An entrepreneur has sparked a discussion after claiming that many wealthy Indian parents are suffering from “untreated financial trauma” and continue to live with a “poverty mindset” despite having crores in assets.
Event Context
In a post on X, entrepreneur Prem Soni argued that many Indian parents continue to make financial decisions driven by fear, even after achieving financial security. “Your parents are suffering from untreated financial trauma,” he wrote.
Soni said that many parents “will sit on ₹5 crores of real estate and fixed deposits yet still walk in 40-degree Celsius heat and fight a street vendor to save ₹15 on tomatoes.” He argued that this behaviour is often described as “middle-class values” when it is actually “a poverty mindset they are absolutely terrified to outgrow.”
Match Outlook
The entrepreneur explained that many parents built their lives around survival because of the circumstances they faced and now expect their children to carry forward the same mindset.
“When they see you paying delivery charges or booking Urban Company, they don’t get angry because you are wasting just money. They get angry because your convenience makes their decades of unnecessary suffering look completely pointless,” he wrote.
He also argued that parents are only “temporary custodians” of their wealth and that the next generation should not feel guilty about using it to improve their quality of life.
“You are not disrespecting their legacy by valuing an hour of your time over ₹15 bus travel. You are actually fulfilling the purpose of the wealth they built. They have won in life,” he wrote.
“You cannot inherit generational wealth if you are forced to inherit the trauma of poverty along with it. Stop romanticizing their struggle, step into your role and unapologetically play your turn,” he added.
(Also Read: Man says Indian parenting should stop ‘romanticising struggle’ for Gen Z)
The post prompted mixed reactions from social media users.
One user agreed with Soni, writing, “So well said. Know someone with 10 cr wealth, 70, only one son, but they aren’t able to let go off the wealth or live better. They still haggle with fruit and veg vendors, and what not. I wish I cud tell them even with a swp of 4%, they’ll be very comfortable.”
Another user shared a contrasting experience, saying, “My parents made my grandparents come out of this mindset so me and my brother are lucky on this front where our mom-dad themselves opt for better luxury and comfort with cultivating habits sensible spending within us.”
Others, however, disagreed with the entrepreneur’s perspective.
“You can do all of that….. But first build something of your own. Our parents are scared of excessess. Most excessess are done by folks who inherit and diminish it down to zero. Our parents are smart enough to know when our income is fine to meet our comforts and luxaries,” one user commented.
“It’s just personal choice on how they want to lead their life. I believe let your parents live their life happily, whatever works for them, support them and be there for them. If you are having 5cr property, you don’t have financial issues, so all they need is happiness from kids,” said another.
“Your views are partly right but if they had spent their earnings and savings extravagantly then their kids will have nothing to inherit now,” wrote one user.
