Culter Record Agains Teams With Winning Record
Everybody needs coin to survive. It's a fact we may non similar, but information technology'south nonetheless a fact. Another inescapable truth is that most of united states could use more money for the things nosotros demand likewise as the things nosotros just want. That probably makes the hope of winning the lottery sound similar a dream come up true, but the reality is much more than 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 after winning ultimately resulted in losing it all. Her story reminds u.s.a. all to never forget that money doesn't purchase 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 2 depression-paying jobs. On top of this, one of her children had but 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 1000000 lottery windfall seemed similar a Godsend when Marie won, just unfortunately, she made a series of poor decisions that resulted in her losing it all.
Marie's Original Plans
Marie made some promising comments about what she planned to do with the lottery money — $127 one thousand thousand after she chose to become it in a lump sum. "First I'm going to pay my tithes, because I wouldn't have none of information technology if it weren't for God."
"After that, I'm going to set up accounts for my kids…I'm going to buy a house for me and my kids, and so brand certain my family is all practiced." Marie also told WGN-Telly, "I don't have to worry about the word 'struggle' no more and neither exercise [my children]."
The Waiting Game
Although most lottery winnings are non life changing, lottery jackpots are huge, and there are rules for challenge those winnings. If a person wins less than $599, the institution that sold them the ticket pays them their winnings. However, in that location is a lengthy process involved in claiming big lottery winnings.
The ticket has to be verified by a scanning automobile. Next, there is a waiting period for the money to exist awarded, and the winner must fill out some identification paperwork. Terminal, the winner must decide if they desire all the money in a lump sum or have information technology dispersed in installments for xxx years (on average).
Choices, Choices
Ane of the more than 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 penalisation for getting all the money faster in a lump sum.
Marie had the choice of collecting the entire $188 million over xxx years or forfeiting $61 million and collecting the remaining $127 1000000 much sooner. Financial experts ordinarily recommend taking the lump sum and investing the money. That allows y'all the opportunity to make 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.S., and then we'll break it down for you lot. Although the unabridged tax amount wasn't reported in Marie Holmes' case, she definitely paid millions to the regime.
In the U.S., lottery winnings are considered income by the IRS, on both the land and federal levels. Therefore, Due north Carolina would accept taken 5.8% of Marie's $127 million, and the Federal Government would take taken anywhere from 25% to 39.half dozen%, depending on tax bracket and other factors. Nigh people pay the highest rate.
Setting an Example
When Marie won the lottery, she had plans that all sounded very honorable. She said she would donate first to her church and so move out of her mobile home and buy a new house for her children. She also planned to ready college funds for them.
Marie told NBC, "All the struggle that I always went through, it was all for [my children]. I desire them to empathise that money doesn't alter you, simply information technology tin help you." The public fell in love with Marie later hearing about 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 female parent who, according to her family and friends, "understood the value of a dollar." At one betoken, she had two jobs — Walmart and McDonald'due south — to support her iv children. Therefore, nobody expected her to make poor decisions about where the money would go.
Of form, no one 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 coin, the public viewed her as immature and irresponsible.
Financial Advisor, Please?
When people who aren't wealthy win a lot of money, it's highly recommended that they seek professional person help about how to manage the coin, including what Not to do with it. The average American has admittedly no experience treatment large amounts of money.
Fiscal advisors warn that even titanic amounts of money can disappear rapidly if information technology isn't invested wisely. In the example of Marie Holmes, it seemed like her eye was in the right place and she was doing what she idea was right, but some skilful advice definitely would have helped her out.
The Bad Judgment Begins
The get-go affair dubbed a poor judgment telephone call by the public was the $15,000 Rolex that Marie bought her boyfriend, Lamar "Hot Sauce" McDow. The watch was more jewelry than a timepiece and was reportedly "dripping with diamonds."
That same beau ultimately toll Marie much more than. The Port City Daily reported Lamar was a gang member and a drug dealer subsequently he was arrested and charged with "conspiracy to traffic in opium or heroin" in Apr 2016. He continued to get arrested throughout their human relationship, and Marie spent millions on his bail and defense.
