Do You Want to Be a Billionaire?

Have you heard that the UK National Lottery, in conjunction with the US Powerball is offering a regular prize draw of a billion pounds? For many people, if asked if they’d want to be a billionaire, their initial reaction would probably be gleeful excitement, imagining what they could do and how they’d spend such a massive windfall. They could pay off their debts, see their family and friends settled, travel and live their dream life doing whatever they wanted. 

But ultimately would so much money bring long-term peace and a better quality of life? There are well documented reports of previous big winners spending their money wildly, on anything that took their fancy, resulting in it all being spent within a year or two. But big houses, expensive cars and drinks all round don’t buy friends or provide a long-lasting route to happiness. And for those who leave their jobs, staying at home can lead to loneliness, isolation and a lack of purpose. 

There can sometimes be guilt at the thought of holding onto a job that may be perceived as being required by someone in more need, especially when you no longer need the money. A job though is often about more than the income it provides. There’s a routine to holding down a job, a requirement to turn up regularly, neat, tidy and on time. Some tasks may be complex and that provides good mental exercise, having to problem-solve, perhaps liaise with others and deliver a positive outcome. Also, co-working relationships often have to be nurtured, with some more challenging than others, but potentially leading to friendships and a social life outside work.    

Those who use their windfall purposefully are often found to be the happiest and most content. There are many positive stories, like the one about the couple who heard of WW2 veterans who were hoping to have a reunion at Dunkirk but couldn’t afford the funding until this couple stepped up and paid for it. The couple got involved and found tremendous satisfaction from waving the veterans off at the start of their journey. 

Melinda French Gates has given away much of her divorce settlement from Bill Gates, quietly supporting charities for women and children. Rapper Eminem and his daughter Hailie have paid out $700,000 to clear school lunch debt across 103 schools, enabling school children to eat their meals free from shame. Singers Rihanna, Tayor Swift and several top sports stars quietly support worthy causes, causes that resonate with them.  

That seems to be the key to valuing the opportunities that an influx of money can bring. Numerous begging letters may come your way, but it’s about taking the time to sort through them and engage with projects and causes that inspire you, that encourage you to enthusiastically get involved and provide purpose to your life.  

Coming into a lot of money, through an inheritance, redundancy or a windfall of some kind can initially be overwhelming, and there’s often an impulse to buy champagne, celebrate and ‘splash the cash’. And why not for a time! But trying to keep it secret can often be good advice, certainly until there’s been time to calm and have a period of reflection, when you seek some good professional advice. 

This advice may be enough to prompt reflections on a career change, offering time to perhaps even qualify in a completely new field and do something you’ve always wanted to do but couldn’t entertain till now. A sudden influx of money can buy you time to seize the opportunity to study, learn new skills and open a new area of life with a total change of direction.    

Money can provide ways to be generous and make a difference to those areas that you’d like to step in and help. But intelligent philanthropy means first deciding which areas inspire you to be supportive. Are you motivated to finance areas that support nature, wellbeing, education, welfare or rescue? Or would you like to set up your own business, side-hustle or back someone in their new start-up? When donating to charity it’s good advice to investigate where any sizeable donations would go. Do you really want to pay a CEO’s bonus, luxury car or expense account? Sometimes local charities manage with relatively small bequests, and your contribution could make all the difference to their survival. 

Lots to think about and enjoy when you become a billionaire!            

Susan Leigh, Counsellor and Hypnotherapist     www.lifestyletherapy.net