I recently had an interesting chat with a friend, who threw out a question that seemed simple but turned out to be tough to answer.

She asked, ‘What if you finally get that lump sum of money you’ve been chasing all these years, will it really change your life forever?’ This question was raw fodder for my mind, and frankly, there wasn’t a clear-cut answer.

As I mulled it over, I wondered if an unexpected windfall is truly the only thing keeping someone from reaching financial freedom.

Triggered, I spent days conducting logical research on the topic and hoping to see the light at the end of the tunnel with evidence in perspective. In my search for answers, I stumbled upon Amy E.

Wendling’s book on money, where she points out that society has an obsession with wealth, with many people looking for meaning through it.

Her work delves into the ‘If Only’ fantasies tied to wealth, arguing that the chase for money can become just as addictive as other forms of consumption.

The book questions whether the endless pursuit of material wealth truly satisfies a person’s deepest needs, and whether there are other paths to living a fulfilled life.

To get the direct answer to my nagging query, I first had to define financial freedom and a financial windfall. The former is a state where a person has enough financial resources to meet their current and future needs without needing external debt and extra income sources.

A financial windfall is a sudden substantial increase in wealth or income. In Kenya, this is manifested through mega jackpot winnings or estate inheritances.

There have been countless cases of people receiving financial windfalls but still failing to achieve financial freedom. This became a piece of the puzzle in answering the question, ‘Would a large sum really set me up for life?’

Some might argue that having money helps avoid bad decisions, but we must admit that ‘If Only’ fantasies can often do more harm than good. Here are 4 points explaining why:

My wife and I earn 28k net as primary teachers; how do we use 50:30:20 method?

1. Money is Earned, not ‘hoped for’

Strolling through life hoping that money will fall onto your laps may be impractical to a large extent.

If you buy into the ‘a mega jackpot will save me’ mentality, you will be blinded to reality, which can breed complacency and laziness.

Money is earned not ‘waited and hoped for’. I’m pretty sure everyone would wish to wake up in the morning and find that their mattress magically turned into a pile of money.

Statistics show that one win be more likely to be selected as the next pope before winning a major lottery jackpot.

So, the general consensus lies in setting SMART financial goals and working towards them.

2. Take action on a vision, then reinforce with positivity

A landlord will not accept positive thoughts in place of rental payments. Positive thoughts are great in envisioning something, but if you don’t act on them, then they become ‘If Only’ fantasies.

“Thinking about the benefits of success can actually make you less likely to achieve your goals. They can reduce the amount of effort that you want to put into achieving your aims,” says a research paper published in the Journal of Consumer Psychology.

You can have all the positivity in the world, but if one doesn’t take action internally first, it’s all just a wasted effort.

3. Soft life requires discipline, patience and work

In this digital era, we have seen people catapult to overnight fame and success through their content on social media platforms such as TikTok, Facebook and Instagram.

Take Khaby Lame for example, the Senegalese-Italian TikToker who is now living the soft life from making videos yet he has never uttered a word in his videos.

This mindset might lead many to believe they are just one TikTok video or deal away from the soft life. Don’t be one of those who blindly follow mimicry while overlooking the difference between causation and correlation.

There are many factors at play in such situations. You likely won’t achieve the soft life you dream of just by copying someone else’s strategy; that will only make you a clout chaser. The soft life requires hard work, patience, and discipline.

4. Your financial situation will be permanent if no action is taken

A popular quote says that luck favors the prepared. An even more famous saying goes, ‘Nothing is permanent.’

While this may hold true on a basic level, it often serves as a powerful mantra to help cope with difficult times and negative emotions.

However, when it comes to money, this mindset can be problematic. If left unchecked, it can foster an ‘If Only’ mentality, creating an illusion of self-entitlement and a strong belief that things will improve simply because one thinks they ‘deserve’ it.

This is a risky way to live, hoping that the world owes you something for nothing. Your financial situation is within your control, and if no action is taken to change it, nothing will improve.