I Can t Wait for You to Win My Heart All Over Again
Everybody needs coin to survive. Information technology'southward a fact we may not similar, but it's however a fact. Another inescapable truth is that virtually of us could use more money for the things we demand equally well as the things nosotros merely want. That probably makes the promise of winning the lottery audio similar a dream come up truthful, merely the reality is much more complicated than that.
Consider this cautionary tale of a woman in desperate need who won an unbelievable corporeality of money. The choices and mistakes she made afterward winning ultimately resulted in losing it all. Her story reminds u.s.a. all to never forget that money doesn't buy happiness.
Meet Marie Holmes
When she was 26, Marie Holmes was living a difficult life in Northward Carolina. She was a hard-working, single mother of four with two low-paying jobs. On pinnacle of this, one of her children had just been diagnosed with cerebral palsy.
Because of her kid'due south special needs, Marie was forced to quit both of her jobs to care for him full time. Obviously, the $188 million lottery windfall seemed like a Godsend when Marie won, but unfortunately, she made a series of poor decisions that resulted in her losing information technology all.
Marie'south Original Plans
Marie fabricated 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. "Commencement I'm going to pay my tithes, considering I wouldn't take none of it if it weren't for God."
"Afterwards that, I'yard going to set upwardly accounts for my kids…I'thou going to buy a house for me and my kids, then make sure my family is all good." Marie also told WGN-TV, "I don't have to worry about the word 'struggle' no more and neither practise [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 establishment that sold them the ticket pays them their winnings. However, there is a lengthy procedure involved in challenge large lottery winnings.
The ticket has to exist verified by a scanning machine. Next, there is a waiting menstruum 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 thirty years (on boilerplate).
Choices, Choices
One 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 1000000 and collecting the remaining $127 million much sooner. Financial experts commonly recommend taking the lump sum and investing the money. That allows you the opportunity to brand money on your winnings instead of the state. 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 interruption it downwardly for you. Although the entire tax corporeality wasn't reported in Marie Holmes' case, 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'southward $127 million, and the Federal Regime would have taken anywhere from 25% to 39.6%, depending on tax bracket and other factors. Well-nigh people pay the highest rate.
Setting an Instance
When Marie won the lottery, she had plans that all sounded very honorable. She said she would donate first to her church and and then move out of her mobile dwelling and buy a new house for her children. She also planned to gear up up higher funds for them.
Marie told NBC, "All the struggle that I ever went through, it was all for [my children]. I want them to empathize that money doesn't change y'all, only information technology can help you lot." The public cruel in beloved with Marie after hearing about her history of poverty and hard knocks before she became wealthy.
Could She Handle Information technology?
The reputation that Marie had in her hometown and elsewhere was that of a difficult-working, single mother who, according to her family and friends, "understood the value of a dollar." At one indicate, she had two jobs — Walmart and McDonald'south — to support her four children. Therefore, nobody expected her to brand poor decisions nearly where the coin would go.
Of grade, no 1 took into account that Marie was inexperienced and uninformed about how to handle large amounts of money. When she started deciding how to spend the lottery money, the public viewed her every bit young and irresponsible.
Financial Advisor, Please?
When people who aren't wealthy win a lot of money, it'due south highly recommended that they seek professional person help almost how to manage the money, including what Non to practice with it. The average American has admittedly no experience handling large amounts of money.
Financial advisors warn that even titanic amounts of coin can disappear apace if it isn't invested wisely. In the case of Marie Holmes, it seemed like her center was in the right place and she was doing what she thought was right, just some skillful advice definitely would accept helped her out.
The Bad Judgment Begins
The beginning thing dubbed a poor judgment phone call past the public was the $15,000 Rolex that Marie bought her beau, Lamar "Hot Sauce" McDow. The watch was more than jewelry than a timepiece and was reportedly "dripping with diamonds."
That aforementioned young man ultimately toll Marie much more than. 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 April 2016. He continued to get arrested throughout their relationship, and Marie spent millions on his bail and defence force.
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 judgement, he lived in the $350,000 dwelling that she had purchased after winning the lottery.
According to the Daily Mail, of the original amount of $188 million, Marie was left with well-nigh $88 meg afterward deciding to take her winnings in a lump sum and paying taxes. This is still a very large corporeality of money, but a loss of $100 meg is obviously very significant.
