Have you ever wondered what you would do if your deposit reached 800,000?Maybe you'll want to buy a house, or change your car, or go on a trip, or buy something for yourself and your family that you like.
But do you know how rare a group of people in China is a family with a deposit of 800,000?Do you know why they have so much money and why they are getting less and less?
According to central bank data1, as of October 2023, the total deposits of residents in the country were 1506 trillion yuan, of which 58 is fixed deposits8 trillion yuan, and demand deposits are 918 trillion yuan. Residents with deposits of more than 500,000 yuan account for only 0% of the total population37%, and the number of residents with deposits of more than 1 million yuan is even smaller, accounting for only 0 percent of the total population1%。
In other words, there are only about 1.4 million to 1.5 million households with savings of 800,000, accounting for less than 0% of the country's 500 million households03%。This is a very small percentage and a very special group.
So, who are these families whose deposits reach 800,000?What are their characteristics?Based on the experience of some bank relationship managers2, most of these families have the following things in common: they are older, generally over 50 years old, and some are even retired. Stable occupations, most of them are employees in the system, such as civil servants, teachers, doctors, soldiers, etc., with stable income and benefits. There are many real estates, generally at least two houses, and some even more, and they are all bought during the period of housing prices, enjoying the property dividend.
There are few children, generally only children, or only one child, and the investment in education is relatively small.
Consumption is low, generally do not pursue luxury, do not like to travel, do not buy cars, do not eat, drink and have fun, live frugally, and save money has become a Xi. Most of these families' savings are their accumulation over the years, and they are also their sense of security and security. They are not willing to take risks and invest and spend money to enjoy, they just want to save their money for a rainy day.
If these families have so much savings, why would they have fewer and fewer of them?Here are a few reasons: inflation. With the increase in prices, the purchasing power of the deposit will decrease, that is, with the same money, there will be less and less things that can be bought. The interest rate on bank deposits is far lower than the inflation rate, that is, the rate of increase in deposits is much slower than the rate of price growth. As a result, the deposit will become less and less valuable, and it will become less and less.
Taxation. As the country's fiscal needs come with increasing pressure on tax revenues. Deposits are also a type of income and are subject to corresponding taxes. For example, interest income tax is levied on deposit interest, which is generally at a rate of 20%. In this way, the net income of deposits will be greatly discounted, and it will become less and less.
Consume. With the development of society, the demand for consumption will also increase. For example, the education of children, the pension of the elderly, and their own medical care are all unavoidable expenses. And these expenses are getting higher and higher, far outpacing the increase in income. In this way, the deposit will be consumed and there will be fewer and less.
Families with savings of 800,000 yuan are a very rare phenomenon and a very special group. Their savings are the result of years of hard work and frugality, as well as their sense of security and security.
However, their savings are also facing multiple pressures such as inflation, taxation, and consumption, resulting in fewer and fewer savings, and may even disappear. This is a question worthy of our deep thought, and it is also a phenomenon worthy of our attention. What are your thoughts on this?