How would your life change if you won the lottery

Would Your Life Change If You Suddenly Won The Lottery?

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We examine how wealth shocks, in the form of inheritances, affect the mortality rates, health status and health behaviors of older adults, using data from eight waves of the Health and Retirement Survey (HRS). Our main finding is that bequests do not have substantial effects on health status, although some improvements in quality-of-life are possible. This absence occurs despite increases in out-of-pocket (OOP) spending on health care and in the utilization of medical services, especially discretionary and non-lifesaving types such as dental care. Nor can we find a convincing indication of changes in lifestyles that offset the benefits of increased medical care. Inheritances are associated with higher alcohol consumption, but with no change in smoking or exercise and a possible decrease in obesity.

We use British panel data to explore the exogenous impact of income on a number of individual health outcomes: general health status, mental health, physical health problems, and health behaviours (drinking and smoking). Lottery winnings allow us to make causal statements regarding the effect of income on health, as the amount won is largely exogenous. These positive income shocks have no significant effect on general health, but a large positive effect on mental health.

This result seems paradoxical on two levels. First, there is a well-known status gradient in health in cross-section data, and, second, general health should partly reflect mental health, so that we may expect both variables to move in the same direction. We propose a solution to the first apparent paradox by underlining the endogeneity of income. For the second, we show that exogenous income is associated with greater risky health behaviours: lottery winners smoke more and engage in more social drinking. General health will pick up both mental health and the effect of these behaviours, and so may not improve following a positive income shock. This paper presents the first microeconomic analogue of previous work which has highlighted the negative health consequences of good macroeconomic conditions.

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17 comments on “ What Would You Do If You Won the Lottery? – Essay ”

Winning the lottery can lead your life in so many different directions. Because of the fortunes you now have people would treat you different and things in life would come easier then before. I feel money changes people in many ways, so to be wealthy and possess fancy things can cause someone to start acting different towards family and friends.

If I personally won the lottery I would definitely take care of my family. I would make sure all my love ones were financially stable and I would take care of my friends so they could prosper into a better future. Money could make anyone happy so those who I care about in a struggle and have financial problems I would make sure they are okay and taken care of. However if people I didn’t know well started to show up and try to befriend me, I wouldn’t help them because of the simple fact that they are only there because I won the lottery.

I think it’s possible to keep the same personality and values. I would have to come to an understanding that even though I have a lot of money I still have morals and people to care about. Most people that change their outlook on life are people who become greedy because of their fortunes and the fame they start receiving from others. Instead of liking the fame and all the people who want to be my friend, I would try to avoid it an only associate with family and close friends that were there before I won the lottery.

If I won the lottery I would invest in certain stocks and put most of my winnings into some type of savings bond. I would personally give five million to my aunt and uncle because of all the money they’ve helped me with over the years. I feel I owe many people in my life, so a lot of my earnings would go towards love ones and what they needed. My family has always been there for me and has helped me financially so I would make sure they are taken care for the rest of their life.

The lottery is all about getting lucky and I feel if you do win the Mega Millions you should take care of your family and close friends. To just leave love ones behind and start living a separate life because you are wealthy is wrong. You need to have a good judgment of character so you know who is really there for support and those who are just there because of your status. There will definitely be people trying to be your friend but life is about choices and it’s up to you to make the right one.

what would i do if i won the lottery?I would like it to be a secret for
as long as i could,take care of some close friends and family and my bills,also
invest in houses and some proportys.
I would save some or most of the money but enjoy it as well my bills
and my family bills will get paid and i would give everybody in my family
something for them selfs.close friends as well,and i would also move not right away but i would also i would travel around the world.
As far as the downside to this good fortune well that’s
the part were all kind of people come up to you or who never said anything to
you befor now they know you,or writing to you for your help and some may
need it but the stress or you wondering who;s after you or gonna come up to
you next im sure it;s unreal.
People always say that money dont change them but that’s
a lie i’ve seen small money change so many of them,iI would do right by those
who have done right by me and have alot of fun with the money and travel
and just enjoy it but for anybody to get so much money it’s hard,cause you
well change maybe for the better or worst.

