Latest news with #Achuthan
Economic Times
2 days ago
- Business
- Economic Times
Bengaluru founder explains how some middle-class people are silently building big wealth, without you even noticing
Bengaluru tech founder raises concerns over the middle-class's spending habits. (Pic credit- istock. Image used for representative purpose only) Once considered the steady backbone of Indian society, the middle class is now standing at a financial crossroads. In a viral LinkedIn post, Bengaluru-based founder Shyam Achuthan paints a sobering picture of a group that was once defined by upward mobility — steady jobs, small luxuries, and the dream of a home — but is now teetering between two stark outcomes: growing wealthy or going broke. There's no middle ground anymore, he argues — and many are unknowingly choosing the wrong path. However, he points out that some are silently building wealth by making the correct choices. Achuthan highlights a growing trend of financial self-sabotage among the modern middle class. With Instagram-worthy lifestyles and EMIs eating up salaries, many are living to impress, not to improve. A Rs 50,000 salary vanishes fast when Rs 20,000 goes to rent, Rs 10,000 to EMIs, and weekend spending tops Rs 5,000, leaving little to nothing for real savings. It's a cycle of looking rich while staying broke, or worse, heading into debt. But not everyone is playing this dangerous game. A smaller, quieter segment of the middle class is making radically different choices — avoiding flashy purchases, skipping big weddings, choosing used cars, and investing aggressively. They might not look successful today, but they're building wealth that will outlast trends and timelines. While one half of the middle class flexes for likes, the other is compounding gains for long-term to keep up with the rich on a middle-class paycheck, Achuthan warns, is like entering an F1 race with a scooter. Sooner or later, you'll burn out. In today's world of inflation, layoffs, and AI disruptions, the divide is widening fast, and only those who act intentionally will move up. His advice is simple but urgent: cut lifestyle inflation, track every rupee, invest 20–30% of your income, and focus on building assets, not liabilities. Above all, learn about money — don't just earn it. The middle class isn't just shrinking — it's splitting. And the choices you make today will decide which direction you take tomorrow. One user reflected on how the modern rat race often leads people astray, emphasizing that while flashy lifestyles may gain attention, it's the smart and strategic choices that truly matter in the long run. Another appreciated Shyam Achuthan's perspective on middle-class struggles, praising his insight into how social media-driven lifestyles are eroding financial security. They highlighted the power of disciplined saving and investing—like putting aside 20–30% of one's salary and tracking every expense—as the real game-changer for the future. ( Originally published on Jun 30, 2025 )
News18
2 days ago
- Business
- News18
‘You'll Either Be Rich Or Poor In 10 Years': Startup Founder's Stark Message to India's Middle Class
Last Updated: Tech founder Shyam Achuthan says India's middle class is at a tipping point, between quietly building wealth or slipping into financial illusion. India's middle class, once known for its steady jobs, modest homes, cars and yearly vacations, is undergoing a major shift. Tech entrepreneur Shyam Achuthan believes the real divide today isn't between the rich and the poor — it's between those pretending to be wealthy and those quietly building real wealth. In a powerful LinkedIn post, Achuthan cautioned, 'The middle-class today stands at a critical juncture — headed either toward financial freedom or financial stress. There's no middle ground left." The Illusion of Wealth Achuthan believes that a large section of the middle class is chasing a social-media-driven lifestyle, often at the cost of their long-term financial security. 'From EMI-loaded iPhones to overpriced brunches, today's middle class is desperate to look rich, not be rich," he wrote. This drive to project affluence, often fuelled by credit cards, BNPL schemes and lifestyle loans, can mask an unstable financial reality. Instead of focusing on savings and investments, many are prioritising aesthetic appearances and momentary validation. Smart People Playing Differently On the other side, Achuthan points to a quieter, more deliberate approach. 'Some people in the middle class are doing something strange and powerful," he noted. These individuals aren't sacrificing joy—they're making smarter decisions: taking the metro instead of buying a car, avoiding lifestyle inflation and investing consistently. 'They may look poor now, but their money is quietly working overtime — in mutual funds, stocks, real estate and startups. In 10 years, they'll own what others are still renting," he adds. His starkest comparison? 'Trying to keep up with the rich using a middle-class salary is like bringing a scooter to an F1 race." Stop upgrading your lifestyle every time your income increases; save the extra instead. Track Every Rupee You Spend Maintain a budget and monitor expenses closely to avoid unnecessary leaks in your finances. Invest 20–30 per cent of What You Earn Put a fixed portion of your income into growth-oriented assets like mutual funds or stocks. Build Assets, Not Liabilities Buy things that generate value over time, avoid debt traps and non-essential EMIs. Learn Financial Literacy, Not Just Income Skills Understanding how money works is just as crucial as earning it. Educate yourself on saving, investing, and compounding. With rising living costs, increasing debt, and a volatile economy, Achuthan's message serves as a reality check: the middle class must adapt, or risk being left behind. The choice is clear—fake wealth today and struggle tomorrow, or quietly build it and own the future. First Published:
