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Would you quit your job if you won the lottery? Many say no

Topic closed. 83 replies. Last post 6 months ago by music*.

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United States
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January 7, 2015
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Posted: May 24, 2016, 8:53 pm - IP Logged

.

I can't agree with the people who say they'll continue working, unless their jobs pay better than a lotto jp.

If I won the jackpot, I'd set myself up with either a shop where I hop up/fix up older Harleys and cars OR, something else that would
help at least the local community, for a bit.    For instance, if I won the 203 million, I'll go so far as to
earmark money for the following:

  • Childrens' hospitals
  • Mercy ship hospital
  • Experimental gas station where I'd sell gas for $1.50 per gallon, for premium gas, until the sustained earmarked money
    is totally used up, for that venture.

  • Don't chase the numbers you play.
  • Play only numbers you've already played, plus however many random picks.
  • But, ALWAYS the regular numbers you play.  This will make you a winner, not a chaser.
            (so far, though, I've yet to win any significant lotto prize)
    MoneyMike$'s avatar - Lottery-050.jpg
    Ny
    United States
    Member #167314
    July 5, 2015
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    Posted: May 24, 2016, 9:11 pm - IP Logged

    $2.59m oh i'm gone i'll buy a share in the company (not that we're on the stock market but I'll definitely attempt to buy in)  or work something out with the owner and i'll be working without working for the rest of my life.. but all seriousness not everyone has the know how to start a business or to invest.. which in the meantime before you win you might as well educate yourself on those things so you can have at least a halfway solid plan

    Creativity..

    " What's more likely to happen will happen.. "

    Million dollar operation 

    Wink

      Avatar

      United States
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      March 5, 2016
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      Posted: May 24, 2016, 9:51 pm - IP Logged

      I would quit....but I have grand plans for my win

      I have always wanted to do an MBA.....I dream about that more than I dream about winning (But realize, my doing the MBA is dependent on the win...too many school loans to pay back as it is)

      I have even gone so far as to order my GMAT prep books....just to help usher in the win sooner WinkWinkWink

        Romancandle's avatar - moon
        Upacreek
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        December 8, 2012
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        Posted: May 24, 2016, 10:02 pm - IP Logged

        wow... Wouldn't have thought this many would continue to work.

        you can always volunteer

        -RC

          ohiopick3's avatar - Lottery-063.jpg
          Ohio
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          December 14, 2003
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          Posted: May 24, 2016, 10:14 pm - IP Logged

          If you bring home anything more than 2 million after taxes and invest half in a small cap mutual fund. You are set.

          If you are young, get some small business experience and you are set for life.

          If you had 5 mil or more over 50 years old, just take the "ride". You are good.

            ekem6078's avatar - winter
            TN
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            Posted: May 24, 2016, 10:14 pm - IP Logged

            I'll probably quit my present job if I hit for like 3 million. Open me us some kind of business of my own. I wouldn't just quit the work force altogether.  I would probably do a lot of volunteer work too,  just to keep from getting bored.  I get bored easy lol,  and like to stay busy doing something.

              rcbbuckeye's avatar - Lottery-043.jpg
              Texas
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              October 23, 2007
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              Posted: May 24, 2016, 11:24 pm - IP Logged

              If you bring home anything more than 2 million after taxes and invest half in a small cap mutual fund. You are set.

              If you are young, get some small business experience and you are set for life.

              If you had 5 mil or more over 50 years old, just take the "ride". You are good.

              MM with the megaplier 5 would be just fine. $5 million, about $3 million after taxes, and I could make that last 20 or 25 years. Then I'm 87 years old and probably pushing up daisies.

              CAN'T WIN IF YOU'RE NOT IN

              A DOLLAR AND A DREAM (OR $2)

                grwurston's avatar - Cute animals_Spider.jpg
                Winning makes me smile.
                bel air maryland
                United States
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                April 24, 2010
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                Posted: May 24, 2016, 11:32 pm - IP Logged

                MM with the megaplier 5 would be just fine. $5 million, about $3 million after taxes, and I could make that last 20 or 25 years. Then I'm 87 years old and probably pushing up daisies.

                I'm 5 maybe 6 years from retirement. If I won and had 2.5 Mill after taxes, that would give me $100,000 a year for 25 years.

                Guess what? C-YA Later!!!   See Ya!

                "You can observe a lot just by watching." Yogi Berra, Hall of Fame baseball player.

                The numbers will tell you what numbers to play. Pay attention to the numbers.

                Don't just think outside the box, crush it.

                  wander73's avatar - Lottery-038.jpg
                  Philadelphia, PA
                  United States
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                  March 24, 2014
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                  Posted: May 24, 2016, 11:37 pm - IP Logged

                  MM with the megaplier 5 would be just fine. $5 million, about $3 million after taxes, and I could make that last 20 or 25 years. Then I'm 87 years old and probably pushing up daisies.

                  I was just thinking the same thing.  If I ever hit 5 numbers on mm and that happens I would agree to help my mom pay different expenses in the house such as a mortgage my dad inhereted to her.  That would be one thing.  Then get my teeth at the dentist done.  I already told her get paid off and then have other things to do.

