Lottery winner Timothy Schultz reveals what really changes when you become a millionaire

The current Powerball jackpot stands at a whopping 1.6 billion dollars, meaning that one lucky winner might walk away with 782.4 million dollars in cash once taxes are accounted for.

While the prize might be the largest in history, a previous winner from Iowa reveals what it's like to win the lottery.

Timothy Schultz, who in 1999 won 29 million dollars, says that the rush eventually subsides and that money doesn't bring happiness along with it.

Does money buy happiness?

"The euphoria is real, but it eventually subsides," Schultz told the New York Post.

"Money can help alleviate financial stress, create opportunities and provide time, but money doesn't change who you are as a person. If you were unhappy before, you might be unhappy after.

"There are some very wealthy people in the world who are extremely unhappy. Money can be positive, but it doesn't necessarily fix all problems."

Schultz also revealed how he found it harder to trust people following his win.

"It was much more difficult to trust people," Schultz continued.

"Most people were supportive and happy for me, but I did receive stacks of letters from people asking for money.

"It was difficult to trust new people - that they didn't want me for the wrong reasons. It felt like some people viewed me as a walking, talking ATM machine.

"Thankfully, most people wanted me for the right reasons, but there was a learning curve in how to deal with that sort of thing."

Schultz the philosopher

The Iowan also stated that it was a miracle to even be alive and that one's health must be prioritized over money.

"Money can't fix everything," Schultz once again emphasized.

"People often consider the odds of winning the lottery, but what about the odds of even being alive in the first place?

"It's astonishing. You have a better chance of winning the lottery a million times over than of being born.

"Our health should not ever be taken for granted. Money can certainly help, but it can't fix everything."

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