Published: April 28, 2015
We all dream of being the winner. To wave the lucky ticket in our hands and cash in for millions of dollars. After all, winning the lottery only happens to a handful of people in their lifetime. Not to mention all the perks that comes with having money, too. But does winning the lotto make you happier? The percent of lottery winners happier after winning is 55%, which makes you wonder about the other 45%. 43% say that winning has no effect on their happiness, while the meager 2% say that they are less happy with all that cash.
So why are the 55% so happy? Mostly because their financial security is now insured (65%) but the minority say that the money enables them to buy what they want (23%). So how does all this cash effect the family? Not surprisingly, 95% of people remained married after they won the lottery and those with unmarried partners are 100% still in that relationship. All of that money has a positive effect on most families, since 58% of families claim to be happier. 37% say they are less happy. Is it jealousy? Hmm… The probability that the winnings will last to a third generation are slim, since 90% of the time it is gone by then. People do have a heart, though. 83% of winners give money to their family, the majority giving it to their siblings (66%), children (57%) and parents (51%). The statistics are slim for those who actually ask for money. Only 17% of families ask for winnings from winners of $100,000 to $500,000 while 29% ask for money from winners of $4+ million. Would you ask?
So, do lifestyles change much? People do tend to spend their money quick. 44% of winners spend their entire winnings in five years! From those who donate to charity, there is a good percentage (44%). Many don’t actually vacation outside of the country for the first time (19%) but the majority of people move from an apartment to a single family home (75%). 1% spend their winnings on plastc surgery, 3% move their kids to private schools and 32% gain weight (UNLIMITED FRIES? YES PLEASE).
If you won the lottery, what would you do?