MobiKwik CEO says he had under Rs 1 crore savings at 40, warns young people against unrealistic money goals

Following Hassan’s comments, Bipin Preet Singh, co-founder and CEO of MobiKwik and an alumnus of IIT Delhi, shared his own financial story.

A growing backlash is forming against finance influencers who tout sensational wealth targets—such as reaching Rs 10 crore or Rs 20 crore within a short time frame—as authorities warn of harmful consequences for vulnerable young investors.

Abid Hassan, co-founder and CEO of Sensibull, openly condemned influencers who glamorise such lofty goals through social media. In a pointed LinkedIn post, Hassan highlighted that sums like Rs 10 crore and Rs 20 crore remain life-changing amounts for most Indians—even among the upper middle class—and should not be treated as casual benchmarks. He asserted that influencers frequently weaponise financial aspirations to sow insecurity, ultimately pushing their paid courses and scheming products.

Following Hassan’s comments, Bipin Preet Singh, co-founder and CEO of MobiKwik and an alumnus of IIT Delhi, shared his own financial story. By the age of 40, Singh revealed his personal savings had been under Rs 1 crore, but assured that the outcome had turned out well.

He stressed that career success was never contingent on hitting arbitrary numerical goals. Instead, he encouraged focusing on impact and purpose. In his words: “Well said! Young people need to focus on impact and their calling in life. The money will follow. Just FYI, till the age of 40, my savings were less than Rs 1 crore, and it’s worked out fine.” “Yes, do save and invest via SIPs—but that should be your side show.”

Well said ! Young need to focus on impact and their calling in life the money will follow. Just FYI till the age of 40 my savings were less than Rs 1 crore and its worked out fine. Yes do save and do the SIP but that should be your side show. https://t.co/N9IJoHRuqG

— Bipin Preet Singh (@BipinSingh) August 19, 2025

In a broader context, financial advisors registered with India’s securities regulator have also issued warnings. One SEBI-registered investment adviser criticised certain “finfluencers” for espousing click-bait narratives that mislead retail investors into high-risk decisions.

Online, individuals responded positively to the candid insights from these business leaders. One remark read: “Money isn’t everything. Some of the happiest people I know earn modest incomes but have rich lives full of meaning.”

Another user praised the post for cutting through the hype: “Exceptionally well put. In a world increasingly driven by noise and unrealistic benchmarks, this is a much-needed reminder. Financial milestones are personal, and the journey matters far more than performative comparisons.”

A third comment called out the exploitative nature of influencer culture: “The problem isn’t Rs 10–20 crore being aspirational. The problem is influencers making it sound like pocket change to sell you dreams. Same playbook that makes people feel ashamed of small homes, simple trips, or modest dinners. The middle class gets trapped chasing fake riches.”