Why savings can never be enough: Ankur Warikoo's 3 big money lessons that bust financial myths

Conversations around money often carry long-standing assumptions that shape how people earn, spend, and save. From being told that wealth is the source of problems to believing that rich individuals are inherently corrupt, financial wisdom passed down through generations has been filled with half-truths. Another widespread belief is that saving alone is the key to security, a notion many discover too late is incomplete. Entrepreneur and author Ankur Warikoo, through a detailed post on LinkedIn, challenged these common ideas by breaking down three money myths that continue to influence the way people think about wealth.

Money Is Not the Enemy

One of the oldest beliefs is that money is the root cause of all problems. Many grow up in an environment where conversations about wealth are discouraged, and associating with money is considered wrong. Warikoo pointed out that money itself is not harmful—it is simply a medium of exchange. According to him, the real issue arises when people attach emotions and excessive importance to it. Just as with any other aspect of life, when money takes control of one’s mindset, it can become overwhelming.


Rethinking the Idea of Wealthy Individuals

Another myth Warikoo addressed is the assumption that rich people are inherently dishonest or exploitative. In popular narratives, wealth is often linked to corruption, manipulation, or moral compromises. However, Warikoo emphasized that while unethical examples exist, they represent only a fraction of reality. He noted that most wealthy people quietly build their success while respecting money, people, and values. Unfortunately, such stories rarely make headlines, as news often highlights extreme or negative cases rather than everyday examples of honest success.

Why Saving Alone Falls Short

The third major misconception, according to Warikoo, is the belief that saving money is enough to secure the future. While saving is necessary, he explained that it cannot create real wealth. He highlighted how many in the older generation relied solely on savings, particularly during events like demonetization, when stored cash came into light. Although their discipline was appreciated, Warikoo pointed out that money left idle eventually loses value because of inflation. The missing lesson for most people has been the importance of investing—putting money to work so that it grows over time.


Beyond Myths: The Real Role of Money

Concluding his perspective, Warikoo noted that money itself does not define character. Instead, it magnifies what already exists within a person. For those who respect it and manage it wisely, money becomes a tool for growth. For others who misuse it, the negative side becomes more visible.

Through these lessons, Warikoo urges individuals to re-examine their beliefs and understand that wealth-building requires awareness, balance, and the courage to look beyond outdated financial myths.


( Originally published on Sep 03, 2025 )