On the issue of winning I personally did not play to be honest although I’d like the money I would not enjoy people coming out the wood work asking for stuff. As for what I would do if I won, I would of course secure my family accordingly, those that deserved it since I’m known to be a cheapskate anyway. Afterwards I’d disappear hopping not to be found or bothered by anyone looking for a hand out.

I probably give some to Cancer Research, and as for saving money, only enough to live off the interest. Downside is always people trying to take yours. I’d hire a bodyguard staff to keep people I don’t know away from me and mines.

Last, with winning all that money there’s bound to be some difference in outlook on life. I’m not a fan of too many people around me anyway, so I would miss them too much.

I was hoping to win a mega million. I play five dollars on Thursday evening, my aunt play twenty dollars and my friend play fifteen dollars. On Friday night during the drawing we were watching TV, but when the number came out none of us had it and I was saying if I had know I would have play a dollar.
If I would have won the lottery, I will buy a big building apartment to rent it out, buy a big gorgeous private house and stay there with my husband, help some homeless people to make up their life, give out some couple of thousands to the poor people, open different kind of stores for business, help some of the student who wants to go to college and could not afford their tuition and take care some of the kids who are abandoned by their parents.
I would have keep two millions in my bank account, give out two millions for the poor peoples, homeless, abandone kids and the students, spent two hundred and fifty six millions on my private house, building apartment and the stores that am going to open for business.
The downside to this good fortune is, I will see different kind of faces, and some people will try to kill me to take my money. Where ever I go I must be with a security guard for my protection. I will not have anything in privacy because people will follow me where ever I am.
The only thing am going to do with strangers approaching me is, if they ask for money am going to tell them you might have to come back next week and before they come back am going for my vacation in London to stop people coming see me and enjoy myself. After the vacation in London am going to live in a different area.
I don’t think it is possible to win a hundreds of dollars of millions of dollars and keep your personality, values and outlook on life intact. They always announce the five richest peoples on TV. That means there will be no privacy for all the richest people in the country.

I was hoping to win a mega million. I play five dollars on Thursday evening, my aunt play twenty dollars and my friend play fifteen dollars. On Friday night during the drawing we were watching TV, but when the number came out none of us had it and I was saying if I had know I would have play a dollar.

If I would have won the lottery, I will buy a big building apartment to rent it out, buy a big gorgeous private house and stay there with my husband, help some homeless people to make up their life, give out some couple of thousands to the poor people, open different kind of stores for business, help some of the student who wants to go to college and could not afford their tuition and take care some of the kids who are abandoned by their parents.

I would have keep two millions in my bank account, give out two millions for the poor peoples, homeless, abandone kids and the students, spent two hundred and fifty six millions on my private house, building apartment and the stores that am going to open for business.

The downside to this good fortune is, I will see different kind of faces, and some people will try to kill me to take my money. Where ever I go I must be with a security guard for my protection. I will not have anything in privacy because people will follow me where ever I am.

The only thing am going to do with strangers approaching me is, if they ask for money am going to tell them you might have to come back next week and before they come back am going for my vacation in London to stop people coming see me and enjoy myself. After the vacation in London am going to live in a different area.

I don’t think it is possible to win a hundreds of dollars of millions of dollars and keep your personality, values and outlook on life intact. They always announce the five richest peoples on TV. That means there will be no privacy for all the richest people in the country.

I am always hopeing to be a lottery winner one day that would be the happiest day of my life.what would i do with all that money first i would be taking veary long vacation; then i would go shopping buy me my own private jet maybe two then make some major real estate investment.also put a few million away for my grand kids college and future life say about three million each
The only thing is on the down side i would be fealig so bad alot of people would be expecting me to be giving out money to them like im santa clause with a gift bag on my back.no its not possible to have all that money and still keep your personality value because once u get that kind of money every thing about u change u cant live in the same nabourhood no more.

