Hot Chocolate So You Win Again
Everybody needs money to survive. It's a fact we may not like, merely it's still a fact. Another inescapable truth is that most of us could employ more coin for the things we need likewise every bit the things we just want. That probably makes the hope of winning the lottery sound like a dream come truthful, only the reality is much more than complicated than that.
Consider this cautionary tale of a adult female in drastic demand who won an unbelievable amount of coin. The choices and mistakes she fabricated after winning ultimately resulted in losing it all. Her story reminds the states all to never forget that money doesn't buy happiness.
Come across Marie Holmes
When she was 26, Marie Holmes was living a difficult life in Due north Carolina. She was a hard-working, single mother of four with two depression-paying jobs. On top of this, ane of her children had just been diagnosed with cerebral palsy.
Considering of her child's special needs, Marie was forced to quit both of her jobs to treat him full time. Evidently, the $188 million lottery windfall seemed similar a Godsend when Marie won, but unfortunately, she fabricated a series of poor decisions that resulted in her losing it all.
Marie made some promising comments about what she planned to practice with the lottery money — $127 meg after she chose to go information technology in a lump sum. "Commencement I'm going to pay my tithes, because I wouldn't take none of it if it weren't for God."
"Subsequently that, I'chiliad going to prepare accounts for my kids…I'm going to buy a house for me and my kids, and then make sure my family is all expert." Marie as well told WGN-Boob tube, "I don't take to worry almost the word 'struggle' no more and neither do [my children]."
The Waiting Game
Although most lottery winnings are not life changing, lottery jackpots are huge, and there are rules for challenge 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 big lottery winnings.
The ticket has to be verified by a scanning automobile. Next, there is a waiting period for the coin to be awarded, and the winner must make full 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
One of the more difficult choices when a person wins millions of dollars in a lottery is whether to become the money in a lump sum or in installments. The dilemma occurs because there is a big punishment for getting all the coin faster in a lump sum.
Marie had the choice of collecting the entire $188 1000000 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 y'all the opportunity to brand money on your winnings instead of the state. Marie chose the lump sum.
Uncle Sam'due south Cutting
Many people don't know how much taxes people have to pay out of lottery winnings in the U.South., so we'll break 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.South., lottery winnings are considered income by the IRS, on both the country and federal levels. Therefore, North Carolina would take taken 5.viii% 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. Nearly 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 kickoff to her church building and and so move out of her mobile home and buy a new house for her children. She also planned to fix college funds for them.
Marie told NBC, "All the struggle that I ever went through, it was all for [my children]. I want them to sympathise that money doesn't change y'all, but it can help you." The public savage in love with Marie later hearing near 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 unit and friends, "understood the value of a dollar." At ane indicate, she had ii jobs — Walmart and McDonald'due south — to support her iv children. Therefore, nobody expected her to brand poor decisions virtually where the money would become.
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 Counselor, Delight?
When people who aren't wealthy win a lot of coin, it'southward highly recommended that they seek professional aid virtually how to manage the money, including what Not to exercise with it. The average American has absolutely no experience handling big amounts of money.
Fiscal advisors warn that fifty-fifty titanic amounts of money tin disappear quickly if it isn't invested wisely. In the case of Marie Holmes, information technology seemed like her heart was in the right identify and she was doing what she thought was right, but some expert communication definitely would have helped her out.
The Bad Judgment Begins
The first thing dubbed a poor judgment call by the public was the $15,000 Rolex that Marie bought her young man, Lamar "Hot Sauce" McDow. The sentry was more jewelry than a timepiece and was reportedly "dripping with diamonds."
That same boyfriend ultimately cost Marie much more. The Port Urban center 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 get arrested throughout their relationship, and Marie spent millions on his bail and defense.
The Saga Continues
Earlier 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 abode that she had purchased after winning the lottery.
Co-ordinate to the Daily Post, of the original amount of $188 million, Marie was left with about $88 meg afterward deciding to take her winnings in a lump sum and paying taxes. This is nonetheless a very large amount of coin, 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 coin after 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 money handouts, and it became very stressful for them. Marie was quoted as maxim, "When coin 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 home 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'due south chagrin, the residents were non interested in irresolute.
According to Lamar, "One neighbor ready 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 as well fast. They did non desire us there. They were prejudiced." Lamar reported these disturbing events to the Daily Post.
The Church Donation
Marie stayed true to her word, which was reported in a press release every bit "The showtime 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 printing the church was an of import role 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 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, Marie and her family believed him and allowed him into their lives and their home.
Shortly later on meeting Marie, Pastor Matthews asked her for $1.five million and then he could build a retreat. According to him, Marie verbally agreed to fund the projection, although at that place is no evidence to support that. He then went ahead and began construction on the retreat using his own money. Marie did not contribute.
Wicked Intentions
Citing a exact understanding in which Marie allegedly promised to donate $1.5 meg for his retreat, Pastor Kevin Matthews announced publicly that he was suing Marie Holmes for $10 million. The amount of money named in the conform 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 nearly 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 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, aroused public backlash. People shamed Matthews for being a fraud and trying to scam a nice lady out of her rightful winnings.
