We May Lose We May Win but We Will Never Be Here Again
Everybody needs coin to survive. It's a fact nosotros may non like, but it'southward yet a fact. Some other inescapable truth is that virtually of the states could use more money for the things we demand equally well as the things we just want. That probably makes the hope of winning the lottery sound like a dream come truthful, but the reality is much more complicated than that.
Consider this cautionary tale of a adult female in desperate need who won an unbelievable amount of money. The choices and mistakes she made later winning ultimately resulted in losing it all. Her story reminds us all to never forget that coin doesn't purchase happiness.
Come across Marie Holmes
When she was 26, Marie Holmes was living a difficult life in Northward Carolina. She was a hard-working, unmarried mother of four with two low-paying jobs. On top of this, one of her children had just been diagnosed with cognitive palsy.
Because of her child's special needs, Marie was forced to quit both of her jobs to care for him full fourth dimension. Obviously, the $188 million lottery windfall seemed similar a Godsend when Marie won, merely unfortunately, she made a series of poor decisions that resulted in her losing it all.
Marie'south Original Plans
Marie made some promising comments about what she planned to do with the lottery money — $127 million after she chose to get it in a lump sum. "First I'm going to pay my tithes, because I wouldn't have none of it if it weren't for God."
"Later that, I'm going to gear up accounts for my kids…I'm going to purchase a house for me and my kids, and then make sure my family is all skillful." Marie likewise told WGN-TV, "I don't take to worry about the word 'struggle' no more and neither practice [my children]."
The Waiting Game
Although most lottery winnings are not life changing, lottery jackpots are huge, and there are rules for claiming those winnings. If a person wins less than $599, the institution that sold them the ticket pays them their winnings. Even so, at that place is a lengthy process involved in challenge large lottery winnings.
The ticket has to be verified by a scanning machine. Next, there is a waiting period for the money to be awarded, and the winner must fill out some identification paperwork. Last, the winner must decide if they want all the money in a lump sum or have it dispersed in installments for 30 years (on average).
Choices, Choices
I of the more difficult choices when a person wins millions of dollars in a lottery is whether to get the money in a lump sum or in installments. The dilemma occurs because there is a large penalty for getting all the money faster in a lump sum.
Marie had the pick of collecting the entire $188 one thousand thousand over 30 years or forfeiting $61 million and collecting the remaining $127 million much sooner. Financial experts commonly recommend taking the lump sum and investing the money. That allows you lot the opportunity to make money on your winnings instead of the country. Marie chose the lump sum.
Uncle Sam's Cut
Many people don't know how much taxes people have to pay out of lottery winnings in the U.South., so we'll suspension it downwards for you. Although the entire tax amount wasn't reported in Marie Holmes' example, she definitely paid millions to the government.
In the U.S., lottery winnings are considered income by the IRS, on both the state and federal levels. Therefore, North Carolina would have taken 5.8% of Marie's $127 1000000, and the Federal Authorities would take taken anywhere from 25% to 39.6%, depending on taxation bracket and other factors. Virtually people pay the highest charge per unit.
Setting an Example
When Marie won the lottery, she had plans that all sounded very honorable. She said she would donate commencement to her church and so motility out of her mobile abode and purchase a new house for her children. She also planned to set up higher funds for them.
Marie told NBC, "All the struggle that I ever went through, information technology was all for [my children]. I want them to empathise that money doesn't alter you, but it can help you lot." The public roughshod in love with Marie after hearing virtually her history of poverty and hard knocks before she became wealthy.
Could She Handle It?
The reputation that Marie had in her hometown and elsewhere was that of a hard-working, single mother who, co-ordinate to her family and friends, "understood the value of a dollar." At one point, she had two jobs — Walmart and McDonald's — to support her four children. Therefore, nobody expected her to make poor decisions about where the money would go.
Of course, no 1 took into account that Marie was inexperienced and uninformed about how to handle large amounts of coin. When she started deciding how to spend the lottery money, the public viewed her as young and irresponsible.
Financial Advisor, Delight?
When people who aren't wealthy win a lot of coin, it's highly recommended that they seek professional help most how to manage the money, including what Non to do with it. The average American has admittedly no feel handling large amounts of money.
Fiscal advisors warn that even titanic amounts of money can disappear rapidly if it isn't invested wisely. In the instance of Marie Holmes, it seemed like her center was in the right place and she was doing what she thought was right, only some proficient communication definitely would accept helped her out.
The Bad Judgment Begins
The first matter dubbed a poor judgment call by the public was the $15,000 Rolex that Marie bought her boyfriend, Lamar "Hot Sauce" McDow. The picket was more jewelry than a timepiece and was reportedly "dripping with diamonds."
That same beau ultimately cost Marie much more. The Port City Daily reported Lamar was a gang member and a drug dealer after he was arrested and charged with "conspiracy to traffic in opium or heroin" in Apr 2016. He continued to get arrested throughout their relationship, and Marie spent millions on his bail and defense.
The Saga Continues
Before being sent to jail on drug charges in 2014, Lamar McDow lived with Marie Holmes and her children in her trailer. When he was released from jail after serving his sentence, he lived in the $350,000 home that she had purchased after winning the lottery.
