No 'status pressure': Bengaluru man builds Rs 1 cr corpus with frugal life

Former proofreader says in Reddit post he has never taken a loan or owned a credit card as part of financial discipline

A 53-year-old man in Bengaluru says he built a savings pool of over Rs 1 crore through discipline and eschewing “status pressure”. The former proofreader anonymously posted his money-management story on Reddit as ‘Srikavig’, drawing more than 200 comments and 1,000 up votes.

From Rs 4,200 salary to Rs 1 crore

 

Srikavig says he moved “from a small village in South India” to Bengaluru in 2000 with Rs 5,000 in hand. Starting with a salary of Rs 4,200, his last drawn income was around Rs 63,000 before he stopped working in early 2020 due to poor eyesight.

 

Over 25 years, he steadily put aside money, building:

 

 

• Rs 1.01 crore in bank fixed deposits 
• Rs 65,000 in equities 
• Zero debt, never having used loans or credit cards 
• Living below means

 

His family of three lives in a rented one-bedroom house on the outskirts of Bengaluru, paying Rs 6,500 as rent. The family caps their monthly at about Rs 25,000 and they have changed homes only four times in 25 years, keeping cordial ties with landlords.

 

Srikavig said he has never owned a car and walks due to his poor vision and as a lifestyle choice. His health-conscious routine allows him to still walk or jog 5 km without difficulty.

Passive income and financial stability

 

By placing money in non-cumulative fixed deposits, he ensures a monthly passive income of around Rs 60,000. This more than covers his family’s needs and allows him to reinvest the surplus. His daughter has recently started working and contributes to the family’s savings.

Lessons for savers

 

The Redditor credits his financial security to patience, discipline, and health. In his own words, “education, intelligence, health and time are one’s big assets.” He noted that living in modest neighbourhoods, away from “status pressure”, helped him save money.

 

His story underlines key personal finance principles:

 

• Start small, but stay consistent with savings 
• Avoid debt traps and lifestyle inflation 
• Prioritise health and low-cost living 
• Let compound interest and steady investing work over time