New Delhi, Oct. 2 -- A person with Rs.50 lakh annual salary, a BMW, a Gurgaon flat, and International vacations might sound like a success story; but this image of "rich on paper" often means "broke in reality", shared Priya Jain, a Sebi-registered research analyst, taking inspiration from her daily encounters.

In a LinkedIn post, Jain explained how extravagant lifestyles and a lack of financial planning can lead to debt traps that plague high-earning professionals in India.

Jain shared an analysis in which she detailed the life of a fictional person who earns Rs.50 lakh annually but carries a burden of Rs.60 lakh in loans.

The case highlights the life of a character named Priya who works as a software engineer, drives a BMW, which she...