Why You Don't Have to Win a $1.6 Billion Lottery Jackpot to Be Rich & Happy

Be Wealthy & Smart

Linda P. Jones

News, Business News, Investing, Business

4.8 • 883 Ratings

🗓️ 22 October 2018

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

Learn why winning the lottery jackpot isn't necessary for you to have financial freedom or be happy.

There is a happiness satiation point, usually around a $105,000 annual income, according to research (see podcast #414).

More money doesn't make you happier, but spending does give you a temporary high. The endorphins only last a few days, requiring you to continue spending to keep the endorphins flowing.

This can end badly and has for many lottery winners.

Instead, take control of your wealth building and follow the 6 Steps to Wealth, especially saving a nestegg, investing in a money engine and compounding at a high rate.

I give an example from the Wealth Heiress book of 2 people earning the same amount of money, but because they make different choices, one ends up broke, the other, a millionaire.

This could be my edgiest podcast yet! Don't miss it!

Wealth requires knowledge + action.

Get my book, "You're Already a Wealth Heiress, Now Think and Act Like One: 6 Practical Steps to Make It a Reality Now!"

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Transcript

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0:00.0	Be Wealthy and Smart, episode 473. If y'all know what I mean put your hands up and declare with me
0:13.8	Yeah, I'm full of pay hey time I'm gonna live the good life
0:20.8	and you're gonna live the good life
0:21.3	and you're a glorious light Step into a world of wealth and financial freedom without budgets, boredom or bosses on be wealthy and
0:30.3	bosses on be wealthy Wealthy and Smart. And now here's your host, Linda P. Jones.
0:38.0	Welcome to Be Wealthy and Smart. I'm Linda P Jones, America's Wealth Mentor. Empowering
0:42.3	Women and Men Worldwide to financial freedom.
0:45.0	On today's show we're going to talk about why you don't have to win a 1.6 billion dollar
0:51.1	lottery jackpot to be rich.
0:55.0	And I wanted to talk to you about this because in the news is the huge jackpot that is available for some lucky winner. And of course we all fantasize
1:06.7	about how exciting it would be to be an overnight billionaire and be able to buy whatever you want,
1:16.4	live in a huge mansion, have amazing cars or yachts
1:21.0	or travel or clothing or whatever it is that you fantasize about
1:26.0	It seems like that would be the ultimate happiness that you could have anything that basically you could afford at all.
1:36.0	But if that were really true, then why is it that people in the past that have won the lottery have actually become so miserable that they become
1:47.2	drug addicts, they've gone bankrupt, they have committed suicide, they've lost their families and their relationships.
1:56.7	And I don't mean to be Debbie Downer because I know it's exciting to think about winning the lottery, but the reality is very different from the fantasy
2:05.7	that's really my point so why is that why is it that we think that all this money would make us happy, but the reality and the statistics
2:18.4	show just the opposite? Because the statistics show us that people actually, no matter what the amount of money is, go through
2:27.4	it in about five years.
2:29.2	It's all gone.
2:31.2	And they often do end up bankrupt because they spend spend
	...

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