How Likely Is Trumo to Win Again
Everybody needs money to survive. Information technology's a fact nosotros may not like, simply it's nonetheless a fact. Another inescapable truth is that most of us could employ more money for the things we need as well as the things we just want. That probably makes the hope of winning the lottery sound like a dream come true, but the reality is much more complicated than that.
Consider this cautionary tale of a woman in drastic need who won an unbelievable amount of money. The choices and mistakes she fabricated after winning ultimately resulted in losing it all. Her story reminds us all to never forget that coin doesn't buy happiness.
Encounter Marie Holmes
When she was 26, Marie Holmes was living a difficult life in North Carolina. She was a hard-working, unmarried mother of four with 2 low-paying jobs. On top of this, one of her children had just been diagnosed with cerebral palsy.
Because of her child'southward special needs, Marie was forced to quit both of her jobs to intendance for him full fourth dimension. Evidently, 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 it all.
Marie's 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. "Starting time I'chiliad going to pay my tithes, because I wouldn't accept none of it if it weren't for God."
"After that, I'm going to set up accounts for my kids…I'm going to purchase a firm for me and my kids, then make sure my family is all practiced." Marie also told WGN-TV, "I don't have to worry about the word 'struggle' no more than and neither practice [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 establishment that sold them the ticket pays them their winnings. However, there is a lengthy process involved in claiming large lottery winnings.
The ticket has to be verified by a scanning machine. Adjacent, at that place is a waiting menstruum for the money to exist awarded, and the winner must fill out some identification paperwork. Final, the winner must make up one's mind if they want all the coin in a lump sum or have it dispersed in installments for 30 years (on average).
Choices, Choices
1 of the more difficult choices when a person wins millions of dollars in a lottery is whether to become the coin in a lump sum or in installments. The dilemma occurs because there is a big penalty for getting all the money faster in a lump sum.
Marie had the choice of collecting the unabridged $188 million over 30 years or forfeiting $61 million and collecting the remaining $127 1000000 much sooner. Fiscal experts commonly 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'south Cut
Many people don't know how much taxes people have to pay out of lottery winnings in the U.S., and so we'll suspension information technology down for you. 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 by the IRS, on both the state and federal levels. Therefore, Due north Carolina would have taken 5.8% of Marie's $127 meg, and the Federal Government would have taken anywhere from 25% to 39.six%, depending on taxation bracket and other factors. Most 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 building and then move out of her mobile home and buy a new business firm for her children. She too planned to set up college funds for them.
Marie told NBC, "All the struggle that I e'er went through, it was all for [my children]. I want them to empathize that money doesn't change you, but information technology tin can help you." The public fell in dear with Marie after hearing almost her history of poverty and hard knocks earlier 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, according 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 iv children. Therefore, nobody expected her to make poor decisions most where the money would become.
Of course, no ane took into account that Marie was inexperienced and uninformed most how to handle large amounts of coin. When she started deciding how to spend the lottery money, the public viewed her as immature and irresponsible.
Financial Advisor, Delight?
When people who aren't wealthy win a lot of money, it's highly recommended that they seek professional help most how to manage the money, including what Not to do with it. The boilerplate American has admittedly no feel treatment big amounts of money.
Financial advisors warn that even titanic amounts of coin can disappear rapidly if it isn't invested wisely. In the case of Marie Holmes, it seemed similar her heart was in the right place and she was doing what she thought was right, but some expert advice definitely would take helped her out.
The Bad Judgment Begins
The starting time thing dubbed a poor judgment 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 aforementioned young man ultimately price 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 April 2016. He continued to go arrested throughout their relationship, and Marie spent millions on his bail and defence force.
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 subsequently serving his sentence, he lived in the $350,000 home that she had purchased after winning the lottery.
Co-ordinate to the Daily Mail, of the original amount of $188 meg, Marie was left with well-nigh $88 1000000 later on deciding to take her winnings in a lump sum and paying taxes. This is still a very big amount of money, just 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 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 as saying, "When money comes, there are more problems," according to reports.
Racial Intolerance in Their New Abode
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.
According to Lamar, "1 neighbor set upwards a camera to record everything we were doing. If I was driving downwardly the route and going at the speed limit, they would wave at me for going besides fast. They did not want u.s.a. there. They were prejudiced." Lamar reported these disturbing events to the Daily Postal service.
The Church Donation
Marie stayed true to her discussion, which was reported in a press release as "The starting time thing 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 Hill 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 important role of her life and her faith and that she had been attending that detail church since she was a kid.
