Hold off the happy dance: RBC study says lotto jackpot winners
plan to keep on working
TORONTO, April 25, 2008 — With tonight's LOTTO
SUPER 7 jackpot at $17 million, dreams of quitting work might
be on the wish lists of lottery ticket-holders nationwide,
but an RBC study of employed Canadians says the winners are
just as likely to keep working than they are to retire permanently.
The RBC Survey, conducted by Ipsos Reid and titled The
Competition for Canadian Talent, shows the notion of jackpot
winners sailing off into the sunset never to been seen punching
a time clock again is more myth than reality. In fact, when
employed Canadians were asked what they would do if they were
to win $5 million in a lottery tomorrow, only one-third (35
per cent) said they would quit their job and retire permanently.
Additionally, half (52 per cent) indicated they plan to keep
working, although not necessarily in their current job.
"As one of Canada's largest employers, I am certain
RBC's own employees account for the sale of more than a few
lottery tickets," noted Christianne Paris, RBC's vice-president,
Recruitment and Learning. "As their chances of winning
are as good as anyone else's, it's comforting to know that
aspirations of winning the big one may not entirely be about
permanent retirement."
According to the RBC Survey, if Canadian workers were to
win $5 million in a lottery tomorrow, they would:
- quit their job and retire permanently (35 per cent);
- start their own company (17 per cent);
- start a new career in a completely different field or
profession (13 per cent);
- take a leave of absence but return to their current job
(11 per cent);
- stay at their current job (11 per cent);
- go back to school (eight per cent would); or
- start a charitable foundation (three per cent).
Canadian workers most likely to quit their jobs permanently
and retire (35 per cent) if they win $5 million in a lottery
tomorrow are most likely to be between 45 and 65 years of
age (55 per cent) and female (38 per cent compared to 32 per
cent of men). They are also more likely to currently be working
part-time (40 per cent) and unionized (40 per cent compared
to 33 per cent of non-unionized employees).
Also noteworthy is that workers more likely to say they would
start their own company (17 per cent) following a $5 million
lottery win are more likely to be: younger (aged 18-30, 27
per cent); male (20 per cent compared with 15 per cent female);
earning in excess of $80,000 per year (23 per cent), and employed
in the private sector (20 per cent compared with 15 per cent
of public sector employees).
These are some of the findings of an RBC poll conducted by
Ipsos Reid between November 5 and November 15, 2007. The online
survey is based on a randomly selected representative sample
of 2052 Canadian full and part-time workers. With a representative
sample of this size, the results are considered accurate to
within ±2.2 percentage points, 19 times out of 20,
of what they would have been had the entire adult Canadian
population been polled. These data were statistically weighted
to ensure the sample's regional and age composition reflects
that of the actual employed Canadian population according
to the 2006 Census data.
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Media contact:
Jackie Braden, (416) 974-2124
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