Trump Is Going to Win Again
Everybody needs money to survive. Information technology's a fact we may not like, simply information technology'south withal a fact. Another inescapable truth is that near of u.s. could use more money for the things we demand as well as the things we merely want. That probably makes the hope of winning the lottery audio like a dream come truthful, but the reality is much more complicated than that.
Consider this cautionary tale of a woman in drastic demand who won an unbelievable amount of money. The choices and mistakes she made after winning ultimately resulted in losing it all. Her story reminds u.s.a. all to never forget that money doesn't buy happiness.
See Marie Holmes
When she was 26, Marie Holmes was living a hard life in Northward Carolina. She was a hard-working, single mother of four with ii low-paying jobs. On top of this, ane of her children had merely been diagnosed with cerebral palsy.
Considering 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 meg lottery windfall seemed similar a Godsend when Marie won, merely unfortunately, she fabricated a serial of poor decisions that resulted in her losing it all.
Marie's Original Plans
Marie fabricated some promising comments about what she planned to do with the lottery coin — $127 million later she chose to become it in a lump sum. "Offset I'm going to pay my tithes, because I wouldn't take none of information technology if it weren't for God."
"After that, I'm going to set up accounts for my kids…I'thou going to buy a business firm for me and my kids, then brand certain my family is all adept." Marie also told WGN-Television receiver, "I don't have to worry about the word 'struggle' no more than and neither practise [my children]."
The Waiting Game
Although about 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. Nevertheless, there is a lengthy process involved in claiming big lottery winnings.
The ticket has to be verified by a scanning machine. Adjacent, there is a waiting period for the money to be awarded, and the winner must fill out some identification paperwork. Last, the winner must make up one's mind if they want all the money in a lump sum or take information technology dispersed in installments for xxx years (on average).
Choices, Choices
1 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 considering at that place is a large penalty for getting all the money faster in a lump sum.
Marie had the choice of collecting the entire $188 million over 30 years or forfeiting $61 million and collecting the remaining $127 1000000 much sooner. Financial experts commonly recommend taking the lump sum and investing the money. That allows you the opportunity to make money on your winnings instead of the land. Marie chose the lump sum.
Uncle Sam's Cutting
Many people don't know how much taxes people accept to pay out of lottery winnings in the U.Due south., so we'll break information technology down for yous. Although the entire tax amount wasn't reported in Marie Holmes' case, she definitely paid millions to the government.
In the U.S., lottery winnings are considered income past the IRS, on both the state and federal levels. Therefore, Due north Carolina would have taken five.8% of Marie's $127 million, and the Federal Government would have taken anywhere from 25% to 39.6%, depending on tax bracket and other factors. Most 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 then move out of her mobile home and purchase a new house for her children. She as well planned to set higher funds for them.
Marie told NBC, "All the struggle that I always went through, it was all for [my children]. I want them to empathize that money doesn't change you, only it can help you." The public fell in love with Marie later hearing about her history of poverty and difficult knocks before she became wealthy.
Could She Handle Information technology?
The reputation that Marie had in her hometown and elsewhere was that of a hard-working, single mother who, according to her family and friends, "understood the value of a dollar." At one point, she had ii jobs — Walmart and McDonald's — to back up her four children. Therefore, nobody expected her to brand poor decisions nearly where the coin would get.
Of course, no one took into account that Marie was inexperienced and uninformed well-nigh how to handle large amounts of money. When she started deciding how to spend the lottery money, the public viewed her as young and irresponsible.
Fiscal Advisor, Please?
When people who aren't wealthy win a lot of money, it'southward highly recommended that they seek professional help about how to manage the money, including what NOT to do with information technology. The average American has absolutely no experience treatment large amounts of money.
Financial advisors warn that even titanic amounts of money can disappear rapidly if information technology isn't invested wisely. In the case of Marie Holmes, it seemed like her eye was in the correct place and she was doing what she thought was right, just some expert advice definitely would take helped her out.