According to the Daily Postal service, of the original amount of $188 meg, Marie was left with about $88 million later on deciding to have her winnings in a lump sum and paying taxes. This is all the same a very big amount of money, but a loss of $100 meg is plain very significant.
Leeches Coming Out of the Woodwork
Predictably, lots of people immediately started asking Marie and her boyfriend for money after they heard she won the lottery. The people included friends, family members and numerous others, all requesting various amounts of coin for all kinds of reasons. Unfortunately, this feel is common for lottery winners.
Marie and Lamar were constantly harassed for coin handouts, and information technology became very stressful for them. Marie was quoted equally maxim, "When money comes, there are more bug," according to reports.
Racial Intolerance in Their New Abode
Some other problem that plagued Marie and her family in their new life in their new home was harassment from neighbors due to racial prejudice. The neighborhood that Marie moved into with her family unit was an intolerant, primarily white customs, and much to the family's chagrin, the residents were not interested in changing.
According to Lamar, "One neighbour set upward a camera to record everything we were doing. If I was driving down the road and going at the speed limit, they would moving ridge at me for going too fast. They did not want us there. They were prejudiced." Lamar reported these disturbing events to the Daily Mail service.
The Church Donation
Marie stayed true to her word, which was reported in a press release every bit "The first thing she promised was to tithe — give a 10th of her winnings to charity." Marie donated a full of $700,000 to her hometown church, Pleasant Colina Missionary Baptist Church, located in Shallotte, NC.
The church reportedly used the money for much-needed renovations. Marie told the printing the church was an important part of her life and her faith and that she had been attention that particular church since she was a child.
Pastor Disaster
Unfortunately, a different pastor made contact with Marie and her family with an evil ulterior motive. Pastor Kevin Matthews claimed that "God led him to them," and although they certainly regretted information technology later on, Marie and her family unit believed him and immune him into their lives and their abode.
Soon after meeting Marie, Pastor Matthews asked her for $1.five million so he could build a retreat. According to him, Marie verbally agreed to fund the project, although in that location is no show to support that. He then went ahead and began structure on the retreat using his own coin. Marie did not contribute.
Wicked Intentions
Citing a verbal agreement in which Marie allegedly promised to donate $1.5 million for his retreat, Pastor Kevin Matthews announced publicly that he was suing Marie Holmes for $ten one thousand thousand. The corporeality of money named in the suit was baffling, considering the amount he was allegedly promised was much less.
The public believed Pastor Matthews was being ungrateful and greedy. His beliefs seemed unbecoming of a Christian leader to well-nigh people of faith. The justification for his lawsuit was that he had a verbal understanding with Marie for a coin donation and compensation for "emotional distress."
Public Outrage
As soon as the media caught wind of the lawsuit, they uncovered that Matthews did not appear to exist affiliated with any church. This led to a severe, angry public backlash. People shamed Matthews for being a fraud and trying to scam a nice lady out of her rightful winnings.
One YouTuber, "Donald the Repentless," was so mad well-nigh this that he put out videos entitled, "F*** You Pastor Kevin Matthews." Public opinion was clear that this then-called "pastor" was cipher only a money-grubbing scam creative person preying on a nice lady to get his hands on a lot of undeserved money.
To Top Information technology Off: Infidelity
In more than bad news for Marie and her children, the media reported that her ex-convict boyfriend was being unfaithful. Unfortunately, it was also reported that she herself paid Lamar's mistresses hush money to become away instead of getting rid of him.
In more reputation damaging news, a video surfaced on Facebook of a woman who claimed that in addition to Lamar cheating on Marie, he was also stealing money from her to pay prostitutes for "sexual favors." Unfortunately, the video went viral, equally juicy gossip often does.
Powering Through
Instead of withering under the scrutiny of the media and the public, Marie decided to take drastic measures to improve her circumstances. She gathered her strength and took matters into her own hands past turning to a well-known life coach to get some advice virtually how to improve her life.
Marie contacted Iyanla Vanzant, who has her own show advising people about their relationships on the Oprah Network. Vanzant is a renowned author and motivational speaker with a huge following due to her reputation for changing people's lives for the ameliorate.
The Truth Revealed
In another surprising twist, when Marie went on the Iyanla: Fix My Life talk show, her mother, Fontella, came out and revealed that the numbers she chose for the winning lottery ticket were really hers and that they had a very special meaning.
"I kept dreaming near your brother that we lost. His altogether, he was the third child, he'd have been 25 that year. Those were the numbers." When Marie asked her mother why she didn't merits the money for herself, Fontella replied, "I just wanted y'all to better yourself for the babies."
The Scoop on Lamar McDow
Lamar "Hot Sauce" McDow was fortunate enough to stay in Marie's good graces long enough to fight jail three times, to the tune of millions in bond and legal fees. The commencement time Marie bailed him out, it price her $3 million in bond money.
Earlier a year had passed, Lamar was arrested over again, and Marie bailed him out again for $6 million. The 3rd fourth dimension Marie bailed out Lamar, it was $12 million. Yous would call up she would have been repulsed by his criminal beliefs, but she just kept spending the money, resulting in widespread criticism.
