Wednesday, June 2, 2010

Woman Pinches Pennies, Leaves $4.5 million




SEATTLE (UPI) -- A frugal Washington woman left a surprise $4.5 million legacy, with most of it going to a swimming pool her small town may be unable to afford, officials say.

Verna Oller of Long Beach lived a life of frugality, buying clothes at a thrift store, wearing wigs instead of spending money at a hairdresser and hauling wood to use in her wood stove well into her 90s, refusing to heat her house any other way, The Seattle Times reported.

When Oller died May 10 at age 98, no one but her lawyer, Guy Glenn, knew she had amassed a $4.5 million fortune building on savings and investing a bequest from her uncle and an inheritance from her sister, the newspaper said.

"She was a very interesting person. Her whole culture didn't involve spending money, it was more about being extremely cautious with her money," said Glenn, one of the few in Long Beach who knew of her wealth. "Her story is really unique; I've been along for the ride for a long time. (Her money) was a deep, dark secret. She didn't want anyone coming looking for money."

Before Oller died, she decided she wanted to leave behind something. She donated $500,000 to a public-school endowment and another $500,000 to a foundation to be used for student scholarships and grants to teachers, the Times said.

The rest she left to Long Beach, a town of about 1,300 people, to build an indoor swimming pool benefiting everybody -- if the town committee approves it and if the cash-strapped city can afford to maintain it.

"We have to explore the process and talk to our citizenry. It's a wonderful surprise that someone felt that strongly about the community," Long Beach Mayor Bob Andrew said.

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