Millennials feel nothing short of £2 million is a life-changing amount of money | Personal Finance | Finance

Millennials reckon nothing short of £2million is a “life-changing” amount of money, according to research. A poll of 2,000 adults found the average person needs to win £1,470,000 on the lottery, to consider it enough to alter their way of life.

But millennials would want the most to feel settled for life, with Gen Zs taking second place – requiring a total of £1,561,538 to feel the same. Meanwhile, 55-64-year-olds would be happy with a more modest £1,153,911 when it comes to the big win.

However, almost one in 10 (eight percent) of all adults don’t believe winning any less than £5million would change their way of living.

And the research found that many would continue with their day-to-day life if they did win – including going back to work and college. It also emerged women would require almost £400,000 more than men to be happy.

A spokesman from Lottoland.co.uk, which commissioned the research ahead of its Mega 2024 Draw, said: “It’s interesting to see how different generations view a life-changing sum of money – and it looks like men would settle for so much less than women.

“But it seems anything over £1 million will appease the nation, quite rightly – there is a lot you can do with that sort of money, and a win this New Year’s Eve would mean bagging a hundred times that amount.”

The research also found that if they were to win a life-changing amount of money, half would travel the world, while 27 percent would invest in property.

Starting a business, going shopping, and playing sports are other things people would take up after cashing in on the lottery.

However, 44 percent would want to spend time with friends and family, while a humble 16 percent would volunteer at a chosen charity.

And six percent would continue to work, while eight percent would go to university – and a further eight percent of those polled, via OnePoll, would simply do nothing.

Lottoland’s spokesman added: “If you win that sort of money, the world is really your oyster. You can be clever and invest it in property – but it’s not surprising that so many people would plan a shopping trip after winning, or start traveling the world.

“On the flip side, it’s nice to see so many people would resume their everyday life if they won – and even start volunteering somewhere. Here’s hoping someone gets a win this New Year’s Eve, so they can do just that.”