Saturday 21 January 2017

Charlie Weston: 'Poor rich' earn over €100,000 but can't meet home payments

Charlie Weston Personal Finance Editor

Published 21/01/2012 | 05:00

A NEW class of "poor rich" has emerged who are unable to meet their mortgage and other repayments despite earning more than €100,000.

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These people elicit little sympathy but are often job creators and entrepreneurs, research by a leading financial adviser has found.

Many of these people have seen incomes collapse from €300,000 a year to less than €100,000 -- but they still typically owe more than €1m on their home and other property loans.

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