Time of India
3 days ago
- Business
- Time of India
Bengaluru founder explains how some middle-class people are silently building big wealth, without you even noticing
Once considered the steady backbone of Indian society, the middle class is now standing at a financial crossroads. In a viral LinkedIn post, Bengaluru-based founder Shyam Achuthan paints a sobering picture of a group that was once defined by upward mobility — steady jobs, small luxuries, and the dream of a home — but is now teetering between two stark outcomes: growing wealthy or going broke. There's no middle ground anymore, he argues — and many are unknowingly choosing the wrong path. However, he points out that some are silently building wealth by making the correct choices. Achuthan highlights a growing trend of financial self-sabotage among the modern middle class. With Instagram-worthy lifestyles and EMIs eating up salaries, many are living to impress, not to improve. A Rs 50,000 salary vanishes fast when Rs 20,000 goes to rent, Rs 10,000 to EMIs, and weekend spending tops Rs 5,000, leaving little to nothing for real savings. It's a cycle of looking rich while staying broke, or worse, heading into debt. But not everyone is playing this dangerous game. A smaller, quieter segment of the middle class is making radically different choices — avoiding flashy purchases, skipping big weddings, choosing used cars, and investing aggressively. They might not look successful today, but they're building wealth that will outlast trends and timelines. While one half of the middle class flexes for likes, the other is compounding gains for long-term freedom. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like I Babysat My Grandkids Daily for Free. Then My Son Said I Was Owed Nothing, So I Snapped Back Beach Raider Undo Trying to keep up with the rich on a middle-class paycheck, Achuthan warns, is like entering an F1 race with a scooter. Sooner or later, you'll burn out. In today's world of inflation, layoffs, and AI disruptions, the divide is widening fast, and only those who act intentionally will move up. His advice is simple but urgent: cut lifestyle inflation , track every rupee, invest 20–30% of your income, and focus on building assets, not liabilities. Above all, learn about money — don't just earn it. The middle class isn't just shrinking — it's splitting. And the choices you make today will decide which direction you take tomorrow.
Yahoo
11-02-2025
- Business
- Yahoo
Convalt sued by Jefferson County Industrial Development Agency over unpaid $1.05 million loan
Feb. 10—WATERTOWN — The Jefferson County Industrial Development Agency has filed a lawsuit against Convalt Energy for failing to pay a $1,050,00 loan. On Monday, the JCIDA filed papers in state Supreme Court on the $1.05 million lawsuit alleging that Convalt failed to pay back a loan for constructing a 300,000-square-foot solar manufacturing plant on land that the economic development agency owns near the Watertown International Airport in the town of Hounsfield. In November, the JCIDA and Convalt parted ways after the company failed to fulfill its obligations on a land development agreement to build on the 88-acre site on Route 12F. According to the court papers, Convalt has defaulted on the loan. Marshall Weir, the JCIDA's CEO, declined to comment on the legal action against the company. "I really can't say anything at this point," he said. The JCIDA board talked about the lawsuit during a lengthy executive session at Thursday's February meeting. Contacted by phone on Monday afternoon, company president Hari Achuthan declined to comment, saying he was unaware the lawsuit was filed. "I have no idea," he said. "Maybe they did. I don't know. They did not notify us." According to court papers, Convalt failed to pay on the construction costs at the site, legal fees, costs and disbursements, "despite demands" by the JCIDA. The legal papers list Convalt Energy, Convalt Manufacturing LLC, Acco Investment Group and Achuthan as defendants. The JCIDA has learned that Achuthan is now seeking to build the solar manufacturing plant in Colorado Springs. Six weeks ago, Convalt was awarded $6.25 million in funding from the Colorado Economic Development Commission to build the plant there. Achuthan has promised to pay back the loan to the JCIDA. The project was once billed as the largest economic development project in Jefferson County's history. The JCIDA board decided in November not to renew the land development agreement after continued delays. Plans were announced in February 2021 for Convalt, then a New York City-based renewable energy company, to invest $650 million in the project that would manufacture solar panels, initially creating hundreds of jobs but projected to employ thousands over time. A sister company, DigiCollect, would also build a facility in the airport industrial park. Achuthan has blamed a glut of solar products into the U.S. from China and deep cuts in product prices, harming the feasibility of the large project. He has also indicated that it was taking more time to obtain financing for the project.