The Saga Continues
Earlier 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 abode that she had purchased afterwards winning the lottery.
According to the Daily Mail, of the original corporeality of $188 million, Marie was left with about $88 million after deciding to take her winnings in a lump sum and paying taxes. This is however a very large corporeality of coin, merely a loss of $100 million is obviously very pregnant.
Leeches Coming Out of the Woodwork
Predictably, lots of people immediately started asking Marie and her fellow 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 mutual for lottery winners.
Marie and Lamar were constantly harassed for coin handouts, and information technology became very stressful for them. Marie was quoted every bit saying, "When money comes, at that place are more than problems," co-ordinate to reports.
Racial Intolerance in Their New Home
Another 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 was an intolerant, primarily white community, and much to the family's chagrin, the residents were not interested in changing.
Co-ordinate to Lamar, "1 neighbour prepare a camera to record everything nosotros were doing. If I was driving downwardly the road and going at the speed limit, they would wave at me for going too fast. They did not desire the states in that location. They were prejudiced." Lamar reported these disturbing events to the Daily Mail.
The Church building Donation
Marie stayed true to her give-and-take, which was reported in a press release as "The first matter she promised was to tithe — give a tenth of her winnings to charity." Marie donated a total of $700,000 to her hometown church, Pleasant Loma Missionary Baptist Church, located in Shallotte, NC.
The church reportedly used the money for much-needed renovations. Marie told the press the church was an of import part of her life and her faith and that she had been attending that particular church 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 it afterwards, Marie and her family believed him and allowed him into their lives and their dwelling house.
Before long later on meeting Marie, Pastor Matthews asked her for $1.five million then he could build a retreat. According to him, Marie verbally agreed to fund the projection, although there is no evidence to support that. He and then went ahead and began construction on the retreat using his own money. Marie did not contribute.
Wicked Intentions
Citing a verbal agreement in which Marie allegedly promised to donate $ane.5 meg for his retreat, Pastor Kevin Matthews announced publicly that he was suing Marie Holmes for $10 one thousand thousand. The corporeality of coin 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 behavior seemed unbecoming of a Christian leader to almost people of faith. The justification for his lawsuit was that he had a verbal agreement with Marie for a coin donation and compensation for "emotional distress."
Public Outrage
Every bit soon as the media caught wind of the lawsuit, they uncovered that Matthews did non appear to be affiliated with any church. This led to a astringent, angry public backlash. People shamed Matthews for being a fraud and trying to scam a nice lady out of her rightful winnings.
Ane YouTuber, "Donald the Repentless," was and then mad near this that he put out videos entitled, "F*** Yous Pastor Kevin Matthews." Public opinion was clear that this so-called "pastor" was nothing but a money-grubbing scam artist preying on a squeamish lady to get his easily on a lot of undeserved money.
To Elevation Information technology Off: Infidelity
In more than bad news for Marie and her children, the media reported that her ex-convict swain was being unfaithful. Unfortunately, it was also reported that she herself paid Lamar's mistresses hush money to go away instead of getting rid of him.
In more than reputation damaging news, a video surfaced on Facebook of a woman who claimed that in addition to Lamar cheating on Marie, he was besides stealing coin from her to pay prostitutes for "sexual favors." Unfortunately, the video went viral, every bit 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 by turning to a well-known life coach to get some advice about how to ameliorate her life.
Marie contacted Iyanla Vanzant, who has her own show advising people nearly 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 some other surprising twist, when Marie went on the Iyanla: Set up My Life talk show, her female parent, 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 about your brother that nosotros lost. His birthday, he was the 3rd child, he'd take been 25 that twelvemonth. Those were the numbers." When Marie asked her female parent why she didn't claim the money for herself, Fontella replied, "I just wanted you to better yourself for the babies."
The Scoop on Lamar McDow
Lamar "Hot Sauce" McDow was fortunate enough to stay in Marie'south good graces long plenty to fight jail three times, to the tune of millions in bail and legal fees. The first fourth dimension Marie bailed him out, it price her $iii million in bail coin.
