Many of us know “Richie Rich”. But how many of us know “Richie Poor”?

This guy “Richie Poor” is the father of a techie guy working for an IT company in India with a salary of Rs.1 lakh per month (with this salary, you can buy at least 80 grams of 22 carat gold in today’s market).

Why is he “Richie Poor”?
This question has two parts:

First, “why is he Rich”:
When he was young, he bought two grounds of land near a city in India with his salary from Government job. Today that ground is worth Rs.2 crores (in b&w market) and Rs.1.2 crores as per govt. guideline value. Assume that today this old man sells the land at “govt rate” and puts the money in bank for 10% interest. Then, he will get at least Rs.1 lakh per month from interest alone. Isn’t this guy rich?

Second, “why is he poor”:
Even though he has a potential of getting Rs. 1 lakh per month from his own property, since he didn’t sell the land (because it is where he lives in his old house), he just survives with his pension amount of Rs.2,000/-pm and Rs.3,000/-pm from his “rich son” who has a luxurious apartment, luxurious car and luxurious life style. Comparatively he gets only 5% of what his son gets every month to lead his simple life. Isn’t he poor?

There are many such old people in India who are “Richie Poor”.

What will you become when you are old? Richie Rich or Richie Poor?