“Money can’t buy me love” that’s the Beetle song which comes to mind when we read how the Swedish are leading a happy life after winning the lottery. Yes, money cannot buy you happiness directly but it surely can ease a lot of your stress and bring in a sense of being happy and well being.
A recent study in Sweden about lottery winners has found that earlier, the happiness of winning the lottery disappeared over time and for some, even led to failing health. But among the new crop of winners, the study has found that winning helped increase happiness and life satisfaction by relieving financial stress.
The research shows how these lottery winners did not just squander away all their money but instead invested sensibly in low-risk, low-return bonds and ensured that they spread the winning money over a long span of time.
The behavior of the Swedish winners is very unique unlike majority of other winners; a study of winners in Florida found that big winners were more likely to file for bankruptcy after three years than people who won more modest sums. Maybe it is financial literacy or too many examples of failures which has worked like a lesson.
So if you win the lottery, be financially prudent and invest wisely – make the money go longer….maybe you will end up buying a lot of happiness after all!