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Most people work but most dont necessarily have to, at least as much as we do. You need to spend your time doing something. If you aren't spending a good chunk

Most people work but most dont necessarily have to, at least as much as we do. You need to spend your time doing something. If you aren't spending a good chunk of it making money, you may be spending too much of it blowing through money out of boredom. I hypothesize that this is a significant part of why 2/3 of lottery winners are bankrupt within 5 years: They quit their job and start spending like there's no tomorrow. And then, oops, the money shockingly doesn't go very far when all you do every minute of every day is spend money like a drunken sailor.

sokoloff 5y ago
Another part might be the people who play the lottery a lot are more prone to win than those who play rarely. Those who play the lottery a lot are probably not the most financially/mathematically savvy to start with, so if they win, they’re not likely to suddenly turn into Mr Money Mustache.
- DoreenMichele 5y ago
  I think another major factor is that people imagine winning the lottery will solve all their problems because they feel like "money" is their single biggest problem and if that would go away, their life would work. In reality, they trade poor people problems for rich people problems and don't have rich people coping skills. They run out of money before developing them or they resist developing them because they are hesitant to be that cynical and jaded and they run out of money trying to prove to themselves that life does not boil down to "I've got dozens of friends and the fun never ends, that is as long as I'm buying."
wvh 5y ago
> You need to spend your time doing something. Exactly. It might be hard to find peace and a sense of meaning in life without having some sort of responsibility, even if one thinks ultimate freedom is the lack of responsibility. In some ways, I imagine being rich (without that being the almost coincidental side effect of a strong passion) and especially winning the lottery is for many going to be like throwing money into a bottomless pit. Though that doesn't necessarily mean I would mind giving it a try...

sokoloff 5y ago

Another part might be the people who play the lottery a lot are more prone to win than those who play rarely. Those who play the lottery a lot are probably not the most financially/mathematically savvy to start with, so if they win, they’re not likely to suddenly turn into Mr Money Mustache.

DoreenMichele 5y ago
I think another major factor is that people imagine winning the lottery will solve all their problems because they feel like "money" is their single biggest problem and if that would go away, their life would work. In reality, they trade poor people problems for rich people problems and don't have rich people coping skills. They run out of money before developing them or they resist developing them because they are hesitant to be that cynical and jaded and they run out of money trying to prove to themselves that life does not boil down to "I've got dozens of friends and the fun never ends, that is as long as I'm buying."

wvh 5y ago

> You need to spend your time doing something. Exactly. It might be hard to find peace and a sense of meaning in life without having some sort of responsibility, even if one thinks ultimate freedom is the lack of responsibility. In some ways, I imagine being rich (without that being the almost coincidental side effect of a strong passion) and especially winning the lottery is for many going to be like throwing money into a bottomless pit. Though that doesn't necessarily mean I would mind giving it a try...