                    Coin Toss's avatar - shape barbed.jpg
                    Zeta Reticuli Star System
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                    Posted: May 24, 2016, 11:56 pm - IP Logged

                    I wonder how many jackpot winners who say they would keep working actually would.

                    There was a guy in Chicago in the 1980s who won $43M and said he would and lasted about seven weeks before he quit his printing job.

                    Just as an FYI for every one here's a nasty little stat:

                    The most common time for a heart attack in America is on a Monday morning. Some people dread going back to a job they hate so much that their body actually shuts down on them.

                    Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

                    Lep

                    There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

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                      Kentucky
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                      Posted: May 25, 2016, 12:08 am - IP Logged

                      Up to 80% of people would keep working after a big win

                      Even a seven-figure payday wouldn't keep many Americans from showing up to work.

                      Anywhere from half to 80% of workers in America say that they'd keep working even if they won the lottery, according to a survey of 1,000 adults released Tuesday by cloud computing company Adobe Systems Inc., as well as surveys from both Gallup (2013) and CareerBuilder (2014).

                      These high percentages of people who plan to keep working have remained relatively constant over the years: A study published in 2010 in the Journal of Applied Psychology found that from 1980 to 1993, an average of 73% of workers in the U.S. said they'd keep working even if they no longer needed to for financial reasons; from 1994 to 2006, roughly 68% said the same.

                      Whether or not you keep working may depend, in part, on the type of job you have. "Individuals with psychologically and financially rewarding jobs continued working regardless of the amount they won, while people who worked in low-paying semi-skilled and unskilled jobs were far more likely to quit the labor force," writes H. Roy Kaplan, the author of a study on nearly 600 lottery winners published in the Journal of Gambling Behavior.

                      Many people continue to work after winning the lottery because their jobs give them a sense of purpose in life, says Denver-based career coach Leila Hock. "We all need something outside of ourselves to stay focused on," she says. Indeed, more than three in four workers who would keep working after a lotto win say they'd do it because work gives them "a sense of purpose and accomplishment," according to CareerBuilder.

                      Others keep working because they're still learning on the job and feel they're making an impact, says Jeff Vijungco, the vice president of Global Talent for Adobe. Socialization also matters: Nearly one in four workers say they'd keep working because they'd miss their coworkers if they weren't working, the CareerBuilder survey found. as does Simply filling your time was also a factor: Roughly three in four said they'd keep working because they'd be bored if they didn't, the CareerBuilder survey found).

                      Furthermore, many lottery winners would keep their current jobs (rather than work for themselves/start their own business or find another job). Around half of the workers surveyed by Adobe who said they'd keep working if they won the lottery said they'd remain at their current jobs; in the CareerBuilder survey of 3,300 workers, roughly one in three agreed.

                      This isn't just people paying lip service to working: Research on past lottery winners shows that most of them do keep working. A study of nearly 200 lottery winners (average earnings: $3.63 million) published in 2004 the Journal of Psychology found that more than 85% of the winners continued to work, and of those, roughly two in three kept working at the same organization. And an earlier study of nearly 600 lottery winners published in the Journal of Gambling Behavior found that nearly nine in 10 lottery winners continued to work.

                      Of course, you can't discount the role that money plays in whether or not people will quit. Indeed, the amount you win matters, with those who win more money being more likely to stop working, both studies found. (However, even among those who won a lot of money "a sizeable number still continued working" with the average amount won among those who chose to continue working at $2.59 million, not an insignificant sum, the authors of the 2004 study found.)

                      Anywhere from half to 80% of workers in America say that they'd keep working even if they won the lottery, according to a survey of 1,000 adults released Tuesday by cloud computing company Adobe Systems Inc., as well as surveys from both Gallup (2013) and CareerBuilder (2014).

                      It doesn't say if they were asked "would you quit your job after winning a major jackpot" and it doesn't say if average lottery players were polled. From what I've read, LP members would vote 50 to 80% to remain anonymous which would be really hard to do if they continued to work on the same job. 

                      (However, even among those who won a lot of money "a sizeable number still continued working" with the average amount won among those who chose to continue working at $2.59 million, not an insignificant sum, the authors of the 2004 study found.)

                      Somebody should tell the "experts" PB's jackpot starts at $40 million.

                        tnlottodreamer's avatar - animal bear.jpg
                        The Great Smoky Mountains
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                        Posted: May 25, 2016, 12:09 am - IP Logged

                        I would call in RICH.

                        I Agree!*** You Can't Win, If You Don't Enter***

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                          Texas
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                          Posted: May 25, 2016, 12:38 am - IP Logged

                          I agree, $10mil.  However, $5ml will do and go into a field that I enjoy.  I definitely would quit and earn a couple certifications and then try to get a job in a company that I like.

                            RedStang's avatar - tallman zps6gf4inoc.jpg
                            NY
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                            Posted: May 25, 2016, 12:51 am - IP Logged

                            They should of asked them if they would continue working where they are. I'm sure 98% would of said no like myself.

                              pantherestates's avatar - Lottery-061.jpg
                              sherman oaks
                              United States
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                              Posted: May 25, 2016, 12:56 am - IP Logged

                              sorry...would quit N a HEARTBEAT!!!!There is a whole wide world out there and I just want 2 see it!would become a world traveler.

                              I'M A WINNER!!!!!!!!Drum