Leeches Coming Out of the Woodwork
Predictably, lots of people immediately started asking Marie and her boyfriend for coin afterward they heard she won the lottery. The people included friends, family members and numerous others, all requesting various amounts of money for all kinds of reasons. Unfortunately, this feel is common for lottery winners.
Marie and Lamar were constantly harassed for coin handouts, and it became very stressful for them. Marie was quoted as saying, "When money comes, there are more issues," co-ordinate to reports.
Racial Intolerance in Their New Home
Some other problem that plagued Marie and her family in their new life in their new dwelling house was harassment from neighbors due to racial prejudice. The neighborhood that Marie moved into with her family was an intolerant, primarily white customs, and much to the family's chagrin, the residents were not interested in changing.
Co-ordinate to Lamar, "Ane neighbour set up a photographic camera to tape everything we were doing. If I was driving down the road and going at the speed limit, they would wave at me for going also fast. They did not want us in that location. They were prejudiced." Lamar reported these disturbing events to the Daily Mail.
The Church Donation
Marie stayed true to her discussion, which was reported in a press release as "The first thing she promised was to tithe — give a 10th of her winnings to charity." Marie donated a total of $700,000 to her hometown church, Pleasant Hill Missionary Baptist Church building, located in Shallotte, NC.
The church reportedly used the money for much-needed renovations. Marie told the press the church was an important part of her life and her religion and that she had been attending that particular church building since she was a child.
Pastor Disaster
Unfortunately, a different pastor fabricated 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, Marie and her family believed him and allowed him into their lives and their home.
Soon after meeting Marie, Pastor Matthews asked her for $1.5 million so he could build a retreat. According to him, Marie verbally agreed to fund the project, although at that place is no evidence to support that. He then went ahead and began structure on the retreat using his ain money. Marie did not contribute.
Wicked Intentions
Citing a verbal agreement in which Marie allegedly promised to donate $1.five 1000000 for his retreat, Pastor Kevin Matthews announced publicly that he was suing Marie Holmes for $10 million. The amount of money named in the suit was baffling, considering the amount he was allegedly promised was much less.
The public believed Pastor Matthews was beingness ungrateful and greedy. His behavior seemed unbecoming of a Christian leader to nigh people of faith. The justification for his lawsuit was that he had a verbal agreement with Marie for a money donation and compensation for "emotional distress."
Public Outrage
Equally soon equally the media caught wind of the lawsuit, they uncovered that Matthews did not announced to be affiliated with whatsoever church. This led to a astringent, angry public backfire. People shamed Matthews for being a fraud and trying to scam a dainty lady out of her rightful winnings.
One YouTuber, "Donald the Repentless," was so mad almost this that he put out videos entitled, "F*** You Pastor Kevin Matthews." Public opinion was articulate that this so-called "pastor" was nothing but a money-grubbing scam artist preying on a overnice lady to get his hands on a lot of undeserved money.
To Top It Off: Infidelity
In more than bad news for Marie and her children, the media reported that her ex-captive boyfriend was beingness unfaithful. Unfortunately, it was too reported that she herself paid Lamar's mistresses hush coin to go abroad instead of getting rid of him.
In more reputation damaging news, a video surfaced on Facebook of a adult female who claimed that in addition to Lamar cheating on Marie, he was too stealing money from her to pay prostitutes for "sexual favors." Unfortunately, the video went viral, as juicy gossip frequently 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 force and took matters into her own easily by turning to a well-known life coach to get some advice nigh how to better her life.
Marie contacted Iyanla Vanzant, who has her own bear witness advising people near their relationships on the Oprah Network. Vanzant is a renowned author and motivational speaker with a huge following due to her reputation for irresolute people'due south lives for the better.
The Truth Revealed
In some other 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 significant.
"I kept dreaming about 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 improve yourself for the babies."
The Scoop on Lamar McDow
Lamar "Hot Sauce" McDow was fortunate enough to stay in Marie'due south good graces long enough to fight jail 3 times, to the tune of millions in bail and legal fees. The start time Marie bailed him out, it price her $3 million in bond money.
