich-india ,the author writes that ‘the defination of proverty enunciated by the governments own man,the clown Montek Singh as Rs 28 per day. The affluent normally spend 25 times this amount everyday or even more.’This got me interested and I decided to do some basic math.Here are the results:
An affluent person spends atleast 700 rupees a day.
He/She spends atleast 21,000 rupees in a 30 day month.
This works out to an expenditure of atleast 2.55 lakh rupees per affluent person a year.
Also an affluent family of four would spend atleast 84,000 rupees a month and 10.22 lacs per year.
Are these families wealthy?Probably not all.But they definitely have a decent income and/or access to consumer credit.They have money and a willingness to spend it on living it up now.
Stock timing can help us eek out a little something more from our investments.The following insights with respect to a few popular Indian stocks should help us time our entries/exits better.I have culled them from here:
In India,as in other parts of the world, many people believe that migrating to the US is a sure shot way to wealth.Ofcourse,given the exchange rates, earning in USDs, or for that matter in GBPs,Euros,CHFs,CADs,AUDs,SGDs might make a person very rich in rupee terms.But expenses to maintain the living standards a person might take for granted in India,such as house help will use up a large part of one’s dollar earnings.Then the investment options available are entirely different and steeper taxes eat into one’s wealth.
wealthymatters 