Pastor Disaster
Unfortunately, a unlike 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 after meeting Marie, Pastor Matthews asked her for $i.5 million so he could build a retreat. Co-ordinate to him, Marie verbally agreed to fund the project, although in that location is no bear witness to back up that. He so 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 $i.5 million for his retreat, Pastor Kevin Matthews announced publicly that he was suing Marie Holmes for $10 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 beingness ungrateful and greedy. His behavior seemed unbecoming of a Christian leader to most people of faith. The justification for his lawsuit was that he had a verbal understanding with Marie for a money 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 be 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 nearly this that he put out videos entitled, "F*** You lot Pastor Kevin Matthews." Public stance was clear that this so-called "pastor" was nada but a money-grubbing scam artist preying on a nice lady to go his hands on a lot of undeserved money.
To Tiptop Information technology Off: Infidelity
In more bad news for Marie and her children, the media reported that her ex-convict boyfriend was existence unfaithful. Unfortunately, it was as well reported that she herself paid Lamar'due south 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 improver 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 nether 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 motorcoach to become 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'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 actually hers and that they had a very special meaning.
"I kept dreaming nigh your brother that nosotros lost. His altogether, he was the third 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 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'due south good graces long enough to fight jail 3 times, to the tune of millions in bail and legal fees. The offset fourth dimension Marie bailed him out, it cost her $three million in bond money.
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 1000000. Yous would think she would have been repulsed by his criminal beliefs, only she just 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'south exactly what happened. One night, Lamar violated his parole curfew. When the police came, they discovered marijuana in the business firm.
Tragically, Marie was arrested for possession in front of her children. Marijuana remains illegal in North Carolina, but there is a significant racial bias about who is criminalized for it, co-ordinate to the ACLU. The same number of white people as black people apply marijuana, but blacks are 3.73 times more likely to be arrested.
The Beau 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 service, he asserted, "Nosotros are a couple, and I am the begetter of her youngest child. This is what people do for each other."
Lamar went on to say, "She has the money, 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 want to encounter me locked in jail."
The Wolf Pit
During the taping of the Iyanla prove, the bad headlines just kept rolling in. Marie's family unit and fifty-fifty former friends started accusing her of actually stealing the lottery ticket from her female parent, despite Fontella freely albeit 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 seven-year sentence for charges related to possessing and selling heroin. True to form, Marie persisted in pushing forrad and moving on with her life, demonstrating her strength and resilience.
A Goal Met
Despite poor gustation in partners, Marie did make some skillful decisions well-nigh what to do with some of her money. She ended up giving $9.7 meg to diverse charities. Office of that coin 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. It also holds community events, which are how some children become their school supplies and their Christmas presents. The foundation helps struggling young mothers like Marie was earlier she won the lottery.
Exercise Christians Risk?
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 it tends to be frowned upon by the church. People accept mixed opinions when information technology comes to Christians gambling.
One pastor said this to the Christian Mail: "You lot can't be confronting the lottery, merely your youth department is doing a RAFFLE! Aforementioned matter, pastor. Same Matter!" The stigma remains about gambling being an irresponsible money-waster. Others fence that there is zilch specific said virtually gambling in the Bible, so it's okay when it's not driveling.
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, "First, we must guard confronting our love of money."
Information technology should be noted that when the Bible does mention "casting lots," it's 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, simply its every determination is from the Lord."
Some Friendly Advice
We recommend that others read the unfortunate story of Marie Holmes in case they detect themselves in her shoes. It's not at all piece of cake to go from rags to riches, and similar versions of her story take happened to others.
It's of import to understand tax laws for the long term, the rules of the lottery and investment options if you e'er find yourself in the position of receiving a large windfall of money. Be sure to rent a good professional financial expert to help you determine how to manage your money to avoid reckless decisions.
A Cautionary Tale
If you ever happen to notice 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 tin can assist you lot calculate your expendable income.
Information technology may be unwise in the initial excitement to promise lots of charitable giving, similar Marie did, without first doing the math to see what your take-home corporeality actually is. Multiple millions of dollars may seem like an enormous corporeality, but as Marie discovered, it's easy to burn down through it chop-chop if yous are uninformed.
Further Drama
Some retrieve that Marie had a run of terrible luck after she won the lottery, while others think she brought her woes upon herself with poor controlling. 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 eventually concluded up in federal prison anyhow — Marie likewise made some other questionable decisions later on winning the lotto, such as buying her beau a business of his own and buying her female parent a house. She besides had harassment charges filed confronting her for allegedly calling a woman repeatedly to threaten her.
The Bottom Line
The ending of this story is more often than not grim, although Marie Holmes did exercise some positive things with a lasting impact 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 tips, but in case you e'er hit it large: Don't trust anyone asking for money, even if they seem to have a very respectable social condition (like the pastor who sued Marie Holmes). Remember the skillful that coin can do, but don't forget the bad. No affair what, don't make assuming promises immediately later on 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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