A lot of it really depends on how big the jackpot was. I think that can mean something different for a lot of people. What might be a jackpot for one could be considered chump change for another.
The key thing I would look at is whether or not I had enough money to put aside so that I could live off the interest. Let's assume Bonds which are more stable than stocks, but they typically only average a return of about 2 to 4 percent annually. I am going to split the average and figure that I will make about 3 percent return on whatever money I invest in the bonds on an annual basis.
For me, my target yearly income would be about $200,000. This is significantly more than what I am making now, but I feel it would be enough to continue to pay my bills and perhaps give @mrsbozz and I some extra to be able to do some things that we enjoy like travel etc.
At the three percent rate of return, I would need to win about $7,000,000.00 in the lottery. Given that the current jackpot for the Mega Millions is somewhere around $348 million I think that I would have more than enough money to quit my job. Here are the reasons for that:
If I were to only win about $10 million on a lesser jackpot, I would probably still have to be working at my regular job to help pay the bills. I think I would need some thing to do to keep me active as well. It can be a whole lot of boring if you are just sitting around doing nothing all the time. $7 million wouldn't be enough to be continuously travelling, so there would have to be some time when you are just stationary. I don't think that would be good for me or @mrsbozz.
However, if we were to win a jackpot closer to the $348 million, we would then have much more money to play around with. We are pretty happy with our house so we probably wouldn't move out of it, we would just pay it off so we don't have a mortgage anymore. Thinking big we might move to a house on a lake, but it would still be relatively small and the price of real estate isn't too crazy in the state where we live, so we would easily be able to buy it outright and have plenty of money left over.
Let's assume that after taxes we only get about $150 million of the original $348 million. The government always has to take their cut don't they? I think we could easily put away $20 million and again at the 3 percent annual return rate that would give us $600,000.00 a year to live off of and pay our bills. Not too bad assuming we don't have a mortgage to pay. Speaking of mortgage, I am going guess very high and say we spent $1 million on a new house on a lake somewhere. I don't think it would ever be that much, but let's just dream big I guess.
That still leaves us with $129 million. This is the point where I would have to say I would definitely leave my job. The main reason I would leave my job is because besides the travelling that my wife and I would do, I would also setup a handful of foundations that do charitable work. These foundations would take a large portion of our time that we would normally be working to run and organize. I don't see how we would have the time to do a nine to five job.
Again, assuming the 3 percent annual rate of return, that would give my foundations around $3.8 million dollars annually to give to those who are in need. If I wanted to be a little more risky, I could put my money into stocks and mutual funds which might give me a return closer to 10%. That would be I could have close to $13 million annually to share with those who are less fortunate.
Finally, since I no longer have a mortgage and I probably won't have a car payment, the $600,000 annually I am bringing in as a "salary" would be more than enough to allow me to invest some of that into cryto currencies. That would also be another reason to quit my full time job so that I could spend time investing in Steem and using esteem to blog in my free time about our trips or the work that our foundations are doing. With my whale status I would be able to help even more people by giving them large upvotes on their posts.
I would quit if i have laid out solid plans for a sustainable business venture or some lucrative means of investment. and it would also depend on how big the jackpot was... It would also depend on whether i still value my job or at least believe in the vision of the company/employer i am working for.
One cam be a millionaire and still be employed somewhere. The aim isn't about having so much money to spend alone. It about remaining financially free and still having a sense of importance and responsibility. Work provides that.
If i had a really shitty job, i'd quit immediately.
I wouldn't let him. I don't do my job for money, because if I did it to earn money, I would have quit long ago. I work by vocation, because I like what I do and even if I won the lottery jackpot, I would still do what I like to do: give classes.
I'm a teacher, with 20 years of service and even today I'm going to work with all the motivation that the situation in my country, Venezuela, can allow me. My motivation doesn't come from my work environment, much less from the economic remuneration I have. If it were this kind of thing, I would have stopped working a long time ago. My motivation comes from my students. They are the ones who inspire me not to fall, to prepare classes daily, to arrive punctually and daily to class. Feeling their interest and the desire to move forward inspires me to do my best every day.
In any case, if I won the lottery, I could use that money for some of my work. Maybe I would buy books, stationery, materials that would help my students and me do my job better.
It's no use having money and not doing anything valuable with your life. Money can run out at some point if you don't invest it in something productive! Just like life. It is sad to see that there are people who only work to have money. Work should be part of your daily passion and motivation.
I wouldn't immediately. I'll think about what I would do with the money first and whether my ventures with it would be sustainable enough to keep me from working from my regular job. But if I'm already working with a job I already want, I'd best put that money into some good use like charity, investing, and etc.
I don't rely my dream success in lottery. But if I will be given the chance to have a lot of money same as what you can win in a lottery then I will build my own business and quit to my job. But of course I will not invest all the money in a business. If the business seems rolling the way I want it and seems stable I will persue my dream of travelling around the world together with my family. I will also help poor people, donate in charities and save money for the future of my children.
Well I am not really lucky with lottery or let along betting, while despite that if I ever come across hitting the lottery than what will I do.
Depending on the Money that I get, I will take the step according to that. While the basic things that will come in affect are
While this are the basic things that I will look our for if I get to win a lottery !!
Of course I quit my job because job is my earning source if I get huge amount of money from lottery so I want to do my own business but this thing is vary person to person people have different interest and skills that's why they choose different way most people have higher degree and they already on good position in job maybe they can't leave their job but some people not satisfied with their job and their income is no meet the expenses they always wish to make one business so this is good opportunity for them to start their own business. But on the other hand its depend upon how much money they want buy lottery if this amount is enough for their daily living standard maybe at the situation they can't leave their job but if they won huge amount of lottery then its increase possibility they leave their job if I talk about myself if I wan 100000 dollar lottery then I must quit my job and start some business and social work as well.
Most probably I would quit my job. My job place is away from my home city. I am away from my parents and family. Majority of people loves to live with his family but earning bread may take people away from home. So by getting lottery earning bread issue will be resolved. so, I would quit the job and for my business I will prefer to do my own business.
If I would hit a very mega jackpot that will be enough for me to establish myself, I will jot hesitate quitting my job in order for me to establish myself through that jackpot.
So if I would hit the jackpot in a lottery, I will not hesitate quitting my regular job.