Do you think you would be happier if you were much richer than you are now? In the news there are many stories about miserable millionaires. Do you think there are people who have great amounts of money and are happy with their lives? How do you think they managed to retain such happiness?
I would be happier because I would not have less stress in my life relating to everything that must be paid for. Although even if I did not have an debt and I could afford all of my bills, but didn't have such things as reliable friends, a loving family, or my boyfriend I might not be happy at all. This is what it comes down to, these are the things in life that produce happiness. Money can not but happiness, many millionaires especially those that are lottery winners find that their friends become closer just for the "benefits." When these rich people come to discover that fact, it can be crushing. Without meaningful bonds with people, life can be miserable. What also can contribute to unhappiness even with large amounts of money if feeling like you are not fulfilled, what I mean by this is if I had millions of dollars I would feel compelled to give it away to either charity or just friends and family. This is how I would maintain my happiness, I still would take care of my needs but also those of who I love. Money alone is not enough to be happy with your life.
Question: What do you think people who win the lottery should do with the money to reduce the possibility of ending up in debt?
I actually have a friend who’s mother won a million dollars thanks to the lottery and she spent it in the snap of a finger and I can guarantee she is in debt, although she doesn’t work and I don’t think her partners would be happy if they were the only one’s providing income. Her one daughter that is in college has had to take out student loans in order to pay for it and the daughter will be the one who has to pay it all back. Although I am sure this will be a lot easier said than done here is what I think should be done with significant lottery winnings…
ReplyDeleteFirst of all any debt that already existed prior to winning the lottery should be paid off, including current bills that could be paid off and could be paid in advance. The next thing to do with left over money would be to start a college fund savings account for any kids that the winner has or may plan to have in the future. Then make home improvements (if you have one…or put money way towards a future home) such as windows, roof, painting, additions, etc. After all this if there is any money left take a small amount and go on the shopping spree you always dreamed of, donate to a charity you love, and the rest of it put it in a savings account so it will collect interest and DON’T touch it unless there is an emergency.
Question:
Do you think people who win the lottery for say a million dollars realize because of what gets taken out in taxes they don’t actually get a million dollars, they get a significant amount less??