Does Winning Lottery Equal Happiness
Do you think that winning the lottery will make you happy? Unfortunately there are studies of past lotto winner out there that suggest that you will not be happy if you win the lottery. There are a ton of reasons that winning big money in the lotto doesn't make you happy which we will explain further below.
According to a recent Forbes article, a found that the overall happiness levels of lottery winners spiked when they won. But then it returned to pre-winning levels after just a few months! And in terms of overall happiness, the report said that lottery winners were not significantly happier than the non-winners.Credit: damncoolpictures.com
Reasons Why Hitting the Powerball Jackpot Won't Make You Happy
#1) People Will Despise You If You Hit the Lotto
Think about this question - do I really deserve the money I could win from hitting the lotto? You are simply getting lucky. This is why people will flat out hate you after you hit the lotto jackpot. They still have to go to work 9 hours a day, while you live the high life. Think about how much jelousy and bitterness will be aimed at you! You better be ready for it.
#2) People Will Not Leave You Alone and Ask You for Money if You Hit Lotto Mega Millions
You are certainly going to hear from "relatives" that you never knew you had after you hit the lottery. Friends, relatives and other people may even ask you for money. Beggars will start to hound you. You should be ready for this and prepare for it because it's almost a given. If you are sitting on $100 million, think about all the people who will come up to you and ask you for money!Credit: huehueteotl.wordpress.com
#3) Do Material Possessions Equal Happiness? No, They Don't
While it's not certain exactly how you spend your new fortune from hitting lotto, you will probably end up spending the money on material possessions such as cars, houses, boats, clothes, etc. There is enough evidence out there that shows that people will a lot of money and material possessions aren't exactly happy.
The reason for this is because they feel empty - material possessions are cool at first but the excitement from them tends to wear off quick. Think about giving some of your money away if you hit the lottery and you could be happy.
#4) You May Be Tempted to Do Drugs or Do Something Stupid if You Have the Winning Lotto Numbers and Hit Lotto
You will have so much more free time after hitting the lottery since you will probably quit your job. Some people decide to turn to drugs and alcohol, thinking they are just having fun. Be careful or this can soon turn into a dangerous addiction.
#5) You Probably Aren't Financially Smart Enough to Manage That Much Money
If you are a normal person who works a 9-5 job and makes a decent living, having maybe a thousand dollars in your bank account, then suddenly that goes to $100 million... how will you manage your new lotto money? A lot of people who win the lottery end up blowing all their money within just 10 years - 44 percent to be exact, according to the Forbes report. That is the sad truth about lottery winners - they really don't know what to do with the money after they win, so they spend it.
Instead of putting some of the money in interest-yielding bonds, dividend stocks and real estate, they end up purchasing material possessions or giving away money to relatives and friends, or just flat out blowing it on anything.
If you hit lotto a good strategy might be to put away at least half of your winnings in a bond or stock market ETF, let it sit there and earn interest every year. This way you can live off of the interest and not spend the principle amount of capital. You are PRESERVING your capital and still will have plenty of money to go around.
DO YOU THINK YOU ARE READY TO HIT THE LOTTO? If you are, you might want to check out some books on how to increase your chances of hitting the lotto.
One of the best books I've read on the subject is "Lottery Master Guide" by Gail Howard, which is being called the most comprehensive book on scientific lottery strategy ever written. Several users on Amazon swear by it.
I sincerely hope that if you hit the lottery, it will make you happy!