MobiKwik's Chief Executive Officer (CEO) Bipin Preet Singh has shared a candid financial revelation, according to a Hindustan Times report, disclosing that his personal savings remained under Rs 1 crore even at age 40, a stark contrast to the wealth expectations promoted by today's financial influencers.
The IIT Delhi alumnus made these comments while supporting Sensibull CEO Abid Hassan's criticism of social media personalities who present multi-crore wealth targets as easily attainable goals for young Indians.
Skills over quick money
Singh emphasised that young professionals should prioritise meaningful work and skill enhancement rather than falling prey to get-rich-quick schemes.
"Young need to focus on impact and their calling in life the money will follow," he stated on social media platform X, drawing from his own journey to entrepreneurial success.
The MobiKwik founder acknowledged the importance of systematic saving and investment plans (SIPs), but getting rich should not be their first goal. "Yes do save and do the SIP but that should be your side show," Singh advised, suggesting that career growth and personal development should take precedence over getting rich quickly.
Industry leaders unite
Abid Hassan had initially raised concerns about how modern influencers casually discuss Rs 10-20 crore amounts, potentially creating self-doubt and insecurity, which leads to scams and questionable financial outcomes.
The discussion gained traction across social media, with users debating the balance between financial ambition and realistic goal-setting.
One user posted on X, “Problem isn’t 10–20 Cr being aspirational. The problem is influencers making it sound like pocket change to sell you dreams.”
Other highlighted, “Money isn't everything. Some of the happiest people I know earn modest incomes but have rich lives full of meaning”.
The conversation highlighted growing concerns about the FIRE (Financial Independence, Retire Early) dream among young Indians and the growing trend of get-rich-quick content in the digital space.