Earlier a yr had passed, Lamar was arrested over again, and Marie bailed him out again for $half dozen million. The third fourth dimension Marie bailed out Lamar, it was $12 million. You would think she would have been repulsed by his criminal behavior, but she just kept spending the money, resulting in widespread criticism.
Misery Loves Company
Marie was warned past many people that if she continued her human relationship with Lamar, she could end up with criminal charges herself. Unfortunately, that'south exactly what happened. One nighttime, Lamar violated his parole curfew. When the constabulary came, they discovered marijuana in the house.
Tragically, Marie was arrested for possession in front of her children. Marijuana remains illegal in North Carolina, but there is a pregnant racial bias most who is criminalized for information technology, co-ordinate to the ACLU. The aforementioned number of white people as blackness people employ marijuana, but blacks are iii.73 times more likely to be arrested.
The Fellow Defense force
Lamar eventually got angry at the people criticizing Marie for spending her money bailing him out of jail, and he lashed out. To the Daily Postal service, he asserted, "We are a couple, and I am the father of her youngest child. This is what people do for each other."
Lamar went on to say, "She has the coin, and she can do what she wants with it. If I had that money, and then I would practise the aforementioned for her. People are just jealous because of how much she won, and people want to run across me locked in jail."
The Wolf Pit
During the taping of the Iyanla testify, the bad headlines just kept rolling in. Marie's family 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 time on a 7-year sentence 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 good decisions about what to do with some of her money. She ended upwardly giving $9.vii million to various charities. Role of that coin went to the make-new Marie Holmes Foundation, which was established to provide for children in need.
Marie's foundation provides necessities for underprivileged children. It too holds community events, which are how some children get their school supplies and their Christmas presents. The foundation helps struggling immature mothers like Marie was before she won the lottery.
Practice Christians Gamble?
Marie was raised a devout Catholic, and she leans heavily on her Christian faith. Some people criticized her for playing the lottery at all, considering it tends to be frowned upon by the church. People take mixed opinions when it comes to Christians gambling.
One pastor said this to the Christian Post: "You tin't be confronting the lottery, but your youth department is doing a RAFFLE! Aforementioned thing, pastor. SAME Matter!" The stigma remains about gambling being an irresponsible money-waster. Others debate that there is zip specific said about gambling in the Bible, then information technology's okay when it's not abused.
The Root of All Evil
Other religious people, such as one pastor cited in the Christian Post, 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, "Start, nosotros must guard against our dear of money."
It should exist noted that when the Bible does mention "casting lots," it's non usually talking about material gain, simply about God. In an example of this, Proverbs xvi:33 states, "The lot is cast into the lap, but its every conclusion 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. Information technology's not at all piece of cake to go from rags to riches, and similar versions of her story accept happened to others.
It's important to empathize revenue enhancement laws for the long term, the rules of the lottery and investment options if you e'er observe yourself in the position of receiving a large windfall of money. Be sure to hire a good professional financial expert to assistance you decide how to manage your money to avoid reckless decisions.
A Cautionary Tale
If you ever happen to find yourself in the unlikely position of winning the lottery some things to watch out for include regime laws, lottery rules, land and federal taxes and your previous unpaid debts. These things can help you calculate your expendable income.
It may be unwise in the initial excitement to promise lots of charitable giving, like Marie did, without beginning doing the math to run across what your have-home amount really is. Multiple millions of dollars may seem like an enormous corporeality, merely as Marie discovered, information technology's easy to burn through it rapidly if you are uninformed.
Further Drama
Some call back that Marie had a run of terrible luck afterwards she won the lottery, while others recollect 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.
Bated from spending millions on her young man — who eventually concluded up in federal prison anyway — Marie as well made some other questionable decisions after winning the lotto, such as ownership her beau a business of his own and buying her mother a business firm. She likewise had harassment charges filed confronting her for allegedly calling a adult female repeatedly to threaten her.
The Lesser Line
The ending of this story is more often than not grim, although Marie Holmes did do some positive things with a lasting impact earlier the last of her money was gone. She didn't seem to realize that she would be under a microscope with the media and the public.
Here are a couple more tips, simply in case you lot ever hit it big: Don't trust anyone request for money, even if they seem to have a very respectable social status (similar the pastor who sued Marie Holmes). Remember the skilful that money tin do, but 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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