A new study by Swissquote and Ilres (Luxembourg institute for social research) suggests that in Luxembourg, feeling rich now requires a net worth of €2 million, up from last year as living costs continue to rise.

A Luxembourger needs €2 million net to feel rich. That’s according to a survey by the online bank Swissquote, conducted together with Ilres, whose results were published on Wednesday.

The study examined how people in Luxembourg perceive both their personal finances and the broader economic situation. According to respondents, a gross household income of €408,000 per year marks the threshold for being considered wealthy, while €249,000 per year is viewed as enough to feel financially comfortable.

Both figures are higher than last year, reflecting the impact of inflation and rising living costs on people's sense of financial security.

Nearly one in three residents said they feel less confident about their financial situation compared to a year ago, a sentiment the study also links to fears over geopolitical tensions.