What I’d give you if I won the lottery

Posted byVanya Wryter ConsultingPosted inBusiness, LifestyleTags:, , , , , , , ,
Bloganuary writing prompt
What would you do if you won the lottery?
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What would you do if you won the lottery? Would you spend it all or would you give it all away? For sure, I wouldn’t do what most expect and here’s why.

I discovered some interesting statistics about lottery wins of significant amounts. There is a myth that most people go broke after going on a spending spree and purchasing whatever their heart desires. The truth is, these types of dramatic stories make for catchy news. The reality is a bit different.

For example, you’ll find a statistic like this in USA Today: “Nearly one-third of lottery winners eventually go bankrupt within three to five years, which is more likely than the average American.” Stories about rags to riches and back to rags are like a tale warning us to stay away from excessive spending and unwise long-term planning. There is also conflicting research.

Studies have contradicted such dramatic myths. Researchers found that “all else being equal, money is associated with greater life satisfaction and well-being. Of course, money on its own may not bring happiness.” The studies found that winners did not throw away their wealth on “extravagant purchases.”

So before you win, ask yourself, “What’s your plan?” Do you want your life to change for the better after you win a huge sum? 

Will there be a moment when the clock strikes midnight and your fortune disappears? If so, then indulge in all manner of extravagance! Buy mansions, buy luxury vehicles, like the $18 million lottery winner who spent all his winnings in ten years and returned to his old job. Your fortune will disappear quickly enough.

If not, spend wisely, learn about investing, and enjoy a whole new level of lifestyle. The research found that more money can mean a better life if you live within your new means. Certainly, if you don’t have to worry about everyday expenses anymore, life can be incrementally more fun and relaxing!

You might have watched the movie It Can Happen to You, which is based on the true story of a police officer who promised half his lottery ticket winnings to a waitress as a tip because he didn’t have enough change. In the movie, the characters became millionaires who had the time of their lives spending their winnings on making complete strangers happy.

For certain, if I hit the jackpot, I would do the same and buy things for people – paying it forward – as the expression goes.

If you won the lottery tomorrow, what would you do with all the extra cash?

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29 thoughts on “What I’d give you if I won the lottery”

  2. If I won the lottery I would first get out of debt. This means my credit cards and home mortgage. Next I would boost my saving, emergency fund and retirement. Then help family and friends. Last give some to charities I care about.

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  4. Pingback: What I’d give you if I won the lottery – News good jim kiriakopoulos

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