The average Garda pension is worth over €1 million (as they retire after 30 years rather than 40). Anyone with a pension of over €40k a year has a net wealth of over €1 million. That means that a person retiring at 66 with a house worth €500k and a pension of €20k a year is worth over a million.How do they value public sector pensions, I quite often hear things like you would need a private pension pot of €1m to match some public sector pensions. In that case we have many more millionaires than reported in the article?
I'm very surprised it's that low. I presume State Pensions, and possibly all pensions, are excluded for the purposes of their calculations.in Ireland, 5% of adults have personal wealth of over $1,000,000
https://www.askaboutmoney.com/threa...on-consumer-debt-or-show-their-wealth.214753/ covered some past discussion on if db or DC pensions are included. Probably need to try and read the report to figure out. But I'm guessing db pension are not and DC pension is included.
because people like blaming someone for their woes and the Shinners do populism and division better than anyone else.If we are the 17th wealthiest country in the world and wealthier than even UK and Germany, why are left wing parties like sinn fein so popular here?
They only pay tax on their billions if they turn them into income. The left wing parties want to remove the only wealth tax we have. The entitled "I worked hard all my life brigade" who are deluded enough to believe they actually earned their wealth are voting for them.It would be very interesting to know how many of the billionaires live and pay tax here at the rates normal people pay and if they are squing the figures. Will the revenue get 33% of the billions when they pass. I guess not. Headline newspaper articles are usually lazily written and by people who do not dig deeper.
Wealth and income are two different things but yes, the property and equities boom fuelled by quantitative easing, is responsible for most of the wealth we see. QE nationalised the private losses made during the financial crash.How much of this is down to the property boom?. Is is possible people are asset rich and cashflow poor?
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