If you won the lottery, would you still work?

[Adrenaline]

Would you still work if you won the lottery?

For me, it depends. If I won 1 million, it wouldn't be enough to retire, so I'd have no choice but to continue working. If I won 10 million, on the other hand, I would definitely stop working.

The only jobs I would do if I had 10 million, would involve being a famous musician, famous actor, or professional athlete. Not surprisingly, all famous musicians, actors, and athletes continue to work even though they essentially win the lottery every year, given their huge salaries.

 

[doggee_01]

No:d

 

[doinker]

at this stage in my life i could retire on 1 million dollars but i might have to do some kind of work part time just to pass the time away

 

[stormchaseryvr]

If I won enough to stop working, I would volunteer to help underprivileged youth.

 

[shack]

No. No. No. No. No. No. No.

 

[yahoo40]

The only jobs I would do if I had 10 million, would involve being a famous musician, famous actor, or professional athlete. Not surprisingly, all famous musicians, actors, and athletes continue to work even though they essentially win the lottery every year, given their huge salaries.

do you think Bill Gate is an actor or musician ?


You miss the bussinesmen category

 

[MissCroft]

I'd probably keep escorting here and there because I really do enjoy it (No, I'm not just saying that!) Plus I have a few regulars who I think I would miss. :-(

I'd do other stuff though too because I'd get bored. I would travel a LOT and probably just keep taking university and/or college courses (in different cities around the world would be fun, something like the Summer Abroad programs they offer at UofT) for the rest of my life, lol, which I like to do anyway. IMO, you can never learn too much and if you have the money to afford it, why not? Volunteer work is something I'd like to do a lot of too. But, of course, all this depends on exactly how much money we're talkin' about.

 

[Rockslinger]

If I won 1 million, it wouldn't be enough to retire, so I'd have no choice but to continue working. If I won 10 million, on the other hand, I would definitely stop working.

When I was a little child, $1million was considered extremely rich but that was when a house cost $32,000 and a handsome salary was $10,000. To-day, one would need a net worth of $10million to be considered wealthy.

My boss and his brother are worth somewhere north of $100million each and they still work extremely hard but they built their business from nothing and they want to leave the business to their children.

There was a TV show about lottery winners a couple of years ago and they are a motley crew. One common thread was that they found out they had a lot more "relatives" and "friends" than previously thought.

 

[Anynym]

IF you could get 7% interest on $1M, that's only $70k/year (or a little less, as the "down" years eat into the principal).

More likely, you can be assured of getting a 3 - 5% return on your investments, which is easy enough to spend in a flash.

And at $10M, the numbers are a lot better but typical investments will be a lot less income-based as well. For example, buying yourself a nice condo might hold its value but won't support your lifestyle. Well, it won't support mine.

 

[Keebler Elf]

If I won a large sum of money ($10M plus), I would retire from my current job but not right away.

I wouldn't even claim the money right away. Instead I would wait until a major news story hit (Michael Jackson dead, US invades Iraq, terrorist attack, Tiger Woods, etc.) and then go claim my prize.

Why? Because it's much easier to slip under the media scrutiny and claim your prize if it's a busy news day/week. That will pay dividends when you don't have all the crazies coming out of the woodwork looking for a handout.

In the interim, I'd be hiring a very good accountant and figuring out how I want to collect and what I'm going to do with the money. I'd also be laying the groundwork by changing my phone number, preparing to move, changing my e-mail address, extended vacation so the media can't find me, etc., etc., etc.

When you get a large sum of money like that, you want to be able to "disappear" as much as possible.

 

[Rockslinger]

I have no intention of outing him/her but a TERBIE claimed to have won $10million in Lotto 649 and this person is still working.

 

[ig-88]

Yes, but not for others.

I would take out a reasonable chunk and start my own business.

 

[MissCroft]

I wouldn't even claim the money right away. Instead I would wait until a major news story hit (Michael Jackson dead, US invades Iraq, terrorist attack, Tiger Woods, etc.) and then go claim my prize.

Why? Because it's much easier to slip under the media scrutiny and claim your prize if it's a busy news day/week. That will pay dividends when you don't have all the crazies coming out of the woodwork looking for a handout.....

That's a great idea - I never thought of that. It's not fair that they publish the lottery winners' names in the media. I know I would get hounded by family and so-called 'friends' if I won the lottery.

I know a guy who came into over 1 million thru an inheritance and he hardly told anyone. Well, he told me but I guess he knows I'm not the type of person who would ever ask for handouts or would ever tell. He still lives in the same little house and drives the same car and keeps it a secret.

 

[danmand]

I don't work now.

 

[Rockslinger]

Tiger Woods is reportedly worth a billion dollars and he is still working. Guess he needs the money to pay off all the women in his life. (BTW Elin, and her mother, at the time admitted that she married Tiger for his money.)

 

[Rockslinger]

I know a guy who came into over 1 million thru an inheritance

One of my friends inherited $300,000 when his father passed and he has grown that to about $700,000 now. Then he bought his aunt's house for a song when she went into a nursing home. That house is worth $400,000 now. He will also inherit substantial sums when his grandmother and mother passes.

He stopped working for "dumb bosses" (his words) when he was 38. He doesn't work and spends his days hanging around with 85 year old men (who try to set him up with their "fat" granddaughters) who also don't work, at the Scarborough Town Centre.

 

[Adrenaline]

Yes, but not for others.

I would take out a reasonable chunk and start my own business.

Can I ask why?

Why take the risk of starting up a new business and having it fail when you have enough cash to do whatever you'd like? Assume the new business was successful, you'd be working 12 or more hours a day 7 days a week at least in the initial stages of it, which would be many years.

Why not just travel the world or pick up some hobbies? I'm not judging, I know it's a personal choice, but to me it just seems odd when people say they want to open up their own business after winning a large chunk of money.

 

[r_s426]

The only jobs I would do if I had 10 million, would involve being a famous musician, famous actor, or professional athlete. Not surprisingly, all famous musicians, actors, and athletes continue to work even though they essentially win the lottery every year, given their huge salaries.

Many of those people HAVE to keep working to support their lavish lifestyles. Besides, don't forget taxes, agents fees, etc. Not that I feel sympathy for anyone in that category. ;-)

I have pretty good job security. If I won enough to retire on (which I define as enough to enjoy my current lifestyle, or better), I might just keep going in to work and tell everyone exactly what I think of them... and see what it takes to get fired. LOL

 

[ig-88]

Can I ask why?

Why take the risk of starting up a new business and having it fail when you have enough cash to do whatever you'd like? Assume the new business was successful, you'd be working 12 or more hours a day 7 days a week at least in the initial stages of it, which would be many years.

Why not just travel the world or pick up some hobbies? I'm not judging, I know it's a personal choice, but to me it just seems odd when people say they want to open up their own business after winning a large chunk of money.

I can't help but think that the lottery winnings will run out eventually.

I think it's at least worth it to spend some money to find the one thing that you love doing, and a way to make money from doing it.

 

[realthing69]

Since I'm still considered young (late 30s) I'd still work provided my "new" friends" don't interfere or bother me.

Or I'd do some volunteer work. Depending on how much I won, I'd probably donate the bulk to charities (buy an MRI machine, help homeless etc.).

For example if I won the LottoMax $50 million, I'd keep like 5-7 million and donate the rest. I not the type of person who needs to big house and exotic car etc.

But keep enough to live comfortably and not work till I die.