Millionaire refuse to retire

[steve88]

Millionaire lottery winner goes back to job at McDonald's... because he misses his workmates | the Daily Mail


He celebrated in the usual way, buying a new home and splashing out on a lavish wedding and holiday in the Canary Islands.
Then he realised that he really missed his job.
So he asked to go back and couldn't be happier, getting up at the crack of dawn to flip burgers for £5.85 an hour.
"They all think I'm a bit mad but I tell them there's more to life than money," he said.
"I loved working at McDonald's before I became a millionaire and I'm really enjoying being back there again."
Few customers at the restaurant in Pontprennau, Cardiff, realise that a millionaire is frying their fries or taking their money behind the counter.
Mr Pittard and his girlfriend Emma Cox, 29, were working there together when he hit the jackpot.
They hung up their uniforms and settled down to domestic-bliss in a £230,000 home with their three-year-old daughter Chloe.
But 18 months later, the novelty of early retirement wore off.
"Lots of my old McDonald's workmates came to our wedding and I had kept in touch with them all the time, so I just thought: 'Why not go back?'" said Mr Pittard.
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Luke with his wife Emma and their cheque for over £1.3 million

Lucky winners: Luke and Emma splashed out on a lavish wedding with their winnings


"To be honest, there's only so much relaxing you can do.
"I'm only young and a bit of hard work never did anyone any harm."
The couple earn more each week in interest on their win than Mr Pittard brings home from McDonald's.
But his wife supports his decision to return to work as a staff trainer.
"I can totally understand it," she said.
"We both really enjoyed working at McDonald's and still have good friends there.
"So it was really familiar for him and something for him to look forward to."
McDonald's manager Katherine Jones said: "Luke was always a great member of our team and when he won the lottery we were all so pleased for him.
"I'm glad he has had the time to enjoy his winnings but love having him here - it's as if he never went away."






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[W2R]

Doesn't sound like he's going to show up on this forum any time soon!

 

[Notmuchlonger]

"To be honest, there's only so much relaxing you can do"


Oh lol I beg to differ. In fact I consider relaxing my job.

 

[jambo101]

He wins 1.3 million and he will continue to work at McDonald's
I dont think he gets it yet.
If he really wants to stay at McD's at least buy the darn place.

 

[brewer12345]

He wins 1.3 million and he will continue to work at McDonald's
I dont think he gets it yet.
If he really wants to stay at McD's at least buy the darn place.

Uh, he won 1.3MM GDP. More like $2.6MM American pesos.

Hey, as long as he is happy. I work with people who have far more money than that, and (amazingly to me) they still show up every day for a full helping of BS.

 

[lazygood4nothinbum]

i'm just off the phone with a lifelong friend who already inherited at least 2 or 3 mil from his parents, plus he's a doctor. the guy works six to seven days a week. it ain't the money.

 

[Notmuchlonger]

Guess I was never lucky enough to find a job I loved.

 

[lazygood4nothinbum]

me neither and i aways admired those who did. i think i would have been happier in life working with animals because whenever i see a pbs animal show it always makes me smile (unless something bad is happening, of course). i'm not sure why i never pursued that. i think the idea of learning latin scared me. i think i didn't like the idea of being so far from home. i thought back then that i was supposed to study for a career that would bring in big money. even though mom always told me to do what makes me happy, success--which i apparently thought would make me happy--didn't entail playing with animals. so instead in my career i got neither success nor happiness. i was so stupid in many ways.

i see early retirement as an opportunity to make amends to myself and to finally pursue that "career." though it won't be easy because even many zoos and such require appropriate degrees just to volunteer for working with animals. completely understandable and i would not want to take away that opportunity from someone starting a real career in that. so i'm going to volunteer at a local wildlife rescue center and start to build a new resume. then, hopefully, when i go overseas i'll find more opportunities and the requirements will not be as stringent as they are here.

just because i'm old and have money doesn't mean it's too late.

 

[Walt34]

He isn't the only one. There's a 75-year-old multi-millionaire stocking shelves at the Lowes up the street. There's a lot of those guys.

 

[Notmuchlonger]

Im almost tempted to find another career...





almost

 

[Razor]

Guess I was never lucky enough to find a job I loved.

I'm with you.

 

[hankster]

Is it possible that work actually becomes fun if you can turn around and walk out at any time with zero consequences?

