BUSINESS

Money does buy happiness, says lottery group survey

TAGs: Australia, NSW Lotteries, ReachTel

It turns out that one of the most popular cliches—that money can’t buy happiness—may not be true.

A recent survey conducted for lottery groups in Australia showed that it takes AUD$10 million (US$7.7 million) to realize their dream and be happy.

Money does buy happiness, says lottery group surveyReachTel, the organization commissioned by lottery groups in Victoria, South Australia, Queensland, and NSW to conduct the survey, found that 30.4 percent of Australians believe that winning at least $10 million in a lottery would be ideal to make their dreams a reality.

Some 24.3 percent of the respondents, on the other hand, are contented with AUS$1 million (US$772,460). The results, according to the survey firm, was in contrast to a similar survey conducted six months ago, which showed that AUS$1 million is enough to fulfill their dreams.

NSW Lotteries spokesperson Matt Hart said the results highlighted how New South Welshmen had diverse thoughts on what they thought could make them happy.

“Interestingly, previous NSW Lotteries research showed most New South Welshmen told us they would also need $10 million to be able to quit work and retire early. So perhaps New South Welshmen have made a correlation between realizing their dreams and quitting their jobs,” NSW Lotteries spokesman Matt Hart said in a statement. “Sadly, this survey suggests that New South Wales adults are feeling their dreams are a little more out of reach.”

When asked how a big lotto win might bring them happiness, about a third of New South Welshmen (32.2%) said it would be being debt free and financially secure.

More than a quarter (26.6%) said being able to help out family and friends would also make them happy.

The NSW Lotteries survey was conducted in time for International Day of Happiness, 20 March.

“It’s surprising to see that in 2017 New South Welshmen’s dreams have suddenly become ten times more expensive to realize,” he said.

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