As the Spring Festival approaching the Year of the Dragon, waves of showing off wealth have emerged on social **, and many netizens have posted their deposit amounts, ranging from hundreds of thousands to millions. This has led to reflection on the definition and criteria of "rich people". According to data from the People's Bank of China, as of the end of October 2023, the scale of domestic and foreign currency deposits in China reached a staggering 28728 trillion yuan, of which personal deposits are as high as 13498 trillion yuan. The issue of wealth accumulation and social wealth distribution behind this data has attracted widespread attention and discussion.
Different people have different opinions on the definition of "rich people". However, there is a unanimous consensus in all sectors of society that the most basic criterion for a wealthy person is that they do not have any debts. This means that even if a household has a large amount of savings, if it still has a large amount of foreign debt, then they cannot be considered truly wealthy. However, even if this consensus is reached, there is still some controversy about the specific division of "rich people".
Generally speaking, people divide the wealthy into three tiers: the moderately well-off, the middle-class rich, and the high-net-worth rich. For well-off wealthy people, family savings must exceed 500,000 yuan. This figure is not arbitrary, but the result of careful consideration. First of all, a deposit of 500,000 yuan can deal with sudden unemployment, illness and other problems in the short term, ensuring that family life will not be affected too much. Second, as early as 2015, the People's Bank of China (PBOC) promulgated deposit insurance regulations, which stipulate that if depositors have deposits of less than 500,000 yuan, depositors can receive full compensation if the bank goes bankrupt. This provision also indirectly shows that a deposit of 500,000 yuan is enough to ensure a certain degree of financial security.
For the wealthy middle-class people, household savings are generally between 1 million and 2 million. This level of the population typically includes sole proprietorships, freelancers, and executives. The amount of their savings has gone beyond the well-off wealthy and has a higher degree of financial freedom. Having a deposit of $1 million to $2 million means that they can face life's challenges more calmly, especially in their later years, and can live their retirement more decently.
As for the high-net-worth wealthy, it refers to the family with a deposit of 5 million to 6 million or more. They are usually a group of people with large assets and have a higher pursuit of wealth preservation and appreciation. Not only can they enjoy the best quality services provided by banks, but they can also carry out more diversified asset allocation through channels such as private banking to maximize their wealth.
Against the backdrop of China's growing deposits, discussions about when they can be considered "rich" have inevitably surfaced. However, whether it is a well-off rich person, a middle-class rich person or a high-net-worth rich person, what they all have in common is that they can only be truly called rich without any debt. Therefore, deposits exceeding a certain amount cannot simply become the only criterion for judging whether there is wealth, and it is more important to pay attention to financial soundness and continuity, as well as the effective management and utilization of wealth.
In this endless tide of social wealth exposure, we should be cautious about our financial situation, not blindly pursue superficial show-off and vanity, but should pay more attention to the accumulation and appreciation of wealth, as well as the improvement of the quality of life. It is only on a well-thought-out basis that you can truly achieve financial freedom and live a better, more stable life.
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