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Old 09-12-2018, 07:38 PM
 
4,877 posts, read 1,380,412 times
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There was an article, “Winning the Lottery Beats Losing, a Study Finds," that contradicted many other studies. Most studies find that lottery winners don't end up well.


Money Really Does Lead to a More Satisfying Life
By Justin Wolfers

New research suggests that more money really does lead to a more satisfying life. Surveys of thousands of Swedish lottery winners have provided persuasive evidence of this truth. Lottery winners said they were substantially more satisfied with their lives than lottery losers. And those who won prizes worth hundreds of thousands of dollars reported being more satisfied than winners of mere tens of thousands.

https://www.nytimes.com/2018/08/24/b...ery-study.html

Here's the thing, though. That's Sweden. America is a very capitalist me-first society emphasizing the individual. Sweden is more socialist, more interested in the common good. I can't help wondering if they end up happier in Sweden because they have better values, and aren't so focused on acquiring the most ostentatious things, and keeping up with - or surpassing - the Joneses.
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Old 09-12-2018, 08:03 PM
 
Location: Honolulu, HI
4,715 posts, read 1,171,593 times
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Winning the lottery is better for people who don’t blow the money in a couple years.

Whether you’re a burger flipper or billionaire, money has to be managed responsibly.
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Old 09-12-2018, 08:08 PM
 
Location: In the Pearl of the Purchase, Ky
6,982 posts, read 12,406,498 times
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We've watched those shows where lottery winners buy a huge house and several cars. If I ever won, our 2006 Buick Rendezvous with 260,000 miles, and my Chevy S-10 with 87,000 miles are doing just fine and would still last us for a long time. Most of any money spent would be on our house. It was built in 1911 and still has most of the original windows and a lot of the original wiring. New wiring, windows, roof, and plumbing and we'd be done on it. Other than that, and a little donation to our kids, we'd be ready for a little vacation and still have a whole lot left over
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Old 09-13-2018, 12:11 AM
 
6,389 posts, read 1,545,690 times
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Quote:
Originally Posted by kygman View Post
We've watched those shows where lottery winners buy a huge house and several cars. If I ever won, our 2006 Buick Rendezvous with 260,000 miles, and my Chevy S-10 with 87,000 miles are doing just fine and would still last us for a long time. Most of any money spent would be on our house. It was built in 1911 and still has most of the original windows and a lot of the original wiring. New wiring, windows, roof, and plumbing and we'd be done on it. Other than that, and a little donation to our kids, we'd be ready for a little vacation and still have a whole lot left over
Thing is though, most people say the same thing...but when you see your new bank balance after the winnings are deposited, I would imagine that changes someones mentality pretty quick.
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Old 09-13-2018, 02:53 PM
 
879 posts, read 934,423 times
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I figure that even if they end up broke in five years, they had a lot more fun during those five years than they would have otherwise.
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Old 09-13-2018, 05:11 PM
 
Location: In the Pearl of the Purchase, Ky
6,982 posts, read 12,406,498 times
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Quote:
Originally Posted by rstevens62 View Post
Thing is though, most people say the same thing...but when you see your new bank balance after the winnings are deposited, I would imagine that changes someones mentality pretty quick.
Maybe some people but I was brought up to appreciate what I have and not be greedy. Main thing is to take care of my family.
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Old 09-14-2018, 12:37 AM
 
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There is a guy in our town that won the big lottery twice, first time, it was around 7-10 million, and then like 5 years later, he won 30 million. He hasnt changed much as a person, I went to school with one of his daughters, all the kids drove nice cars after that, and they did buy a nicer house, but he put most of the money into his auto body business, he bought the lots next to it and expanded, they are still one of the better auto body shops in the state.
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Old 09-14-2018, 05:46 AM
 
Location: Mill Creek Hundred
293 posts, read 639,275 times
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Ok, ok. I'll take one for the team. If anybody here wins big, send the money to me and I will update you guys in about 5 years as to how it's going.
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Old 09-15-2018, 02:38 AM
 
Location: California
29,634 posts, read 31,986,238 times
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I've always felt there is an amount that will make everyone happy, and beyond that it's just a burden. Personally I feel ill hearing number like $25M (pick your number) and up because it highlights all the people who are loosing, with finite money the problems of those NOT benefiting outweighs the joy of those who do IMO. Will lesser amounts there is still no need to ever worry about money again and allows you to enjoy life to the fullest, even if you cant by a dozen sports cars and drive them into swimming pools for fun or whatever.

I don't play lottery but if I did and won bigly, like $100M, my dealing with lawyers would center on how I can give a large part away to other people. Not as a foundation or to a charity but straight up "here is $3M for you". Change other lives, and let them decide how to or if they share it too.
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Old 09-15-2018, 02:51 AM
 
Location: Reno, NV
459 posts, read 144,320 times
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The more money you win, the more people show up with their hand out. That plus lawyers and accountants, and at some point, it really is "too much".


When Powerball or Megamillions jackpot is hundreds of millions of dollars, it makes me sad to see people wait in line to throw away their money on a game that is almost impossible to win. And if you do win, you have the problems I outlined in my first paragraph.


Would you rather have a 1 in 200,000 chance of winning $250,000 (do the taxes yourself), or a 1 in 200,000,000 chance of winning $250 million? I would prefer the former. A thousand times better chance of winning, none of the hassles of winning way too much, and for me, $250,000 is life-changing. I don't require six houses and a dozen sportscars to feel better.
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