Why Winning The Lottery Won’t Make You Happier Video



Winning the Lottery


Sure everyone wants to win the lottery but it turns out winning it can have some pretty negative side effects. John Iadarola and Hannah Cranston discuss on the happiness of lottery winners. If you won the lottery what would you do with the winnings?

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Every day ThinkTank challenges preconceptions, exposes amazing new facts and discoveries, explores different perspectives, and inspires you to learn more about the world and the people around you. Feed your brain with new videos every day at 12pm Eastern/9am or you’ll miss out! up to date with John Iadarola and Hannah Cranston
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three people just one are gonna split a 1.5 billion dollar Powerball jackpot but maybe there’s a downside yeah it wasn’t me so yes it sounds good to suddenly have hundreds of millions of dollars but maybe lurking below your wealth under the piles of cash there might be a bad side effect we believe that science has uncovered one you might have heard this before but especially when you are sad that you did not suddenly win the Powerball it’s important to bear in mind that you might not be that much happier have you won it and so this is some classic research that compared the outcomes after a period of I think about six months of people who had won the lotto had suddenly become wealthy beyond their therefore most fabulous dreams and then people who had been in horrific accidents and paralyzed as a result and so how did that actually affect them after about six months well on average the winners a lot of winners ratings of everyday happiness was about three point three three out of five and the accident victims average dancers were three point four eight actually higher than the people who won the lotto now lottery owners did report more present happiness overall not like about everyday little things about four out of five which is a point higher than the victims but as the authors note the paraplegic ratings of present happiness is still above the midpoint of the scale which seems somewhat arbitrary and the accident victims did not appear nearly as unhappy as one might have expected and so as you asked them overall how happy you are people who won the lotto say that they’re happier although they might be doing that because they think they’re supposed to yeah I think of other life while I did win the lotto but when you say like as you go about your day how happy do the things you do make you there a little bit less happy than people who had been in an accident yes so so it’s really interesting here is that so for the first few months after winning the lottery available like report a higher waiter happiness because they’re like still in that sort of like excited state but then and some psychologists have this theory that you sort of like return to your sort of baseline state of happiness no matter what external things happen to you and by the way I did a video about this and the other negative side effects a lot of what you can watch here on my personal channel that’s oh that’s why you were that okay well let’s talk about that effect you go back to the baseline because you have your words but I’ve got a cool picture over some water so it’s partially the effect I was talking about because what’s become known as the hedonic treadmill or hedonic adaptation that annoying tendency humans have to get used to the things that once made them happy and this is why sort of anecdotally and they asked I have brought up that I felt growing up when I was in high school in college when I saw like people that I know get really nice cars bought for them I felt like they were being sort of screwed over because if you have a BMW bought for you for when you’re 18 that is now the baseline for what do you expect out of a car and after six months it’s the most normal thing in the world for you to have a BMW it’s not like you sit down you’re like yeah I prepared bucking w and then when you go out and have a job and have to buy your own car what are you gonna buy that’s actually gonna make you happier sorry but but but that’s the whole point is if you’ll eventually no matter what you buy you return to your baseline so it doesn’t necessarily mean let if you start and build up your building your happiness no I think I think that that doesn’t a bit you could build up over the course of four car purchases by and be a BMW and along the way you get to experience relative happiness from even something as humble as a Chevy spark or you could do other things that no just cars there isn’t anything else I’ve looked into it I’m older than you I know there’s only cars okay it’s true um no I mean here’s the thing is so if you let’s say there’s everybody has this basic state of happiness it’s all relative right so so for people who are in less fortunate financial situations something as small as like a new bike or something like that could be get them to an increased happiness of another bike recently no I like bikes to for a short period of time the same way that somebody who’s really really but you can start to afford a Ferrari might experience the same amount of happiness for that small period of time but I think what’s important to remember is that once you get so if we’re talking about if we get to like Maslow’s hierarchy like once you sort of past that whole like okay you have a roof your head you have food maybe you can like pay for your kids education and things like that oxygen yeah yes okay I can pay for oxygen and things like that money isn’t gonna make you so much so much happier to change your whole life and everything but that’s important to remember yeah so people don’t have to stress about it is yes yeah I think it’s very easy for us to see their like glamorous lives of rich people are imagined that everything is so much better but like I spent a lot of time with really big celebrities and I can say if they lead regular normal lives like everybody and if it was like to think about think about if you were rich and you can buy anything you want and so you buy a Ferrari and you can go on a trip to Japan and you have a gigantic house like you do those in that order yes okay so you can do all this like you go to a restaurant but you’re still just eating food like most people really like eating Chipotle when they’re drunk like or like eating like a pie that costs eight bucks like you can get a lot of pleasure from food without spending a thousand dollars or you buy the Ferrari okay but you still are only driving two places and you’re driving yep people you have to put somebody in the car yeah do you like the people you put in the car are you suddenly surrounded by people who only want to be in it because it’s a Ferrari and they’re gonna be fake to you you can take a trip to Japan but you still have to go with people do you enjoy their company do you get bothered by delays in your flight like these normal things that are much more based on how you approach life your sort of mental state of mind it’s like the the things around the periphery I don’t think they matter nearly as much and we say that we are happy no I totally totally agree with you and I think people kind of like lose that in the way that our society works cuz I do think it’s really important to think about like how you you choose your happiness it’s not money that makes you happy it’s not anything external that makes you happy okay so you choose that you choose that includes choosing the people who decide to surround yourself with and things like that but I think that the I’m kind of like the opposite end of the spectrum I think a lot of people pick well they’re really rich so they don’t they shouldn’t be complaining or they shouldn’t have problems or anything like that but if if happiness is relative and all that like everybody has problems and everybody maybe they’re not at it so feels bad for them maybe they’re not as great and his life threatening is some other problems of course but everybody has problems money doesn’t buy you happiness what else what other cliches can I say while we’re here I think it finds ok I do I do have one bit of advice though for people who get who in a lot oh and I came up with this at trivia I think this week maybe it was with you will see if you say you were told me that um a lot of people who win the lotto suddenly find themselves surrounded by friends and family who want money from them and they find over time that having people just come and take money from them wears on their that causes paranoia and suspicion and all of a sudden you you’re still surrounded by the people that used to know and all of them aren’t rich and you’re rich and they don’t understand you and so I came up with a plan instead of waiting for them to come to you asking for money give them like fifty million dollars each to all of your friends and family around you because then all of their friends and family will start asking them for money and then you commiserate about how much people just want them for their money can I be one of your friends if that’s your game plan No. .

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