How much savings do Chinese families need to be considered rich?This issue has always attracted the attention of the public. Recently, an industry expert revealed this mystery, let's do it together!
First of all, we have to understand that there is no fixed definition of the so-called wealthy family. This criterion varies from city to city and region to region. According to the actual situation in China, we can divide wealthy families into several levels: first-tier cities, such as Beijing, Shanghai, etc. Second-tier cities, such as Hangzhou, Wuhan, etc. Tier 3 cities and other smaller towns. Professionals point out that the savings standards of wealthy households vary from city to city
The latest data shows that wealthy households in first-tier cities usually have at least 5 million yuan in savings. While this may seem like a startling figure, it's not too surprising given the high housing prices and cost of living in first-tier cities. In second-tier cities, the savings standard for wealthy households is relatively relaxed, ranging from 2 million yuan to 5 million yuan. While this amount is still considerable, housing prices and cost of living are generally lower in these cities compared to first-tier cities. In third-tier cities and below, in third-tier cities and smaller towns, wealthy households generally have savings between $1 million and $2 million. 
Although this is lower than the standard of first- and second-tier cities, it still shows some economic strength given the lower housing prices and cost of living in the region. We must recognise that these deposit criteria are not absolute. Everyone's Xi habits, consumption concepts and family backgrounds are different, so the true standard of affluence should be set by each family itself. Some people believe that a savings that are sufficient to cope with living expenses and emergencies in the next few years while achieving certain financial goals is considered wealthy;Others believe that owning a property, a car, and a certain amount of investment income is what makes you truly wealthy. In addition to savings, there are other criteria to measure whether a family is wealthy, such as income, assets, and investment returns.
At the same time, family happiness, physical health, and mental satisfaction are also important indicators of wealth. We should be rational about the measurement of family wealth, and should not blindly pursue material wealth while ignoring the happiness and health of the family. At the same time, make appropriate family financial plans according to your actual situation to improve your quality of life.