Earlier a year had passed, Lamar was arrested over again, and Marie bailed him out again for $6 meg. The tertiary time Marie bailed out Lamar, it was $12 one thousand thousand. Yous would call back she would have been repulsed by his criminal behavior, but she but kept spending the money, resulting in widespread criticism.
Misery Loves Company
Marie was warned by many people that if she continued her human relationship with Lamar, she could terminate up with criminal charges herself. Unfortunately, that'southward exactly what happened. One night, Lamar violated his parole curfew. When the law came, they discovered marijuana in the firm.
Tragically, Marie was arrested for possession in front of her children. Marijuana remains illegal in Due north Carolina, but there is a pregnant racial bias about who is criminalized for it, according to the ACLU. The same number of white people as black people use marijuana, but blacks are 3.73 times more than probable to be arrested.
The Young man Defense
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 Mail, he asserted, "We are a couple, and I am the begetter of her youngest child. This is what people exercise for each other."
Lamar went on to say, "She has the coin, and she can practise what she wants with information technology. If I had that money, and so I would practice the aforementioned for her. People are merely jealous because of how much she won, and people desire to come across me locked in jail."
The Wolf Pit
During the taping of the Iyanla show, the bad headlines just kept rolling in. Marie'south family and even former friends started accusing her of actually 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 vii-year judgement for charges related to possessing and selling heroin. True 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 almost what to do with some of her money. She ended upwardly giving $nine.7 one thousand thousand to various charities. Part 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. Information technology also holds community events, which are how some children get their school supplies and their Christmas presents. The foundation helps struggling young mothers similar Marie was before she won the lottery.
Do Christians Adventure?
Marie was raised a devout Catholic, and she leans heavily on her Christian organized religion. 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 it comes to Christians gambling.
I pastor said this to the Christian Post: "You tin't be against the lottery, but your youth section is doing a RAFFLE! Same thing, pastor. SAME Thing!" The stigma remains about gambling beingness an irresponsible money-waster. Others argue that there is nix specific said almost gambling in the Bible, so it's okay when it's non 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 ownership the lottery ticket and went on to say, "First, we must guard against our love of money."
It should exist noted that when the Bible does mention "casting lots," it's not normally talking almost cloth gain, just well-nigh God. In an case of this, Proverbs sixteen:33 states, "The lot is cast into the lap, just its every determination is from the Lord."
Some Friendly Advice
We recommend that others read the unfortunate story of Marie Holmes in case they observe themselves in her shoes. It's non at all like shooting fish in a barrel to go from rags to riches, and similar versions of her story take happened to others.
It's important 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 money. Be sure to hire a adept professional fiscal expert to help y'all decide how to manage your coin to avoid reckless decisions.
A Cautionary Tale
If you lot ever happen to find yourself in the unlikely position of winning the lottery some things to picket out for include government laws, lottery rules, state and federal taxes and your previous unpaid debts. These things can help you summate your expendable income.
It may be unwise in the initial excitement to promise lots of charitable giving, similar Marie did, without first doing the math to meet what your have-dwelling corporeality actually is. Multiple millions of dollars may seem like an enormous amount, only as Marie discovered, it'southward easy to fire through it apace if you are uninformed.
Farther Drama
Some recall that Marie had a run of terrible luck after she won the lottery, while others recall she brought her woes upon herself with poor decision-making. A few think the truth lies somewhere in the middle of those two black-and-white judgments.
Aside from spending millions on her boyfriend — who somewhen ended up in federal prison anyway — Marie too made some other questionable decisions later on winning the lotto, such as buying her boyfriend a business of his own and ownership her mother a business firm. She also had harassment charges filed confronting her for allegedly calling a woman repeatedly to threaten her.
The Bottom Line
The ending of this story is generally grim, although Marie Holmes did practice some positive things with a lasting bear upon before 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 than tips, just in example you ever hit it large: Don't trust anyone request for coin, fifty-fifty if they seem to take a very respectable social status (like the pastor who sued Marie Holmes). Remember the good that coin tin can practice, but don't forget the bad. No matter what, don't brand assuming 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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