在日本，所謂的「富裕層」並不是一個模糊的概念，而是有著清楚的劃分標準。這套劃分出自野村綜合研究所，並被日本媒體與社會普遍接受。不同於一般人常以「收入」來判斷，日本採用「淨金融資產」作為衡量依據。這個數值的計算方式，是將存款、股票、債券等金融資產的總額，扣掉房貸等負債，才能得到真正的淨值。這樣的定義，揭穿那些只靠房產堆疊起來的「紙上富豪」，因為一旦房價下跌，他們極可能立刻從「千萬富翁」跌落成「負資產家庭」。

根據這套標準，若一個家庭擁有超過五億日圓的淨金融資產，就屬於「超富裕層」；若介於一億至五億日圓之間，則被劃入「富裕層」；五千萬至一億日圓則是「準富裕層」；而三千萬日圓以下的資產，則僅能算作基礎消費階層。舉例來說，若有人擁有一億日圓的存款與股票，但同時背負一千萬日圓的房貸，那麼他的淨金融資產實際只有九千萬日圓，並不能算作真正的「富裕層」。

除資產總量，日本社會也越來越強調「現金流」的重要性。真正的富裕，不是帳面上的數字，而是資產能否源源不絕地帶來現金收益，足以支撐家庭開支。野村綜合研究所提出一個明確的指標：當金融資產的年收益能超過家庭年支出的1.5倍時，家庭才能真正邁入財務自由。這意味著，若一個家庭每年支出五百萬日圓，那麼至少需要七百五十萬日圓以上的穩定投資回報，才算真正具備安全的富裕生活。

在資產管理上，研究機構提出明確的行動建議。首先要降低負債，確保房貸與收入的比例不超過安全範圍，以免財務被長期鎖死。其次是資產結構的重組，不能讓房地產佔據過高比例，而應該逐步提高流動性資產的比重，例如指數基金或國債，讓資產配置更為穩健。

這套標準在日本社會獲得廣泛認可，也成為許多人進行家庭理財的重要依據。相較之下，中國的家庭財富結構卻有高達七成八集中在房地產上，根據北京師範大學的數據，這樣的結構一旦遭遇房市泡沫破裂，就可能讓大批家庭陷入資產縮水甚至負債纍纍的困境。這也正是為什麼日本式的「淨金融資產」定義，能引發廣泛討論與借鏡的原因。

總體來說，日本的「財富地圖」告訴人們，所謂的富裕，不在於擁有多少房產，而在於是否真正掌握可隨時動用的金融資產，以及能否依靠投資回報支撐日常生活。這樣的標準，不僅更符合現代社會的財務現實，也成為評估家庭經濟韌性的重要依據。

Japan’s Wealth Map: Why Net Assets, Not Income, Define Affluence

In Japan, the concept of “wealthy class” is far from ambiguous. Instead of relying on annual income, which can be misleading, the country’s most widely recognized standard—formulated by Nomura Research Institute—focuses on net financial assets. This measure, calculated as the sum of deposits, stocks, bonds and other financial holdings minus outstanding liabilities such as mortgages, offers a far more precise picture of economic standing.

According to this benchmark, households with over ¥500 million in net financial assets are considered “super wealthy.” Those with assets between ¥100 million and ¥500 million fall into the “wealthy” bracket, while ¥50 million to ¥100 million defines the “quasi-wealthy.” At the other end of the spectrum, households with less than ¥30 million are categorized as basic consumption class. The classification is stricter than it first appears: even if a family holds ¥100 million in assets, if they owe ¥10 million in mortgages, their net wealth is only ¥90 million—just short of the wealthy threshold.

Beyond these static categories, Japan’s financial analysts emphasize the importance of cash flow over mere paper wealth. True affluence, they argue, is about controlling liquidity. Nomura Research Institute suggests that financial freedom begins only when a household’s annual investment income exceeds 1.5 times its yearly expenses. For example, a household that spends ¥5 million annually would require a stable return of at least ¥7.5 million to be considered financially secure.

To achieve this, experts recommend two critical actions: first, reduce liabilities by keeping the mortgage-to-income ratio at safe levels; second, rebalance household assets to reduce the dominance of real estate and increase allocations in liquid, income-generating instruments such as index funds or government bonds.

This definition of wealth resonates strongly in Japan, where real estate has long been associated with inflated perceptions of prosperity. By focusing on net financial assets, the framework undercuts the illusion of “millionaire homeowners,” whose wealth may collapse in the event of a property bubble. The contrast with China is stark: according to data from Beijing Normal University, nearly 78% of Chinese household wealth is tied up in real estate. Such a structure risks widespread financial instability if property prices fall, leaving many families with negative equity.

Ultimately, Japan’s wealth map demonstrates that real financial strength lies not in the size of one’s home or the headline value of assets, but in the balance between liquidity, risk, and the ability to generate sustainable cash flow. It is a lesson increasingly relevant not just in Japan, but across Asia’s rapidly shifting economic landscape.