The Bad Judgment Begins
The first thing dubbed a poor judgment telephone call by the public was the $15,000 Rolex that Marie bought her fellow, Lamar "Hot Sauce" McDow. The watch was more than jewelry than a timepiece and was reportedly "dripping with diamonds."
That aforementioned boyfriend ultimately cost Marie much more. The Port Metropolis 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 connected to become arrested throughout their relationship, and Marie spent millions on his bail and defence.
The Saga Continues
Before beingness 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 dwelling that she had purchased subsequently winning the lottery.
According to the Daily Mail, of the original corporeality of $188 meg, Marie was left with well-nigh $88 one thousand thousand after deciding to take her winnings in a lump sum and paying taxes. This is nevertheless a very large amount of money, but a loss of $100 million is obviously very significant.
Leeches Coming Out of the Woodwork
Predictably, lots of people immediately started request Marie and her boyfriend for money after they heard she won the lottery. The people included friends, family members and numerous others, all requesting diverse amounts of money for all kinds of reasons. Unfortunately, this experience is common for lottery winners.
Marie and Lamar were constantly harassed for money handouts, and it became very stressful for them. Marie was quoted every bit saying, "When money comes, there are more problems," according to reports.
Racial Intolerance in Their New Home
Another problem that plagued Marie and her family unit 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'south chagrin, the residents were not interested in changing.
According to Lamar, "One neighbor prepare a camera to record everything we were doing. If I was driving down the road and going at the speed limit, they would wave at me for going likewise fast. They did non want us at that place. 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 printing release equally "The first matter 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 Colina Missionary Baptist Church building, located in Shallotte, NC.
The church reportedly used the coin 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 attending that detail church since she was a child.
Pastor Disaster
Unfortunately, a different pastor made contact with Marie and her family unit with an evil ulterior motive. Pastor Kevin Matthews claimed that "God led him to them," and although they certainly regretted it 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 $i.5 million and so he could build a retreat. According to him, Marie verbally agreed to fund the project, although there is no testify to support that. He then went alee and began construction on the retreat using his own money. Marie did not contribute.
Wicked Intentions
Citing a exact 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 inexplainable, considering the amount he was allegedly promised was much less.
The public believed Pastor Matthews was existence ungrateful and greedy. His beliefs 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
Every bit presently as the media caught wind of the lawsuit, they uncovered that Matthews did not appear to be affiliated with any church. This led to a severe, angry public backfire. 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 then mad about this that he put out videos entitled, "F*** You Pastor Kevin Matthews." Public opinion was clear that this so-called "pastor" was nothing simply a money-grubbing scam creative person preying on a prissy lady to get his hands on a lot of undeserved money.
To Top It Off: Infidelity
In more bad news for Marie and her children, the media reported that her ex-convict boyfriend was being unfaithful. Unfortunately, information technology was besides reported that she herself paid Lamar'south mistresses hush money to get 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, as juicy gossip often does.
Powering Through
Instead of withering under the scrutiny of the media and the public, Marie decided to accept drastic measures to improve her circumstances. She gathered her strength and took matters into her ain hands past turning to a well-known life charabanc to get some advice about 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 irresolute people'southward lives for the improve.
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 actually hers and that they had a very special meaning.
"I kept dreaming about your brother that we lost. His birthday, 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 adept graces long enough to fight jail three times, to the tune of millions in bond and legal fees. The first fourth dimension Marie bailed him out, information technology toll her $3 one thousand thousand in bond coin.
Before a year had passed, Lamar was arrested again, and Marie bailed him out again for $6 million. The third time Marie bailed out Lamar, it was $12 one thousand thousand. You would think she would have been repulsed by his criminal behavior, but she merely kept spending the money, resulting in widespread criticism.
Misery Loves Visitor
Marie was warned by many people that if she connected her relationship with Lamar, she could finish upwardly with criminal charges herself. Unfortunately, that's exactly what happened. One night, Lamar violated his parole curfew. When the police force came, they discovered marijuana in the house.