winning the lottery what will i do?
1. i would be the Happiest person, in the universe.unfortunately, no luck this time. neither for family or friends. with much hope to win.
what i would do.if i won the lottery? depending on the circumstances.to become debt free,help my Childrens & families with their finances. donate to food bank.and cancer Organization.and purchase a Beach condo,in Florida.!
perhaps,i would save at least 1/2 of the amount.give away 20%. invest in Properties.and live on interest.
the downsize theory.could have an impact on your life.such as spending like crazy.without acknowledging it. Because winning large sums of money,can really bring total life changes. like threats. you can really lose self realities, if you’re not careful. Legal turmoil & personal tragedy.
Dealing, with the situations i would remain Anonymous. keep away from the internet & public.if Strangers approached me for money. i would advise them to see my lawyer. trying to keep my distance for safety.
Do i think it possible to win? and keep my personality,values,outlook on life intact? yes, i do but things would definitely change. because money changes peoples. it depend on the person.and their values in life.it’s nearly impossible to remain the same as a Human being. Instant large sums of money, can cause a different Outlook on life. whether it’s good or bad, it depend on the individual Person. and their life styles..most of all Sharing is Caring.!

agina, very well done

What Would I Do IF I Won The Lottery?

Before I will start giving my money away. I wil firtst analyze how much money I won and see how much money I will invest. You cant reallly start going crazy giving your money away if you dont have a plan.

Having so much money can bring alot of problems. You have to live your life saying can I trust this person or not. When you have so much money every one will be asking you for some. And if you dont they will get offended and that person will be come your enemy. Your life will totally change.

The way I will deal with the strangers asking me for money is. I will help who ever I can. You cant go around helping everyone.What happeneds when you run out of money. I Will try to involve myself in charities organizations to help the ones in need.

I think is possible to win all that money and still be the same person. You canot let fame or money get to your head. Yo need to stay focus and remember that money does not last forever just enjoy your life and do good.

I’m pretty late but i just turned 18 and played the lottery for the first time.

What would you do if you won the lottery? If i won the lottery I will definitely hire a financial adviser. I would move my mother and two sisters out of our apartment in NY to a House in Florida. I would make it my priority to assure that my Mother and Sisters are financially stable for the rest of their life’s. What do you see as the downside to this good fortune? The only downside i can see would be for my family to divide because of problems that money can bring. How much of the money would you save, spend and give away?
I would save 65% of the money and invest just enough so that i can live from interest. I would spend money on a new home for my family. I would purchase four cars, one for my mother, two cars for my sisters and one for myself. I would donate money to my local church and help them purchase instead of renting our current church. My situation is a little different because my father abandoned us when i was 4. The only people in my life are my mother and sisters. They are the only people that will see cash. I only have one friend and that’s my girlfriend of 5 years. I would pay her entire college education and definitely marry her. I would help her parents if they need help. I would not give any money away to any foundations. Surprised? Foundations have never helped me with anything!
How would you deal with situations like strangers approaching you for money? This is a tough one! I wouldn’t help everyone because no one is here for me now. It will all depend on the circumstances. I am not very sociable so friends are not something on my bucket list. Do you think it is possible to win hundreds of millions of dollars and keep your personality, values and outlook on life intact? With millions of dollars everyone will change but that’s were growing up comes in. I wouldn’t treat anyone with any disrespect. Money is just a material that will make life more comfortable but you cant take the money, cars or jewelry with you when you die. In conclusion I would personally pimp my family out a bit. New home, cars and education. I would get married and probably get into real estate because i love houses. Ill marry my high school sweet heart and have a bunch of children(Yes i would sign a prenup lol). If i don’t win the lottery i will continue with my studies and help my family the old fashion way. 🙂

First I would pay my son back for buying me a house, then I would remodel my house,pay off all my bills so I could move to Indiana to spend time with my 95 year old sister who I just found out I had I would spend every second I could with her since I missed out on most of her life, I could retire at 62 and I would help other people who are laid off like I am. I would also like to help at risk KIDS because everyone should have a decent life.

Hmm it seems like your site ate my first comment (it was extremely long) so I guess I’ll just sum it
up what I wrote and say, I’m thoroughly enjoying your blog.
I too am an aspiring blog blogger but I’m still new to the whole thing.
Do you have any suggestions for first-time blog writers?

