Saturday 25 February 2017

Elderly teed up for Budget sting

Shane Ross

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.

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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