1 YouTuber, "Donald the Repentless," was so mad about this that he put out videos entitled, "F*** You Pastor Kevin Matthews." Public opinion was clear that this and then-called "pastor" was nix merely a money-grubbing scam creative person preying on a nice lady to become his hands on a lot of undeserved money.
To Top Information technology Off: Infidelity
In more bad news for Marie and her children, the media reported that her ex-convict beau was existence unfaithful. Unfortunately, it was as well reported that she herself paid Lamar'southward mistresses hush coin to go abroad 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 as well 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 desperate measures to improve her circumstances. She gathered her strength and took matters into her own hands by turning to a well-known life passenger vehicle to get some advice near how to improve her life.
Marie contacted Iyanla Vanzant, who has her ain show advising people about their relationships on the Oprah Network. Vanzant is a renowned author and motivational speaker with a huge post-obit due to her reputation for changing people's lives for the better.
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 actually hers and that they had a very special meaning.
"I kept dreaming about your brother that we lost. His altogether, he was the 3rd kid, he'd have 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 simply wanted you to ameliorate 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 iii times, to the melody of millions in bond and legal fees. The outset fourth dimension Marie bailed him out, it cost her $3 1000000 in bond money.
Before a year had passed, Lamar was arrested again, and Marie bailed him out once more for $half dozen million. The third time Marie bailed out Lamar, it was $12 million. 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 continued her human relationship with Lamar, she could end up with criminal charges herself. Unfortunately, that's exactly what happened. One night, Lamar violated his parole curfew. When the police came, they discovered marijuana in the house.
Tragically, Marie was arrested for possession in front of her children. Marijuana remains illegal in Due north Carolina, but there is a meaning racial bias most who is criminalized for it, co-ordinate to the ACLU. The aforementioned number of white people equally black people use marijuana, just blacks are 3.73 times more than likely to be arrested.
The Boyfriend Defense
Lamar somewhen 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 father of her youngest child. This is what people do for each other."
Lamar went on to say, "She has the money, and she can do what she wants with it. If I had that money, then I would exercise the aforementioned for her. People are just jealous because of how much she won, and people desire to encounter me locked in jail."
The Wolf Pit
During the taping of the Iyanla evidence, the bad headlines just kept rolling in. Marie'south family and even old 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 to the stress and drama, Lamar went to jail at this time on a vii-year sentence for charges related to possessing and selling heroin. True to form, Marie persisted in pushing forward and moving on with her life, demonstrating her force and resilience.
A Goal Met
Despite poor taste in partners, Marie did make some good decisions nearly what to exercise with some of her money. She ended upwards giving $ix.7 one thousand thousand to various charities. Office of that money went to the brand-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 go their school supplies and their Christmas presents. The foundation helps struggling young mothers like Marie was before she won the lottery.
Practise Christians Take chances?
Marie was raised a devout Cosmic, 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 information technology comes to Christians gambling.
Ane pastor said this to the Christian Post: "You tin can't exist confronting the lottery, only your youth department is doing a RAFFLE! Same matter, pastor. SAME THING!" The stigma remains about gambling beingness an irresponsible money-waster. Others argue that there is nothing specific said about gambling in the Bible, so it's okay when it'due south not abused.
The Root of All Evil
Other religious people, such as i 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, "Get-go, nosotros must guard against our love of money."
Information technology should be noted that when the Bible does mention "casting lots," it'southward not usually talking about material gain, but about God. In an example of this, Proverbs xvi:33 states, "The lot is cast into the lap, only its every decision is from the Lord."
Some Friendly Advice
We recommend that others read the unfortunate story of Marie Holmes in example 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'south of import to empathise tax laws for the long term, the rules of the lottery and investment options if you lot ever find yourself in the position of receiving a big windfall of money. Exist sure to rent a good professional person financial expert to help you decide how to manage your money to avert reckless decisions.
A Cautionary Tale
If yous always happen to find yourself in the unlikely position of winning the lottery some things to watch out for include authorities laws, lottery rules, land and federal taxes and your previous unpaid debts. These things can assist you calculate your expendable income.
Information technology may be unwise in the initial excitement to promise lots of charitable giving, like Marie did, without first doing the math to run across what your have-home amount really is. Multiple millions of dollars may seem like an enormous amount, but 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 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 ii black-and-white judgments.
Aside from spending millions on her fellow — who eventually ended upwards in federal prison anyway — Marie also fabricated some other questionable decisions later on winning the lotto, such as buying her boyfriend a concern of his own and buying her mother a house. She also had harassment charges filed against her for allegedly calling a adult female repeatedly to threaten her.
The Bottom Line
The ending of this story is mostly grim, although Marie Holmes did do some positive things with a lasting touch before the last of her money 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 tips, just in case you lot e'er hit information technology 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 can practise, but don't forget the bad. No affair what, don't make bold promises immediately afterward 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
0 Response to "Hot Chocolate So You Win Again"
Post a Comment