If you read this article you find it uses the definition of poverty as lower than 60% of median income. It is a measure of inequality and has no implication of any absolute level of need or of purchasing power.
If you own a house you are almost a millionaire. It is very hard to be a millionaire.
Being a millionare today is not the same as it was 20 years ago. 20 years ago, if you had a million in the bank, you could live comfortably off the interest. Today? I was told that you’d have to pay money to keep that in the bank. Negative interest. WTF?
of course, there are many ways to invest. I am bullish on gold, for instance.
Real estate is insane in Luxembourg.
This is impossible. Luxembourg everyone makes 100k easy..
Especially if you did some university degree, then it’s straight out of school 15k a month. LOL no worries
It’s weird there’s no sources on that article, a bit click bait’esque. 25k a year gross, that’s like 2k gross a month, below the minimum wage so this can’t be from a full time job surely?
For anybody annoyed by headline articles, here’s the full report:
Page 22 has the matters in terms of poverty thresholds, which is 2177€ brut per single person.
Keep in mind that a poverty threshold is a statistically determined figure, there always will be a % of population that will be below this, no matter what the actual earnings figure is.
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But how? It‘s so easy to have 100k€ here?
/s
Any link to the article?
If you read this article you find it uses the definition of poverty as lower than 60% of median income. It is a measure of inequality and has no implication of any absolute level of need or of purchasing power.
If you own a house you are almost a millionaire. It is very hard to be a millionaire.
Being a millionare today is not the same as it was 20 years ago. 20 years ago, if you had a million in the bank, you could live comfortably off the interest. Today? I was told that you’d have to pay money to keep that in the bank. Negative interest. WTF?
of course, there are many ways to invest. I am bullish on gold, for instance.
Real estate is insane in Luxembourg.
This is impossible. Luxembourg everyone makes 100k easy..
Especially if you did some university degree, then it’s straight out of school 15k a month. LOL no worries
It’s weird there’s no sources on that article, a bit click bait’esque. 25k a year gross, that’s like 2k gross a month, below the minimum wage so this can’t be from a full time job surely?
For anybody annoyed by headline articles, here’s the full report:
https://www.csl.lu/wp-content/uploads/2023/04/csl_panorama_social_2023.pdf
Page 22 has the matters in terms of poverty thresholds, which is 2177€ brut per single person.
Keep in mind that a poverty threshold is a statistically determined figure, there always will be a % of population that will be below this, no matter what the actual earnings figure is.
Also one thing to note about this figure here since they’re saying the median salary is 42k€ – this actually is almost 8k below the STATEC figures from 2019 which I posted about [here in the salary distribution of the country](https://www.reddit.com/r/Luxembourg/comments/wuuxkr/luxembourg_annual_gross_salary_distribution_2019/).
The explanation seems to be that the CSL data is showcasing equivalent salary data:
> *” Pour rappel : le revenu équivalent médian tient compte de la composition du ménage. “*
LuxTimes at it again with the misleading headlines
Not gonna lie, I totally forgot Luxembourg even existed.
If only they were more easy going and lenient with languages, and allowed spouses of 3rd country nationals to work…..