Winning the lottery won't make you happier, according to a new study.
Millions of people across the country are buying tickets for the Mega Millions lottery. But those people won't necessarily be any happier.
A new study from researchers at the Stockholm School of Economics, Stockholm University and New York University found that jackpot winners feel a level of life satisfaction for about 10 years that might not wane.
The winners won't blow their winnings, either.
"Large-prize winners experience sustained increases in overall life satisfaction that persist for over a decade and show no evidence of dissipating with time," the researchers concluded.
The study comes as millions of people across the country buy tickets for the Mega Millions lottery.
Researcher Robert Ostling told MarketWatch that "life satisfaction" is different from happiness since it refers to your overall quality of life. "Happiness," though, measures your day-to-day feelings.
Researchers thought lottery money would make people happy and improve mental health.
However, researchers found those who won at least $100,000 didn't have an increase in happiness or mental health.
Winners "appear to enjoy sustained improvement in economic conditions that are robustly detectable for well over a decade after the windfall," the authors wrote.
Researchers studied 3,362 winners from five to 22 years after winning.
In total, the winners earned $277 million.
Researchers measured their participants' happiness, mental health, financial satisfaction and life satisfaction.