Winning the lottery is a common fantasy. Really, what’s not to love? Millions of dollars at our disposal, grand homes, nice toys, great vacations and early retirement. Ah, living the dream would feel so good.

However, coming into a large amount of money – or even earning a hefty salary – isn’t always what it seems. Studies have shown that lottery winners are no happier than regular folk in the long run; in fact, they’re often more miserable.

That’s not to say that money has no effect: those living in poverty do experience more happiness and satisfaction when they enter an economically stable situation. But after you reach a certain financial point, money and status no longer impact our emotions the same way.

In this TED-Ed video, Dr. Raj Raghunathan explains how hedonic adaptation – or the hedonic treadmill as it is often called – plays a role in stabilizing emotions after an event like a lottery win. He also shares advice on how to get the most joy from money. Guess what? It doesn’t involve buying something for ourselves.

To learn more, watch Would winning the lottery make you happier?