Corner Brook couple plan to enjoy retirement after being ‘Set for Life’

Cory
Cory Hurley
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Mary Beaudion, left, and Peter O'Quinn, from Corner Brook,  are the lastest Set for Life winners, they are seen here with their granddaughter Michelle Gaudett.

After a lifetime of working hard, changing careers to continue to make ends meet, Mary Beaudoin and Peter O’Quinn of Corner Brook are now “Set for Life.”

The seniors, who moved back to the city about three years ago, accepted their lump sum payment of $675,000 Tuesday after Beaudoin scratched the winning ticket this past weekend.

She picked up two of the tickets mid-last week, putting them in her purse, and headed for home. She had no idea that $675,000 — the lump sum payment they chose to take instead of the $1,000 per week for 25 years — was just sitting there for days.

Saturday night, after watching a movie, she went to her purse and was reminded that “her chance” at big winnings was unscratched.

“It’s unbelievable,” Beaudoin said Tuesday at the Marble Inn Resort in Steady Brook, where the official ceremony took place.

“It’s really not something you can put your finger on, because you always see other people win it. You think one of these days it is going to be our turn. It is here and now, and it’s still ... it really happened?”

It was the same reaction from O’Quinn, a Corner Brook native, who didn’t believe his partner when she told them they had won, and won big. After convincing him it was true, she did a celebration dance with her granddaughter.

O’Quinn broke down while talking about what the money means to the couple who returned to Corner Brook after 45 years in Windsor, Ont.

“I was happy,” he said, in a bit of an understatement. “There goes all the hardship and everything. Pay off a few bills. We are renting. Our car is practically on its last leg. Would have liked to have gotten rid of it, but we had it for 14 years.”

That is the priority list for the couple, who said they will be travelling to Ontario to see their children and grandchildren in the future.

And, they will keep buying lottery tickets to continue to test their luck. If they weren’t before, they are truly believers now.

“He always said if you have a ticket, you have a chance,” Beaudoin said of O’Quinn. “Always said it is a waste of money. But oh well, we did it over the years and it has paid off.”

The couple also worked in a casino in Windsor for so many years each. They have seen the highs and lows of gambling. The payoff for them was much more than the tips from the big winners, they would occasionally look forward to.

O’Quinn worked a number of jobs in his early years in Corner Brook — including in a fish plant and on the railway. Beaudoin, the daughter of a lighthouse keeper, moved to Corner Brook when she was 17-years-old.

The couple, who admit they’ve lived a long life struggling to make ends meet, said retirement is going to be that much easier now, and “sweeter.”

EARLIER STORY

Mary Beaudoin and Peter O’Quinn of Corner Brook are “Set for Life.”

The seniors, who moved back to the city about three years ago, accepted their lump sum payment of $675,000 Tuesday after Beaudoin scratched the winning ticket this past weekend.

The couple, who admit they’ve lived a long life struggling to make ends meet, returned to Newfoundland and Labrador to help care for Beaudoin’s 91-year-old mother.

A new vehicle and possibly their own home are two of the priority items, after they pay some outstanding bills, as they prepare for a much more easier retirement life financially.

Geographic location: Corner Brook, Newfoundland and Labrador

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Recent comments

  • phil
    February 19, 2014 - 16:36

    Jack. I read your comment with interest. If this couple had put all the money they have lost over the years by losing 50 cents on the dollar each time they purchased a ticket into investments such as what you state they would have been millionaires many times over.

  • Jack
    February 19, 2014 - 08:05

    Why does it seem that anytime a Newfoundlander and Labradorian wins "Set For Life", they make the poor financial choice of taking the lump sum $675,000 as opposed to the wise choice $1,000 per week for 25 years? For most of us who don't know the concepts of Finance and Mathematics, if you take the $1,000 per week for 25 years, you're better off in the long run, and here's why. If you take the $1,000 per week for 25 years, based on the 2% average national annual inflation rate, the present value of this annuity is $1,022,868.68. In other words, by taking the lump sum, you lose $347,868.68. Even if you put that $675,000 in an investment account, you won't recoup all the losses. Most people will say that taking an annuity would run the risk of losing everything, but that's not true at all. Under Interprovincial Lottery Corporation regulations, which includes Atlantic Lotto, in an event that annuity holders die, his/her beneficiary gets the balance of it.

    • Derek Durdle
      February 25, 2014 - 21:38

      Stop and think about this. If you were elderly such as 70 years or older, how long do you think you will live to get the Million out of it. Take the lump at your age and enjoy it,"NOW"

  • Joe The Dummer
    February 18, 2014 - 15:33

    The Telegram version of the story includes the full amount they won. Why would anyone leave $625,000 on the table? The money is guaranteed. SMH