Would You Still Work After Winning The Lottery?

You’ve always dreamed of winning the lottery – a dream shared by many. You have a couple of lists of things to buy when you do win the lottery hidden somewhere. You also have a list of things to do after winning. If you’re like most people dreaming of winning it big in the lottery, you have one thing encircled – quit your job (after cursing at your boss and laughing your way out of that hellhole).

Pros and Cons of Working after Winning Millions in the Lottery

Working after winning has its pros and cons and it’s important that you know them so you can make a better decision as to whether you’ll work or not. To start, here are the pros of working after winning the lottery:

• You can continue doing what you love doing.

Of course, this is provided that you love what you do for work. There’s no reason for you to quit if you’re a playboy working with models on a day to day basis.

• You can continue earning money.

Even if you’re already a multi-millionaire, why would you say no to additional money? This is especially true if you’re already earning a lot of money in the first place. I don’t know about you, but $100,000 a year is nothing to scoff at. At the very least, you’ll have $100,000 for expenses and your lottery winnings to play with.

• You can understand the value of money.

Do you want to know why a lot of lottery winners end up losing everything in just a couple of years? It’s because it’s easy money. Winning the lottery gave them money that they didn’t work hard for. This is why it’s very easy for them to waste it all away.

On the other hand, if you continue working for money, you’ll understand the value of money. Even if you didn’t work hard to be a multi-millionaire, you can continue working hard for money so you can understand the value of money.

• You can settle down before deciding what to do with your winnings.

Don’t use the money right after winning the lottery. There’s a good chance that you’ll make very bad decisions, like that one lottery winner who decided to give a huge percentage of his winnings as gifts to family and friends. You can place your winnings in a safe place, like in a bank, and you can continue working. This way, you can settle down and not let excitement be a deciding factor in your decisions.

• Your winnings can earn interest.

Your winnings can work for you even if it’s just deposited in a bank. You can also invest it in a low-risk investment like treasury bonds. Just use your work earnings for your expenses. Isn’t that what you’ve been doing before you won the lottery?

What are the cons of working after winning the lottery? Here they are:

• You can’t focus on work.

Really, how can you focus on work if you know that you can slap your boss with a bundle of cash and get away with it?

• You risk people knowing that you won the lottery and people taking advantage of it.

It’s a good idea to let just very few people know that you just won the lottery. Soon enough, your colleagues will be asking you for a loan or they’ll be presenting you with “can’t miss” business ideas.

• You can miss out on a lot of good opportunities.

It’s a good idea to invest your winnings. For example, you can invest it in a business. If you surround yourself with investors and other entrepreneurs, you can be exposed to these opportunities. What opportunities are you going to get if you’re still doing the normal 8 to 5 grind? Surely, you’re not looking for an opportunity to go up the “corporate ladder”?

Experiences of Past Lottery Winners

Winning the lottery didn’t stop a lot of past lottery winners from working. Unfortunately, it’s a necessity because they already lost all of the money. However, there are past winners who continued to work even after winning.

For example, there’s Ron Elliot, who continued to work even after winning £8 million. The 67 year old works in a care home and explain that his clients need him and this is why he decided to continue working. In addition, according to a survey done last August of 2013, 69% of Americans would continue working even if they win $10 million in the lottery. Of course, answering a yes/no survey is different from holding a check for $10 million.

What Should You Do?

Follow your heart after winning the lottery. It may sound corny, but what else can you do? Make sure to follow your brain as well. This means spending the money wisely. If you love your job, continue working. At the very least, continue working until you’re ready to make your winnings grow. Set up businesses so you can employ other people. Just make sure to surround yourself with people who have your best interests in mind.