Survey Shows Australians Need $10m To Ensure Their Dreams Become A Reality
Global lotteries are fast becoming the layman’s casino but without the negative connotations. Just like gambling most lottery players believe that with a single winning ticket their fortunes can be changed overnight and they would be free of financial stress.
The exact impact of a possible lottery win was the subject of a survey conducted by ReachTEL for lottery groups in Victoria, South Australia, Queensland and NSW. The survey found that 30.4 percent of respondents believed that a win of at least $10 million in a lottery would be the ideal amount in order to make their dreams a reality.
Of those surveyed some 24.3 percent were less greedy and believed that $1 million would suffice to make their dream come true. This was the same figure deemed by the majority of respondents in a similar survey six months ago.
What is interesting from this survey is that the amount of money needed to offer financial security is rising continuously. NSW Lotteries spokesman Matt Hart alluded to this and said that it was rather sad to see that most NSW residents believed that the realization of their dreams was becoming a much more expensive proposition and becoming more out of reach to most. He cited reasons such as concerns over international developments, the cost of living and concern over the economy for people wanting large sums of money to feel comfortable.
The biggest relief and comfort factor from a huge lottery win was being able to live debt free and enjoy financial security. Of the 1200 survey respondents, 33.3 percent of them stated that what most appealed to them was their ability to live debt free.
The younger sector in particular were keen on the idea of enjoying financial security. With 42.4 percent of people aged 18-34 believing they would gain the most from the financial security. This number was lower for the age group of 35-50 where it was 36.4 percent and 28.7 percent for people aged 51-65.