I’d genuinely appreciate it.

I would tell them that much of my winnings went to the state in the form of taxes for the purpose of distributing funds to Welfare recipients. B4 that happened? I’d move somewhere else. Lol.

I would tell them that much of my winnings went to the state in the form of taxes for the purpose of distributing funds to Welfare recipients. B4 that happened? I’d move somewhere else but not before taking care of my family and wonderful friends first. Lol.

What would you do if you won a lottery? Sample interview answers

Show me a single person who has never dreamed of picking the right numbers, and winning a lottery. Main prize, big payday, ten million at least. Finally a chance do dash the job you’ve hated for so long, to pay your debts, to buy the things you always wanted to own, and to enjoy a dream life–or at least your vision of a dream life…

Just like with so many other things in life, however, the visualization of a dream is typically better than the reality of it. Because man is a creative creature, there is more happiness in giving than in getting, and a life on a deck of a sailing boat, or in a shade of an umbrella on a tropical island with a glass of a fresh orange juice in your hand (or in a hand of beautiful lady), gets boring after a few weeks, or after a few months.

Anyway, it is an interesting interview question, and an interesting topic for an essay at school, because your answer tells a lot about your maturity, attitude to work and life, and also about your motivation and loyalty to the employer. Let’s have a look at some interesting sample answers. Do not forget to read also the notes below the answers to understand how to make the best impression on your interviewers.

7 sample answers to “What would you do if you won a lottery (a million dollars)?” interview question

* Do not forget to check also : Great answers to 15 most common interview questions.

Ensure them that you do not work for money only

Saying that you’d quit your job immediately after winning the lottery is the same like saying that you work only for money. And you should never make such an impression on your interviewers.

Tell them that you see a meaningful purpose in your job or profession, and would stay in the field, regardless of your bank account balance. Of course, you might change your position if you won a million, let alone ten million. Instead of working for a company you might start one, or you might actually work for free in a place of your choice.

But you won’t simply stop working, and enjoy the rest of your life traveling and spending money on expensive and shiny things. At least that’s what you should say in an interview ;). What you would do with the ten million in reality should remain your secret…

* Special Tip : This isn’t the only tricky question you will face while interviewing for any decent job. You will face questions about prioritization, dealing with pressure, dealing with ambiguity, and other tricky scenarios that happen in the workplace. If you want to make sure that you stand out with your answers and outclass your competitors, have a look at our Interview Success Package. Up to 10 premium answers to 31 tricky scenario based questions (+ more) will make your life much easier in the interviews. Thank you for checking it out!

Having a lot of money is not bad–as long as you want to use them to make some positive change in the world

Another option is referring to some positive impact you want to make with your money. Perhaps giving them away to an NGO, or start a non-profit organization yourself, or just contribute here and there, perhaps with your work when you now do not need to care about the bills anymore.

Ensure the interviewers that you are well aware that money doesn’t bring happiness. Using money to help someone, however, or to make some impact in the world, or in a local community, can bring happiness to your life. And that’s exactly what you would try to do with your lottery winnings. An essay offers an opportunity to describe this in detail, picking a particular cause you’d like to support with your money.

* Another tough questions you may face : Why shouldn’t we hire you?

Investing money and saving for worse days is also a wise choice

You do not necessarily have to say that you would give money to charity, in order to make a good impression on the hiring managers. Many of them would not believe you anyway 🙂, unless you have a proven track record of working for charity or contributing money to support some good cause regularly.

You can say that you’d invest your money, in stocks, real estate, commodities, simply in things that will likely grow in value in next decades, and bring you some nice residual income. But you would not quit working and enjoy an early retirement. That’s not your style. You would continue in your field, just you wouldn’t need to get paid for your work anymore. That’s a great feeling and it gives you a lot of freedom in your choices…

Ready to answer the question about winning a lottery? I hope so! Check also 7 sample answers to other tricky interview questions:

How to Answer ‘What Would You Do if You Won the Lottery?’

