A new approach is presented to analyze if there is a causal effect or relationship between income and measures of good health and life expectancy. One of the findings is that winning monetary lotteries could improve general health by 3 percent and decreased probability of death within five years by 2-3 percentage points. Higher income by 10 percent on an average actually improved health by about 4-5 percent of a standard deviation. It also generates fewer symptoms of poor mental health and decreases chances of the person being overweight.