Amazon Worker in UK To Quit Job After Winning $4.4 Million Lottery

[appalachiablue]

'Amazon thought one of its workers was joking when he quit saying he'd won $4.4 mil in the lottery.' Business Insider, Aug. 7, '19. An Amazon worker is quitting his day job after winning the top prize on the UK's National Lottery 'Set For Life" draw. Dean Weymes, who worked shifts and weekends for the transport team at Amazon, said he checked his winning numbers after arriving at work at 7 a.m. on July 30, according to The Daily Mail.

When the 24-year-old found out that he had won, he realized that he didn't need to be at work if he didn't want to be. So, Weymes said he was sick and went home. "The following day I went in to quit, I went to HR and said I have to leave, they said to fill out the form, which said 'why are you leaving?'" he said in quotes reported by the Mail. "I wrote 'won Lottery/retirement?' and they were like 'you can't put this down' - I think they thought I was putting a joke reason."

Weymes will be given £10,000 or $12,000, every month for the next 30 years, which works out as $4.4 million in total. "I am now literally set for life," he told the BBC. He plans to use the money to help support his severely autistic brother and start a career as a screenwriter. "I studied screenwriting at university as this has always been a passion of mine but I have never been able to do anything with this," he said. "I can turn my passion into a job - something I never thought I could do."
A spokesperson for Amazon told Business Insider that it is "delighted" for Dean and wishes him success in becoming a screenwriter. "Perhaps one day he'll be creating blockbusters for Amazon Studios!" she said.
http://www.msn.com/en-us/lifestyle/lifestyle-buzz/amazon-thought-one-of-its-workers-was-joking-when-he-quit-saying-hed-won-dollar44-million-on-the-lottery/ar-AAFt6XI?li=BBnbfcL&ocid=HPCOMMDHP15

[PoindexterOglethorpe]

1. I hope he understands that 30 years, while longer

than he has currently been alive, will pass more quickly than he realizes.

He needs to save at least half of that money or in thirty years he'll be broke and will have a very hard time finding any job.

[customerserviceguy]

2. That's the good thing about the long payout period

A lot of lottery winners get urged by "financial planners" to go for a lump sum, if that is an option. The discounting on such an option is terrible, and if expressed as an interest rate, is far more than any reliable investment return. But the "planner" wants the commissions generated by the lump sum, so they push that option. And, in a few years, the winner goes broke.

Maybe people will blow the money for the first couple of years, then realize that they need to salt some of it away. The long payoff period protects them from both unscrupulous "planners" and themselves.

[appalachiablue]

3. Yeah, the lump sum idea is suicide. He's young, hopefully bright

since he's a writer and will read up on the pitfalls of such fortunes and also the coming 'jobless society.' And stay out of trouble. I wish him and his brother all the best.

~ A Fool and His Money Are Soon Parted

[PoindexterOglethorpe]

4. Even the long payout period isn't a guarantee

that he'll do the right thing. More than one lottery winner in this country who took the longer payout still went bankrupt because they just didn't understand that no matter how large the win, it's still a finite amount of money.

And yeah, it's almost always a really dumb thing to go for the lump sum.

Of course, this guy has already made the dumb mistake of going completely public with his win. Although perhaps the fact that he's going to get the money in monthly installments, rather like a paycheck, will help him be sensible about this. I don't have a lot of confidence, given he thinks he's set for life.

[customerserviceguy]

5. Well, he's got thirty years to figure it out

Most people wise up in way less time than that.

And you're right about the going public thing, he'll find more relatives than someone doing a test at 23andMe!