Question

Would winning several million dollars in the lottery make you happier? What would research on affective forecasting predict? What does the research on money and happiness have to say? How should you spend your winnings to maximize happiness?

Answer 1

Would winning several million dollars in the lottery make you happier?

Winning a lottery will definitely make me happy because I’ll have enough money to enjoy my life and fulfil my wishes.

What would research on affective forecasting predict?

Affective forecasting is predicting how one’s emotional status will be in the future. Thinking or forecasting happiness through winning this lottery is not going to be real because this is only momentarily. Just like winning a lottery is a lucky event, life may also bring same amount of loss through bad luck in the future in different forms.

What does the research on money and happiness have to say?

Money may bring materialistic happiness but it will also bring same amount of sadness in one’s life. For example, if someone goes on the road with lots of cash in his purse, he would be the first person to be attacked and robbed. So, money might bring more trouble at times in one’s life and it may even take one’s life if they don’t let go of it. If someone doesn’t give the money that the robber asks, they would be attacked and they may even die in the struggle. Rich people are the most worried and poor people because of their fear of protecting their wealth.

Research shows that it’s not about having more money but it’s about giving back to the society and leading a simple and moral life that brings more happiness than what money alone can bring.

How should you spend your winnings to maximize happiness?

I need to share it with all my family, charitable organizations, help a school get some of their basic needs, help few disadvantaged children to get education, fulfil the death wish of some chronically ill patients etc. This doesn’t mean we shouldn’t spend some money on ourselves. Spending money on others bring more happiness than spending money on one’s self.