What Really Happens When People Win Big Lottery Prizes?

A study of Swedish lottery winners found that people who received large prizes generally kept their wealth over a 10-year period. Many remained employed, although they took more time off work. The winners also maintained or improved their happiness and mental health. This challenges the popular claim that most people who suddenly receive a large amount of money lose it within a few years. The National Endowment for Financial Education has also said the widely shared “70%” claim was falsely attributed to it.

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