 

[TickTock]

It certainly helps.

 

[novaman]

I think a lot of visitors to this forum are biased towards work aversion....but there is nothing wrong with wanting to work. In fact, I think that the elderly who continue to be active (eg- work) live longer than those who don't.

 

[clifp]

Ok I have to admit I don't understand this guy. I can see "w*rking" but at McDonalds??

In the past when people would sort of question, why I was retiring early.

I quoted a statistic (I think it was true but who knows. )
Percentage of multimillion jackpot winners who say they will continue working 75%
Percentage who still are one year later 25%.

I guess this guy is one of the 25%

 

[W2R]

Something just occurred to me. Maybe this guy isn't returning to work for sheer love of the job. Bear with me...

Uh, he won 1.3MM GDP. More like $2.6MM American pesos.

OK, let's see. He won $2,600,000 and then spent $230K pounds ($460,000, given that exchange rate) on a house, leaving him with $2,140,000. Then there was the lavish wedding and vacation in the Canary Islands and probably a few other luxuries, so let's call it a cool $2,000,000 even.

But wait - - he probably had to pay taxes on the $2,600,000. That would be a lot even in the U.S., and considerably more in England where I believe taxes are much higher. I would think we could subtract at least $1,000,000 for taxes. So, that brings it down to a "less cool" $1,000,000.

Now suppose he instantly had a clue as far as managing money, which is unlikely. At an SWR of 4%, he would have only $40K/year before taxes with which to maintain his lovely new home and support his wife and daughter. That may be more than his pay at Mickey D's, but it sure isn't a fortune. And yet, they all probably feel like they shouldn't have to scrimp and save any more.

Maybe after 18 months he decided that he needs the money to prevent his portfolio from depleting further!

 

[Orchidflower]

I'm guessing it's the comradeship he misses. I had a girl who worked for me that was an ex-Asst. Manager at a McDonalds for 5 years or more. She loved working there, and only quit as she wanted more money and opportunity. Must be fun there or something.

 

[TickTock]

I think a lot of visitors to this forum are biased towards work aversion....

Yes, I've noticed the same thing. Matter of fact, I am myself; but I don't consider someone else wrong/crazy/stupid for being otherwise.

but there is nothing wrong with wanting to work.

Nope. The point of FI is to do what you want to do, not what you have to do, right?

In fact, I think that the elderly who continue to be active (eg- work) live longer than those who don't.

I'd say that the elderly who stay actively engaged in life tend to live longer than those who don't. Whether or not that engagement is paid work.

 

[militaryman]

I'm guessing it's the comradeship he misses. I had a girl who worked for me that was an ex-Asst. Manager at a McDonalds for 5 years or more. She loved working there, and only quit as she wanted more money and opportunity. Must be fun there or something.

I agree ...

He went back to McDonalds because he had relationships built there that he valued and wanted to continue to be a part of those relationships. What a cool dude!

 

[cjking]

But wait - - he probably had to pay taxes on the $2,600,000.

There is no tax on lottery winnings in the UK.

He will be paying 40% tax on investment income.

 

[W2R]

There is no tax on lottery winnings in the UK.

He will be paying 40% tax on investment income.

OK... then he would have $2,000,000 to invest, which with a 4% SWR would yield $80,000. After taxes, that would be $48,000 and that is considerably better! I withdraw my previous rationale for his return to work.

The man just is not wanting to retire....

 

[kombat]

OK... then he would have $2,000,000 to invest, which with a 4% SWR would yield $80,000. After taxes, that would be $48,000 and that is considerably better!

Actually, couldn't he "gift" half the money ($1,000,000) tax-free to his wife? Then they'd each draw $40,000 in interest income per year, which would be taxed much more favorably, wouldn't it?

 

[W2R]

Actually, couldn't he "gift" half the money ($1,000,000) tax-free to his wife? Then they'd each draw $40,000 in interest income per year, which would be taxed much more favorably, wouldn't it?

Apparently not (?):

There is no tax on lottery winnings in the UK.

He will be paying 40% tax on investment income.

 

[freebird5825]

you want fries with that check? LOL

neat story.

 

[Scrapr]

I'm surprised. The check was made out to his fiancee/wife.

Maybe he's afraid she is going to dump him and wants a fallback

He'll always have MCD