Friday 9 December 2016

Elderly teed up for Budget sting

Shane Ross

Published 25/08/2013 | 05:00

FLIGHT OF FANCY: Ellen Corby as Grandma Walton in the long-running TV series. Believing Ireland's elderly have hidden pots of gold is equally far-fetched
FLIGHT OF FANCY: Ellen Corby as Grandma Walton in the long-running TV series. Believing Ireland's elderly have hidden pots of gold is equally far-fetched

Stella, the statistic, has had a good recession. Stella is 66, a widow, who lives in a large house in a Dublin suburb. She has no mortgage as it was repaid long ago. Sadly, her husband died in 2008, but he left her comfortably off.

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He was prudent all his working life, saving for their old age. He left her his life savings of €50,000 and a risk- free share portfolio worth €300,000. She draws the old-age pension of €230 a week.

Big house, no debt, healthy income, a few bob in the bank... Stella the phantom statistic is riding out the recession, feather-bedded, unfazed.

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