Have you ever come across this interview question before? Here’s how to ace your answer!

Careers Coach and Writer

When preparing for an interview, it’s sensible to practice answering sample interview questions to demonstrate your professional aptitude and skills relating to the role you’re interviewing for.

There are numerous interview questions, but I’m willing to bet that you have never practiced your answer to the question ‘What would you do if you won the lottery?’

If you are here because you’ve been asked this at a recent interview and were stumped, or you’ve heard about it and you’re wondering how to answer such a seemingly unrelated question, then let us help you out and make sure you’re ready for your next interview.

Why hiring managers ask this question

This might seem like a peculiar thing to ask in the middle of a serious interview but there is good reason why hiring managers ask this question.

Your answer gives a lot of insight into your personality. Talking about what you would do if you had an abundance of money allows the recruiter to understand you and your values better and determine whether you would be a good fit in their team.

However, this question may not be as tricky to answer as you think. The interviewer is not interested in what car you’ll buy, or whether you’ll install a swimming pool or a home cinema in your house. They want to know more about your commitments and motivations. Are you the sort of person who is committed to a cause and really cares about their career, or is making money your only objective when it comes to your job?

How to craft a response

You need to give your answer some thought. You want to make the right impression about your commitment to the role and the company.

Career coaches often use this question on clients who are unsure what they want to do in their career, because it really allows them to think about what is important to them when money isn’t a factor.

Giving some genuine thought to the answer in advance will help you during your interview but may also allow you to have a clearer image of your career goals overall. Here are some top tips to consider when crafting a response:

1. Be authentic

This is your chance to let the interviewer know what’s important to you. Be honest about what drives you and engages you, and what causes you would support.

You can say that you would take some time out to travel or volunteer for a cause that you’re passionate about but find a way to link your answer to your career as well, showing that you would still be committed to it, regardless of if you got your hands on a ton of cash.

Be careful not to make big claims like ‘money isn’t important to me’ in an effort to impress the employer. They will see straight through your answer if it is not sincere.

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2. Show your interests

This question makes a great opportunity for you to talk about your passions. If you have a hobby or interest that you would invest in, this will highlight your dedication to things you care about.

Maybe you have always wanted to visit a certain country, or learn a new skill? Perhaps you have a passion for something like sailing, and the money would allow you to buy your own boat and equipment. Maybe you love football, and a lottery win will allow you to sponsor your favorite team. These are excellent examples that will provide the hiring manager with some details about you and your motivations.

3. See the bigger picture

Try not to just focus on the now when constructing an answer. Think about steps you would take that would impact your future in a positive way. Consider the ways winning the lottery could change your life and how you would manage that. You could mention that you would put the win towards your savings or look into investing a sum so it would benefit you more in the long run.

You could also emphasize that you would keep a low profile so there is minimal disruption to your current life, if that’s your aim. This shows the interviewer that you are not impulsive with your decisions and that you are able to think ahead, which is an admirable quality for an employee to have.

4. Show your desire to help others

Part of your answer could address how you would use the money to help others. This could include helping friends and family or supporting a cause that is important to you. That said, it’s vital that your answer should be genuine and honest.

If there is an organisation that has impacted your life in a positive manner, you can mention why you want to give back to them. When answering this question, it’s important that you consider how the money could be used in a way to benefit others, rather than just spending it on material possessions. Again, this could indicate that you are a caring and generous person that would work well within a team.

5. Think about growth

Showing that you are committed to your personal growth and development is very desirable.

Mentioning some form of continued learning as a result of having more funds will look good to an employer. The development opportunity you choose may be related to your career, but it could also be a commitment to expand your knowledge in other areas of interest.

Being an agile learner who is always willing to develop their knowledge and invest in their skills is an important quality, so be sure to illustrate how winning the lottery would allow you to pursue more educational opportunities.

6. Mention how it would relieve stress

A valuable response to the lottery question is demonstrating how a lottery win could mean having more time to do more of what is important to you, without the stress that comes with having to make a living.

