This Person is earning more than 50 lac per month.
Let me tell you about his background. This guy has no college degree first of all. He started his journey from his micro website on which he used to put some ads and generate around 2-3K per month. He enrolled for degree in pharmacy but failed, since his mind was not ready for this life. He then left the college and started research on digital marketing. After so many years of efforts he established an ad network (similar to google ad sense but on a smaller scale) soon he rocked with earning from nothing to around 10 crore per annum.
What I like about this guy is his simplicity. Though he can afford a BMW or Mercedes for him, he is still using his Apache bike. He is very humble as well.
Earning 50 lakhs per months amounts to an annual income of around 6 Crore INR. There are many senior executives, doctors, bankers and businessmen having that kind of income in India.
From Income Tax data available, the number of people in the 5 – 10 crore per annum income bracket who paid taxes for the financial year 2012 – 2013 was 18359 salaried individuals and 11868 businessmen. That is a total of 30227 individuals who earn around or more than 50 lakhs per month.
(Please note that only around 4.3% of the population paid taxes on their income for the said year so the numbers are only for those with a legal, tax paid income also, the current figures would be much higher.)
Now coming to the final part of your question, a 50 lakh per month income in India basically amounts to around 35 lakhs per month post tax.
The lifestyle is pretty simple, just that you can afford a much larger staff (2-3 drivers, 2 gardeners, a cook, a few guards and some other servants) to do most of the household stuff.
The vehicles you travel in get much better, so instead of the Marutis and Volkswagen’s you now have BMW’s, Mini Coopers and Porsche’s.
You can dine out at almost any place you like without worrying about the bill and you also have access to some exclusive lounges, venues and parties.
You shop in Zara, Louis Vuitton and Gucci instead of Lifestyle, Lee and Wrangler.
Most people I know who earn in that bracket have a huge amount of their income reinvested in various forms (money makes money) and are continuously growing their wealth and income.
Also, the lifestyle and choices vary, where I live cars and fashion seem to be the choice of spend, some choose to splurge on art, some on trips.
Basically earning that kind of money in India puts a whole new world within your reach and you can choose to do whatever you want without money being much of a factor.
A Businesses have two Petrol Pumps, six franchise garment showrooms in three different Malls, Car repair garage, Real Estate firm, two restaurants, Transportation & logistics firm, Car showroom, woolen factory, Theater and few more.
He keeps updated with new technologies. CCTV Camera are installed at every place. Payments and salaries are paid by me, all by net-banking. Three managers work under me, whom he have allotted the work. They directly contact me whenever any problem occurs. he try to visit each place at least once a week.
He started with one business. Made profit from it. Then invested in another and then another. This keep on going. All this took me 10 years. I am still interested in investing other sectors and keep thinking about them everyday.
He make every year after deducting all taxes, Around 5 Crore. Income of businessman is never fixed. Roughly he make 40 Lac per month. Profit can be more but he keep investing. The truth is he don’t count money. he just keep the track of it.
He go on three foreign trips every year. Each in Diwali, Summer and Christmas. Two of them with family and one with friends. His year ends with Sunburn Goa. He keep giving bonus to employees for their trust and believing me. I am not party freak or addicted to anything, though my children are.
Hehave two Farm-house, two bungalows, four Flats, ten Trucks (For Transportation business), six cars and few Two-Wheelers.
His son has his own credit Card. He has a bike and a Car. Now since he own petrol pump, clothing shop, Car show-room and garage, restaurant and theater, he never complains. For rest of the things, the person don’t say No. always keep track of his expenses. he have strictly ordered his son to make every payment above Rs 500 by credit card. So that he can know his sons whereabouts. About his wife, he have no idea. She spends or save, he never interfere. All he can say is, the brand’s my wife use, he don’t know about them.
He love doing business!
Spending part is secondary.
My Friend’s father earned more than 6 crore per annum.
He had his business abroad while we lived in India and he traveled twice a month to check on his businesses.
Now his father didn’t always earn so much, so clearly I can tell the difference.
- you never have to worry about your future
- You can holiday whenever you want and wherever you want. In fact my sister and I went to weekend shopping trips to Singapore or Dubai every month.
- You have the best of gadgets at your disposal
- Foreign education is no problem. In fact my brother changed his field of study twice (2 years and 2 years tuition fee wasted).
- You can indulge in expensive hobbies (I learnt to fly a helicopter)
- You have servants to do the most simplest of things for you
- You can buy as much property as you please
- You can buy front row tickets to almost any gala (Bollywood, rock shows, etc)
- You don’t have to work, if you don’t want to
- You can take risks, setting up your business venture.
Some things that don’t change
- you still eat the same food (maybe different preparations)
- You breathe the same air
- You still have the same family (OK, maybe you discover newer family members)
- You still are the same person, your values and belief system don’t change
That kind of money makes your life more comfortable, but doesn’t change everything
Bangalore – This is about my Brother-in-law’s cousin
Her dad owns an industry in Bangalore. Their net income is more than 100 crores per annum. She did her Industrial engineering in Bangalore and went to NYC for MS. After which she came back and is taking care of her family business. She has travelled the world over. Been to a lot of exotic locations.
They have a battalion of cars. Here’s the list.
- Black Audi A4 and A6.
- White Audi Q5 and Q7.
- White Audi TT.
- She even got a Merc sedan for her 21st birthday.
- This New year they bought 4 cars on a single day. 2 Merc SUVs, a BMW 530d and a Jaguar.
She works out in one of the poshest gyms in the city. She is super fit and is very beautiful. Way better looking than a lot of Bollywood actresses. She doesn’t have to think twice before buying anything. She eats at the best restaurants in town. Her Instagram is filled with pics of food and awesome destinations. Her work out videos and pics are really motivational.
She has a closet full of the best dresses and oh my! Shoes. Racks of them. She also has a collection of Louis Vuitton bags. Not to mention the latest gadgets( iPhone 6S etc). Once she went to Mac cosmetics store in Orion mall and bought products worth 45k.
She stays in the best 5 star hotel whenever she goes out of town and travels First class always. Her dress sense is remarkable and she has her own designers. Her routine is usually wake-up, hit the gym, get ready, go to her industry, see through the daily affairs, come back home in the afternoon, take a nap and head out to meet friends. Weekends are for partying of course.
Her lifestyle is really inspiring and one would definitely dream of such a lifestyle. Inspite of being super rich, she is extremely down to Earth and doesn’t have one bit of ego. Looking at her, yes , it definitely feels awesome to be having such a humongous income. You wouldn’t have any problem with regard to finances.
PS: She recently got engaged to her childhood sweetheart 🙂