9 reasons not to quit your job after winning the lottery
Dreams and reality are two different things. As tempting as it may be to quit your day job after a lucky win may make the daily grind unnecessary, you would be wise to seriously consider it. Here's why you shouldn't quit your job after winning the lottery.
1. Give yourself time to think!
As soon as a big win comes along, many people start dreaming of quitting their jobs. Take the eurojackpot where 5 out of 1 hits means a €120,000,000 prize, which is more than 4 billion forintscalculated at the mid-market euro exchange rate
There are countless stories throughout the world of lottery winners who have not found happiness by simply giving up their previous livelihood and pursuing a life of luxury. On the other hand, there are numerous examples of lottery winners who have kept their old jobs and remained content, especially if their work is their passion.
The first reason why you shouldn't quit your job immediately after winning the lottery is that it gives you time to think seriously about your new position. Time to think wisely about how best to invest your newfound wealth.
If you are given a large sum of money, never, ever act impulsively!
2. Most lottery winners, given the chance, choose anonymity, and for good reason. Nothing rings alarm bells more than someone who, out of the blue, decides to quit their job for absolutely no reason. Even more suspicious is if you decide to quit and then spend lavishly, buying lots of expensive things - this is bound to be very suspicious to your friends, family and colleagues. 3. Don't get cocky! If you suddenly find yourself in a lucky position and start spending like there's no tomorrow, it could change not only the way you're judged by others, but also your own mindset. It's a classic scenario, money goes to people's heads. It's natural to want to cut up, but some people take it to the next level and worse, start disrespecting and mistreating others. It's never good to look down on others, just because someone is richer than someone else doesn't mean we are superior to them. By keeping your job, you can keep your feet on the ground and earn the respect of your colleagues. 4. Having money doesn't automatically make you rich If you decide to quit your job and move up the millionaire ranks, you may be in for a big shock. For those who have made their millions the hard way, at least to some extent, you will be considered unworthy. As for those who were born into money, for them you will always be new money, "that lottery winner." If you make a rash decision, you can find yourself in a situation where you feel like an outsider among the rich, while losing touch with the people you once cared about, including friends and colleagues. 5. A sense of achievement You won by sheer luck, for which you should be grateful, but ultimately it is a fluke, not an achievement. Work can help you find a sense of pride. If you're not getting that in your current job, now is the time to make a change. You have all the financial safety net you need to pursue the career you've always dreamed of.
Just keep in mind that lottery winner or not, no one is going to want to hire someone who left their previous employer and let their boss down.
6. Reckoning
Many lottery winners overestimate how much they have won. Ten to twenty million forints may seem like a lot, but it can be easily squandered if you start spending recklessly.
The wisest thing to do is to calculate how much it would cost to buy a house, factor in other costs such as a new car, renovations, holidays, smart investments, looking after your children, etc.
You may have everything you need for a lifetime, but you'll still be happy with that monthly income, especially if you're already living on a decent salary.
7. Reality
You can stare at all those zeros at the end of your bank account balance and easily feel overwhelmed. Having a job and still having one foot in the door helps you appreciate how much money you have.
Calculate a household budget to understand how much money you earn and spend before you win the lottery. How many years would you have had to work to earn the amount you won? Now add up your expenses and calculate the net time. It's easy to see that, depending on how much you won, you could have had to do the same job, day in, day out, for centuries!
In other words, if you sit down and really do the math, you put things into perspective.
8. Don't isolate yourself!
People are social beings by nature. If you quit and don't work, you can end up feeling terribly lonely.
You may seek the company of others in a social setting, but if you work with others, you may succeed in developing stronger, more meaningful bonds with your colleagues.
You may have built up a genuine friendship with your colleagues over many years, but money can never buy real friendship or respect.
9. Learn, grow!
Let's be honest; we all want a better life, but a better life does not equal laziness. We need to be challenged, to grow, to learn and to keep our minds busy.
By continuing to work, we keep our minds and bodies active, which is always important, no matter how much money we have.
Go or stay?
Finally it's up to you whether or not you quit after winning the lottery, only you can decide what's best for you, but there are important factors to consider.
First of all, it depends on how much money you actually won.
If you've won millions, you may have enough money to live comfortably without a job, provided you invest wisely and keep your finances under control. It is always a good idea to seek professional financial help.
If you haven't earned enough to live on forever, you can still quit your job to invest the money in a business or change careers, but it's still important to have a nice amount set aside in your bank account.
If you're already well off financially and have built a good career or are making progress in your career, is it really worth giving up? Especially if you enjoy your job and get on well with your colleagues.
You may want to quit your job if you are unhappy or unenthusiastic about it. In this case, a lottery win could give you the opportunity to pursue a more satisfying career or pursue a passion, such as writing a book or learning a new skill
Whatever you choose, it's important to have a purpose in life. In fact, the Japanese, especially the Okinawans, are among the longest-living ethnic groups, which may be related to their diet, but also to the concept of "ikigai", the idea that everyone needs a purpose in life.
Whatever your situation, never rely on the lottery as a means to solve your financial problems.