Instead, it could help you refocus and do your job for the love of it, rather than in an effort to make money which can ultimately take the enjoyment out of it. Be careful how you approach this, however; you don’t want recruiters to think that you are unable to manage your finances or that the only reason you do your job is for money’s sake.

7. Paint a vision

An employer isn’t naïve enough to think that if you won the lottery you might stay in the role you’re applying for forever, especially if the role is a steppingstone in your career.

That said, showing that you would still be devoted to your career is worthwhile. For example, if you are going for a role as a veterinary assistant, you could say that you would use the money to go back to college to become a veterinarian. This shows that you have a vision for the future, are passionate about your career path and have ambition to progress.

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Example answers

In case you are still unsure about how to answer this question, consider these example responses and use them as inspiration when crafting your own.

1. Advancing your education and development

Education is very important to me. I believe that I have gotten where I am partly through my desire to learn more and gain new qualifications.

Having more money would mean I could continue to do this, instead of worrying about the cost of each course and whether I really ‘need’ to do it to advance my career. I could continue to learn for fun, and I would also have the means to invest further in my children’s education without any financial burden.

2. Being devoted to your career without financial stress

Winning the lottery would relieve me from financial stress in my life. I would be able to work for the love of what I do and support causes that are important to me, without worrying about needing to have a steady income.

I feel purposeful through my work and being able to continue doing it while having financial freedom would allow me to devote myself to this role without external worries.

3. Investing your money for long-term stability

I have always been interested in investing but was weary about being able to afford it and nervous about taking a risk.

Winning the lottery would give me the means to learn more about investing in the stock market and building an investment portfolio. This in turn will allow me to be wiser with my income and save up in the long run. By having this financial stability, I would also have the funds to support causes that are important to me, and to help my friends and family.

Final thoughts

Whilst this might seem like a very strange interview question, your answer will say a lot about you.

In an interview, it’s a great way to show off your values and what is important to you, demonstrate your commitment to different causes and show your dedication toward your career and development.

So, make sure to take the time to think about your answer to this question in advance, as this will be highly beneficial during your interview.

Additional resources

Need more interview tips? Check out our helpful guides:

Join the discussion! Have you ever been asked this interview question? How did you respond? Let us know in the comments section below.

This article is an updated version of an earlier article originally published on 9 July 2014.

What would you do if you won the lottery?

I was thinking about this question after reading an article in a magazine about setting goals. The article had four steps for setting goals, and six steps for meeting them. Included were your usual tips for visualizing your goal, writing it down, and making a plan of action to meet the goal.

The article made a good point to imagine how meeting the goal will make you feel. Will it make you happier? The article then went into a discourse on me… or rather dreamers. Those people who sit around dreaming about meeting goals, but not doing anything about it.

So that got me thinking. I’m very good at thinking about what I would do if I ever won the lottery. But what would I REALLY do? I can’t constantly travel, backpack, mountain bike, party, play soccer for the rest of my life (but I’m sure I could make a good faith effort).

Here are the things that came to mind:

And the list goes on and on. The point of this excercise is to ask myself, if these are the things that would make me happy, what’s stopping me from doing them right now? The answer is that nothing is stopping me. I don’t need to wait to win the lottery (which will happen I tell you!). In fact, I’m already doing all these things to one degree or another.

Granted, I have a lot less time and resources to accomplish these things. Since I have to pay the bills with a J-O-B (and since I have a nasty habit of needing 8 to 9 hours of sleep a night), I can only devote a small portion of my time to Philanthropy (because you knew that’s what I do in my spare time, didn’t you. Didn’t you?). Thus I have to settle for a less nice house, a less nice car, less time to go to the gym, etc…

Now before you go off thinking “What a freakin’ whiner!”, I’m not writing this as a “woe is me” diatribe. My point is that I am very fortunate to live in a time and place where I can meet all my goals (though not as fully as I may wish) without winning the lottery or selling my firstborn. But in order to do that in a more fulfilling manner, it’s important to reflect on what more specifically are my goals and why would they bring me fulfillment and then make a plan.

So what would YOU do if you won the lottery? Discuss amongst yourselves and comment!