Radhika Gupta of Edelweiss says she doesn’t own a luxury car. “I own an Innova…”

Radhika Gupta, CEO of Edelweiss Mutual Fund, revealed that she doesn’t own a luxury car even though she can afford it. Radhika Gupta said that a luxury car is a depreciating asset, which bothers her, and revealed that she currently owns an Innova.

Radhika Gupta reflected on the podcast that she grew up in a middle-class family that didn’t own luxury or designer items, which made her feel insecure at first, but now she said she doesn’t feel the need to prove her worth to others by buying expensive things.

“I can’t bring myself to buy a luxury car. I can afford it but I can’t. Every time I say to myself, ‘I’m going to get a bonus so I’m going to buy a luxury car’ I think of a car as a depreciating asset. I don’t drive it and it loses 30 per cent of its value just by driving it out of the house,” she said.

Explaining how his relationship with money has changed over the past two decades, the Edelweiss MF president said, “When I graduated from college 18 years ago, I used to feel insecure when people would ask me, ‘Oh! Don’t you have a fancy handbag?’ Now, if someone asks me, ‘Why do you drive an Innova?’ I can say, ‘My home, my life.’ I think it’s because I have nothing to prove (to anyone).”