How to not ruin your life if you win the $1.6 billion lotto jackpot
“You gotta be in it to win it,” is the saying that is always tied to the announcements of upcoming lottery prizes.
The latest Mega Millions lottery has reached the mind-blowing record of $1.6 billion. But if you miss out on entering that, you could always settle and take your chances to win the upcoming Powerball lottery of $620 million.
Before your pupils dilate, turn cartoon-like, transform into dollar signs and you start dreaming up of all the things you would buy if you had that kind of cash, do a quick google search on past lottery winners. You’ll find that their experiences are far from glamorous.
Rather, their stories serve as stark cautionary tales, with winners later ultimately filing for bankruptcy, being taken advantage and receiving misguided advice by financial planners and of course, developing an overall lack of trust in people.
Take note from Evan Sparks, a business journalist and vice-president for publications for the American Bankers Association, whose recent Twitter thread discussed the implications that come with winning the lottery.
https://twitter.com/EvanSparks/status/1053992079184011264
https://twitter.com/EvanSparks/status/1053993008243400704
https://twitter.com/EvanSparks/status/1053993322757398528
The Times article that Sparks cites in his post is composed of a series of personal accounts from previous lottery winners who discuss their experiences after winning the lottery and the bleak consequences that have their winnings.
Many referenced a dramatic change to their familial relationships and friendships, while others discussed the struggles in dealing with feelings of anxiety that had developed as a result of the way they were newly treated and perceived by others.
https://twitter.com/EvanSparks/status/1053993724278136833
https://twitter.com/EvanSparks/status/1053994153418330112
https://twitter.com/EvanSparks/status/1053994805771059200
https://twitter.com/EvanSparks/status/1053995389899231232
https://twitter.com/EvanSparks/status/1053996347651747844
https://twitter.com/EvanSparks/status/1053996660618153984
https://twitter.com/EvanSparks/status/1053997526184026117
https://twitter.com/EvanSparks/status/1053997850806439936
https://twitter.com/EvanSparks/status/1053998186212274176
https://twitter.com/EvanSparks/status/1053998851080765440
https://twitter.com/EvanSparks/status/1053999142031314944
https://twitter.com/EvanSparks/status/1053999510760906752
Sparks’s thread gained a lot of responses and attention. Sparks himself couldn’t have anticipated that his tongue-in-cheek step-by-step guide would cause such a stir.
Nonetheless, his message is important given that we live and operate in a culture where the number in our bank account is the ultimate metric of our own happiness.
https://twitter.com/EvanSparks/status/1054124604577513473
https://twitter.com/EvanSparks/status/1054124605420564481
https://twitter.com/EvanSparks/status/1054124607119212544
https://twitter.com/EvanSparks/status/1054124608125853696
https://twitter.com/EvanSparks/status/1054124608926990336
In short, money doesn’t buy happiness y’all.