Australians share how much it would take for them to quit their jobs after Lotto win

Have you ever thought about quitting your job if you won the lottery? Turns out you’re not the only one.

Almost one in five Aussies said they plan to tell their boss “good riddance” or quit their jobs in some epic way if they won the lottery.

However, the majority of people said they would keep working even if they won the lottery.

According to a survey of 300 people by the Lottery Office, the magic number of how much would entice someone to quit their job was $5 million, with about 30 per cent of people surveyed citing that magic number.

About 20 per cent said it would only take $1 million to quit their job, while 21 per cent said it would take $10 million.

A further 10 per cent said they would need a win of $50 million to quit their job or retire early, while 5 per cent said they would need more than $50 million.

For those not lucky enough to win an amount worth retiring on, the survey asked what they would spend their money on.

Paying off the mortgage was the most popular, with 29 per cent of people saying it would be the first thing they would do if they won $1 million, while 15 per cent nominated paying off debts.

Buying a house was the second most popular thing people would do with $1 million with 28 per cent, while 15 per cent said they would go on a holiday.

With AU$343 million, tax-free, up for grabs on Wednesday through the European Millions draw, retiring early or paying off the mortgage might be one step closer than you think.

Tickets for Wednesday’s draw of the European Millions are available through The Lottery Office until midnight on Tuesday, AEST.

When a player buys a ticket in the European Millions, The Lottery Office here in Australia buys a matching ticket with the same number.

“When our customers win, we pay them the exact amount of the winnings we collect from the overseas lottery ticket,’’ The Lottery Office Chief Executive Jaclyn Wood said.

“We are passionate about enabling Australians to benefit from international lotteries, as those draws are often significantly larger on average than what you will find in a traditional Australian lottery.’’

The biggest prize in an Australian lottery was the $200 million Powerball jackpot in January, while the USA Mega Lotto jackpot has already exceeded $1 billion this year.