That is very culturally dependent. In Norway where I live it is almost a bit of a joke how lottery millionaires hardly change their lifestyle. Most don't quit their jobs, while I know in Britain it is more like people go to the bar blow their money on rounds for everyone and buy a Ferrari.

But then again Nordic culture frowns upon flaunting wealth, and don't equate successwith displaying wealth.

But I am pretty sure if you analyze different countries and cultural subgroups you will find very different patterns in how inheritance and lottery money is spent.

I don't think you can just claim as a general rule that "regular people" just blow their money. I think that is a bit too cynical take which reminds me of Victorian Britain who wanted to encourage the poor to have less children because they were basically deemed as inferior people.

I think one should have a bit more faith in regular people. Comrade Morlocks examples from UBI experiments also show that the arrogant attitude the elite has to the spending habits and work ethic of th common people simply doesn't hold true. People are not as immoral and lazy as the elite like to claim.