Winning the lottery: probability and social impact

Winning the Lottery

Almost every individual has dreamed about winning the state lottery and having millions of dollars to spend. While some individuals have elaborate fantasies of what they would do if they won the state lottery, others have more generalized notions. Examples of common visions individuals have about winning the state lottery include buying new car or house, making donations to charities, quitting work, traveling, etc. However, few individuals are truly prepared for the drastic changes winning the state lottery will bring to their lives. This paper analyzes and examines the potential effects winning the state lottery would have on me.

EFFECTS OF WINNING THE LOTTERY

For the purposes of this discussion, it will be assumed that I won $30 million in the state lottery. Winning $30 million in the state lottery would most likely result in a plethora of emotional, financial, personal, and social changes in my life and the lives of those closest to him or her. Some of these effects and their likely impact on me are analyzed and examined below.

First, winning $30 million in the state lottery would provide me with the opportunity to instantly achieve what most individuals have to struggle numerous years to achieve, i.e., financial independence and security. In other words, assuming that I take appropriate measures to conserve, invest, preserve, and save the bulk of his or her $30 million state lottery winnings, I will be in a position to not have to struggle to pay bills and worry about making ends meet. Being in this position would relieve a tremendous deal of stress from my life as most individuals spend the majority of their lives working just to make ends meet. In addition, winning $30 million in the state lottery would enable me to provide financial support to my immediate and extending family, thereby sharing the good fortune with others.

Next, winning $30 million in the state lottery would permit me to quit my job and follow one of his or her dreams. While most individuals actively embrace and promote their dreams at a young age, once they grow older and enter the workplace, their dreams tend to fall to the wayside as pressures to become financially successful increase. In addition, individuals who have attended college in the hopes of acquiring knowledge and skills that will be profitable in the workplace often are burdened by student loans, the monthly repayment of which may be almost as expensive (if not more expensive) as a mortgage payment. Winning $30 million in the state lottery would enable me to instantly repay all of my student loans and still have a large portion of money left.

Third, winning $30 million in the state lottery would allow me to make healthy donations to the charities of my choice, something which most working class individuals are not financially able to do. Likewise, I may choose to establish a foundation to allocate charitable donations or to take a hands on, proactive approach to helping those individuals who are less fortunate. Examples of charities I may decide to support include battered women's shelters, boys and girls programs, foster homes, homeless shelters, and teen shelters. While most individuals express a desire to make a difference in someone else's life, few individuals have the financial resources to do so. Winning $30 million in the state lottery would make it easier for me to change or improve someone else's life.

Lastly, winning $30 million in the state lottery would give me an opportunity to travel extensively, something which most working class individuals do not have the financial resources or time to do. Most individuals have ancestors who were originally not from the United States. However, few individuals have visited the countries their ancestors left in search of a better life in the United States. While some individuals are fortunate enough to have relatives who have passed down stories regarding their ancestors, not every individual is so lucky. Also, while family stories provide an invaluable glimpse into an individual's background and roots, being able to visit the country where an individual's ancestors originate from provides an extra glimpse into the puzzle.