Tragically, Marie was arrested for possession in front end of her children. Marijuana remains illegal in Due north Carolina, just in that location is a significant racial bias virtually who is criminalized for it, according to the ACLU. The aforementioned number of white people as black people use marijuana, but blacks are 3.73 times more probable to be arrested.
The Boyfriend Defense
Lamar somewhen got aroused at the people criticizing Marie for spending her money 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 child. This is what people exercise for each other."
Lamar went on to say, "She has the coin, and she can practice what she wants with it. If I had that coin, then I would do the same for her. People are just jealous because of how much she won, and people desire to see me locked in jail."
The Wolf Pit
During the taping of the Iyanla show, the bad headlines only kept rolling in. Marie's family unit and fifty-fifty former friends started accusing her of really stealing the lottery ticket from her mother, despite Fontella freely admitting on television that she had given the ticket to Marie.
To add together to the stress and drama, Lamar went to jail at this time on a seven-year judgement for charges related to possessing and selling heroin. True to grade, Marie persisted in pushing frontward and moving on with her life, demonstrating her forcefulness 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 ended up giving $9.vii million 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'south foundation provides necessities for underprivileged children. It as well holds community events, which are how some children get their schoolhouse supplies and their Christmas presents. The foundation helps struggling young mothers similar Marie was before she won the lottery.
Do Christians Take a chance?
Marie was raised a devout Cosmic, and she leans heavily on her Christian faith. Some people criticized her for playing the lottery at all, because information technology 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 Post: "You can't be confronting the lottery, merely your youth department is doing a RAFFLE! Aforementioned thing, pastor. Aforementioned Thing!" The stigma remains about gambling being an irresponsible money-waster. Others argue that at that place is nothing specific said nearly gambling in the Bible, then information technology'southward okay when it'due south not abused.
The Root of All Evil
Other religious people, such as one pastor cited in the Christian Postal service, pointed out that the Bible says that coin is where evil originated. He scolded Marie for buying the lottery ticket and went on to say, "Starting time, we must baby-sit against our love of money."
It should be noted that when the Bible does mention "casting lots," it'due south not usually talking most material gain, but virtually God. In an example of this, Proverbs 16:33 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. It'south non at all easy to go from rags to riches, and similar versions of her story take happened to others.
Information technology'due south important to sympathise revenue enhancement laws for the long term, the rules of the lottery and investment options if you ever find yourself in the position of receiving a big windfall of money. Be sure to rent a expert professional fiscal expert to help you make up one's mind how to manage your money to avert reckless decisions.
A Cautionary Tale
If you ever happen to find yourself in the unlikely position of winning the lottery some things to scout out for include authorities laws, lottery rules, country and federal taxes and your previous unpaid debts. These things can help you calculate your expendable income.
It may exist unwise in the initial excitement to promise lots of charitable giving, like Marie did, without first doing the math to see what your take-home amount really is. Multiple millions of dollars may seem similar an enormous amount, just as Marie discovered, it's easy to burn through it quickly if you are uninformed.
Further Drama
Some think that Marie had a run of terrible luck later on she won the lottery, while others call up she brought her woes upon herself with poor conclusion-making. A few call back the truth lies somewhere in the middle of those two black-and-white judgments.
Bated from spending millions on her boyfriend — who eventually concluded up in federal prison anyhow — Marie likewise fabricated some other questionable decisions later on winning the lotto, such as buying her boyfriend a business organization of his own and buying her female parent a house. She besides had harassment charges filed against her for allegedly calling a woman repeatedly to threaten her.
The Lesser Line
The catastrophe of this story is mostly grim, although Marie Holmes did do some positive things with a lasting impact before the concluding 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 than tips, only 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 (like the pastor who sued Marie Holmes). Remember the skillful that coin can do, but don't forget the bad. No matter what, don't brand assuming promises immediately later winning.
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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