Recent studies disprove the cautionary tale of people’s lives going down the tube as a result of winning the lottery. According to a paper published by Bénédicte Apouey and Andrew E. Clark of the Paris School of Economics, “levels of stress declined over two years [after winning] while positive feelings increased, so that general psychological well-being was significantly higher two years after winning than it had been beforehand.” Another study of Swedish lottery winners found that most winners “refrained from splurging, preferring to save or invest the prize money, and that most reported being quite content.”
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What’s the Big Idea?
It’s important to note that European lottery prizes are substantially smaller than America’s Powerball lottery. Typically ranging between $250,000-$1 million, Europeans tend not to fret about whether they deserve the money or who they should give their earnings to. To an American, who could potentially win hundreds of millions of dollars, the best plan to survive a lottery win is to remain anonymous. “Keep your jackpot secret. Tell no one but your spouse; make no extravagant purchases or gifts at first, but slowly increase your spending and your giving so no one will suspect your newfound wealth.”