The people in the bank with millions in the bank are not what you think

Mondo Finance Updated on 2024-01-31

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"Millionaire" used to be the envy of others, and many years ago there were very few people with millions of dollars, precisely because its scarcity is a term that refers to more than just "affluence", but has been given more meaning.

However, at that time, people with more than one million deposits in the bank usually did not give the first impression of "rich", nor did they necessarily call the high-profile posture of "millions of deposits", on the contrary, no matter how much food and clothing they ate, they were not much different from ordinary people, making it difficult to distinguish.

Of course, this is also inseparable from the limited material conditions at that time, even if the bank deposit reached seven figures, it was not possible to buy luxury goods in China that far exceeded the living standards of most people, so from this point of view, it may not be that they do not want to "show off their wealth", but that they lack a platform.

There is another reason why the "millionaire" is unknown, and that is the underdevelopment of information circulation. In the era of newspapers and television, the legends of the rich were usually not disseminated on a large scale, and only stayed in the impression of people in the vicinity.

In addition, China has had the concept of "wealth is not exposed" since ancient times, which has also made many people who have earned millions of savings by virtue of their ability and opportunity to deliberately dilute and low-key their daily expenses, which has also caused many "millionaires" to be unknown.

However, compared with the low-key of China's rich, foreign "millionaires" live a luxurious life that everyone envies. We originally thought that the environment abroad that is not afraid of showing off, and the more "showing off wealth", the more respectable people are, is due to the culture of different countries.

However, when China's economy has grown by leaps and bounds and reached a high level, we suddenly found that in today's era, "showing off wealth" is no longer a thing that violates common sense, but on the contrary, it will bring unexpected benefits.

It can be seen that the difference between introverted and extroverted because of cultural differences is not the decisive factor that determines that flaunting wealth can become the mainstream, and when the economy develops to a certain extent, such behavior will inevitably become the norm and be overshadowed by "business".

Today's "millionaires" are no longer "worthy" to show off, but a million on the Internet can no longer cause people to exclaim. In today's tens of millions, hundreds of millions of dollars in sales and annual income, the "seven figures" seem to be just "a small amount of money".

The generalization of this concept is inseparable from the bubble of today's consumption concept. Imagine that when a person buys a house with a market value of more than one million by paying a down payment and a bank loan, in a sense, his assets have exceeded one million.

And there are not a few such Chinese people, which means that there may be countless people in China who are "millionaires" with assets of millions. Living in a "million-dollar mansion" and driving hundreds of thousands of cars, it seems normal to think that a million is not too much.

What's more, when value becomes a means of packaging, the number often becomes the bigger the better label. Looking at the current "successful people", "worth tens of millions" can only be regarded as an entry-level level, which of the bigwigs is not "worth hundreds of millions"?

However, at a time when the whole people are advocating huge numbers, there are still many sober people who point out that "assets over one million" and "deposits over one million" are two completely different concepts, and the difference between the two is quite huge.

After all, most people still need to buy a house, and saving millions of dollars usually means that they have to get rid of the necessary cars and houses, and the liquidity in hand has reached seven figures, and the people who can have such a huge amount of cash are still a minority after all.

The slowdown in the growth of housing prices also means that the crazy rapid appreciation of personal assets has become impossible for a long time to come. On the contrary, most people have to work hard to pay off their home loans.

It can be concluded that even if the bank deposit exceeds one million, but people who have not bought a house and have plans to buy a house in the future will inevitably encounter the process of converting their deposits into assets, which cannot be regarded as "saving more than one million" in the strict sense.

According to the statistics of China's banking system, although the figures change every year, the number of individuals and households with bank deposits exceeding one million in China has generally remained at the level of less than 50 million.

From the perspective of a total population of more than one billion, this figure is roughly equivalent to three percent. If a person has a stable deposit of one million in the bank, then he has surpassed the vast majority of Chinese people and belongs to the group of "pyramid tip".

So if you want to define what a person with a bank deposit of millions looks like, the first thing that needs to be defined is the concept of "deposit million". When measured by real gold ** that is not mixed with any water, it is undoubtedly the rich who meet this standard.

According to the law of economic development, there is a high probability that the assets of these people will continue to increase, as many economic experts **, the era of "cash is king" has arrived, presumably relying on the period of asset flaunting, purchasing power will become a new standard.

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