Family investments

For those who can afford to, investing in property remains one of the preferred choices for families looking to prepare for the future.

"Being a landlord is my own way of preparing for the gloomy days of getting old," said Li Xue, 32, who has a 5-year-old son and rents out three apartments in Beijing's downtown area.

Jia Xuan said her parents have also sold their three-bedroom apartment in Tianjin's Hedong district and are buying a bigger house for the whole family in the city's eastern suburbs.

The move will mean a longer commute for the couple but it will allow their daughter to spend more time with her grandparents.

"The community has better child care services and we will have more room for the family," said Jia, 28.

She said she feels guilty about using her parents to help take care of their child but, as the mortgage accounts for almost half of the couple's income, they cannot afford a nanny.

"After we got married, my parents urged me to have baby early so they would still have the energy to help with the baby," said Jia, although some experts warn that the heavy involvement of grandparents can lead to conflicts due to their different views about education.

Jia and her husband Li Wenbo, 31, know the challenge they face in caring for their parents in the future, but for the time being are focusing on finding the right kindergarten.

"Right now, it's OK because our parents are still healthy and can take care of themselves," said Jia, "but we need to plan ahead."