Misery Loves Visitor
Marie was warned by many people that if she continued her relationship with Lamar, she could cease up with criminal charges herself. Unfortunately, that'due south exactly what happened. One nighttime, Lamar violated his parole curfew. When the police came, they discovered marijuana in the firm.
Tragically, Marie was arrested for possession in front of her children. Marijuana remains illegal in North Carolina, but there is a meaning racial bias about who is criminalized for it, according to the ACLU. The same number of white people equally black people utilise marijuana, only blacks are 3.73 times more probable to be arrested.
The Young man Defense force
Lamar eventually got angry at the people criticizing Marie for spending her coin bailing him out of jail, and he lashed out. To the Daily Mail, he asserted, "We are a couple, and I am the father of her youngest kid. This is what people do for each other."
Lamar went on to say, "She has the money, and she can practise what she wants with it. If I had that money, then I would practice the same for her. People are only jealous because of how much she won, and people want to meet me locked in jail."
The Wolf Pit
During the taping of the Iyanla show, the bad headlines just kept rolling in. Marie's family unit and even former friends started accusing her of really stealing the lottery ticket from her female parent, despite Fontella freely admitting on television that she had given the ticket to Marie.
To add to the stress and drama, Lamar went to jail at this fourth dimension on a seven-year judgement for charges related to possessing and selling heroin. Truthful to form, Marie persisted in pushing forward and moving on with her life, demonstrating her strength and resilience.
A Goal Met
Despite poor taste in partners, Marie did make some adept decisions almost what to do with some of her money. She concluded upward giving $ix.vii 1000000 to various charities. Part of that money went to the brand-new Marie Holmes Foundation, which was established to provide for children in need.
Marie'southward foundation provides necessities for underprivileged children. Information technology as well holds community events, which are how some children get their school supplies and their Christmas presents. The foundation helps struggling young mothers like Marie was before she won the lottery.
Do Christians Run a risk?
Marie was raised a devout Catholic, and she leans heavily on her Christian religion. Some people criticized her for playing the lottery at all, because it tends to be frowned upon by the church. People have mixed opinions when information technology comes to Christians gambling.
One pastor said this to the Christian Postal service: "Y'all tin't be against the lottery, but your youth section is doing a RAFFLE! Same affair, pastor. SAME THING!" The stigma remains well-nigh gambling being an irresponsible money-waster. Others contend that there is nothing specific said virtually gambling in the Bible, so it'due south okay when it's non driveling.
The Root of All Evil
Other religious people, such as one pastor cited in the Christian Mail, pointed out that the Bible says that money is where evil originated. He scolded Marie for buying the lottery ticket and went on to say, "First, we must baby-sit confronting our love of money."
It should be noted that when the Bible does mention "casting lots," it's not usually talking about textile gain, just most God. In an example of this, Proverbs 16:33 states, "The lot is bandage into the lap, merely its every determination is from the Lord."
Some Friendly Advice
We recommend that others read the unfortunate story of Marie Holmes in case they find themselves in her shoes. It'due south not at all easy to get from rags to riches, and similar versions of her story have happened to others.
It'south of import to understand tax laws for the long term, the rules of the lottery and investment options if you ever find yourself in the position of receiving a large windfall of coin. Be sure to hire a good professional financial skillful to help you decide how to manage your coin to avoid reckless decisions.
A Cautionary Tale
If you lot e'er happen to notice yourself in the unlikely position of winning the lottery some things to scout out for include regime laws, lottery rules, country and federal taxes and your previous unpaid debts. These things can assist you summate your expendable income.
It may be unwise in the initial excitement to promise lots of charitable giving, similar Marie did, without offset doing the math to see what your accept-home amount really is. Multiple millions of dollars may seem like an enormous corporeality, but every bit Marie discovered, it's easy to burn through it quickly if you are uninformed.
Further Drama
Some recall that Marie had a run of terrible luck after she won the lottery, while others think she brought her woes upon herself with poor decision-making. A few think the truth lies somewhere in the middle of those two blackness-and-white judgments.
Aside from spending millions on her boyfriend — who eventually ended upwards in federal prison anyway — Marie also made some other questionable decisions later on winning the lotto, such as buying her boyfriend a business of his own and buying her female parent a house. She too had harassment charges filed against her for allegedly calling a woman repeatedly to threaten her.
The Lesser Line
The ending of this story is mostly grim, although Marie Holmes did practise some positive things with a lasting impact before the last of her coin was gone. She didn't seem to realize that she would be nether a microscope with the media and the public.
Here are a couple more than tips, just in case you e'er hit it big: Don't trust anyone asking for money, even if they seem to have a very respectable social status (like the pastor who sued Marie Holmes). Remember the good that money tin exercise, only don't forget the bad. No thing what, don't make bold promises immediately after winning.
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Source: https://www.reference.com/business-finance/what-not-to-do-if-you-win-lottery?utm_content=params%3Ao%3D740005%26ad%3DdirN%26qo%3DserpIndex
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