Did James Win on Jeopardy Again Todaydid
Everybody needs coin to survive. Information technology's a fact nosotros may not similar, merely it's yet a fact. Another inescapable truth is that most of us could use more coin for the things we need as well equally the things we just want. That probably makes the hope of winning the lottery sound like a dream come true, just the reality is much more complicated than that.
Consider this cautionary tale of a adult female in drastic need who won an unbelievable amount of money. The choices and mistakes she made after winning ultimately resulted in losing it all. Her story reminds the states 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 N Carolina. She was a hard-working, single mother of four with two low-paying jobs. On acme of this, one of her children had just been diagnosed with cognitive palsy.
Because of her kid's special needs, Marie was forced to quit both of her jobs to care for him total time. Manifestly, the $188 million lottery windfall seemed like a Godsend when Marie won, merely 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 meg after she chose to get it in a lump sum. "Showtime I'm going to pay my tithes, because I wouldn't have none of information technology if it weren't for God."
"Subsequently that, I'm going to prepare accounts for my kids…I'm going to purchase a business firm for me and my kids, and then brand sure my family is all good." Marie also told WGN-Tv set, "I don't have to worry near the word 'struggle' no more and neither practice [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 claiming large lottery winnings.
The ticket has to be verified past a scanning machine. Adjacent, there is a waiting flow for the money to exist awarded, and the winner must fill out some identification paperwork. Last, the winner must decide if they want all the coin in a lump sum or have it dispersed in installments for xxx years (on average).
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 in that location 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 million much sooner. Financial experts commonly recommend taking the lump sum and investing the coin. That allows you the opportunity to make coin on your winnings instead of the country. 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., so we'll break it 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 past the IRS, on both the state and federal levels. Therefore, North Carolina would accept taken 5.viii% of Marie'southward $127 million, and the Federal Government would take taken anywhere from 25% to 39.six%, depending on tax 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 and then movement out of her mobile home and buy a new house for her children. She also planned to prepare up higher 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 understand that money doesn't change you, but it can help you lot." The public fell in love with Marie after 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 difficult-working, single mother who, co-ordinate to her family and friends, "understood the value of a dollar." At one bespeak, she had two jobs — Walmart and McDonald'due south — to support her four children. Therefore, nobody expected her to make poor decisions almost where the money would get.
Of grade, no one 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 as immature and irresponsible.
Financial Counselor, Delight?
When people who aren't wealthy win a lot of money, it's highly recommended that they seek professional assistance about how to manage the coin, including what Non to do with information technology. The boilerplate American has absolutely no feel handling large amounts of money.
Fiscal advisors warn that even titanic amounts of money can disappear rapidly if it isn't invested wisely. In the example of Marie Holmes, it seemed like her heart was in the right identify 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 $xv,000 Rolex that Marie bought her beau, Lamar "Hot Sauce" McDow. The picket was more than jewelry than a timepiece and was reportedly "dripping with diamonds."
That same swain 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 continued to go arrested throughout their relationship, and Marie spent millions on his bail and defense.
The Saga Continues
Before existence 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 home that she had purchased subsequently winning the lottery.
Co-ordinate to the Daily Post, of the original amount of $188 million, Marie was left with virtually $88 meg afterward deciding to take her winnings in a lump sum and paying taxes. This is all the same a very large amount of money, but a loss of $100 one thousand thousand 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 unit members and numerous others, all requesting various 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 Home
Some other problem that plagued Marie and her family in their new life in their new habitation 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 unit'southward chagrin, the residents were not interested in changing.
According to Lamar, "One neighbor prepare upward a camera to record everything we were doing. If I was driving down the road and going at the speed limit, they would moving ridge at me for going too fast. They did not want 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 printing release as "The first affair 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 building, located in Shallotte, NC.
The church reportedly used the money 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 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 it later, Marie and her family believed him and immune him into their lives and their home.
Before long afterwards meeting Marie, Pastor Matthews asked her for $i.five million and so he could build a retreat. According to him, Marie verbally agreed to fund the project, although there is no evidence to support that. He then went ahead and began construction on the retreat using his ain coin. Marie did not contribute.
Wicked Intentions
Citing a verbal understanding in which Marie allegedly promised to donate $1.5 million for his retreat, Pastor Kevin Matthews announced publicly that he was suing Marie Holmes for $x million. The corporeality of money named in the suit was baffling, because 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 near 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 as the media defenseless current of air of the lawsuit, they uncovered that Matthews did not appear to exist affiliated with any church. This led to a severe, angry public backlash. People shamed Matthews for existence a fraud and trying to scam a nice lady out of her rightful winnings.
Ane YouTuber, "Donald the Repentless," was and so mad about this that he put out videos entitled, "F*** You Pastor Kevin Matthews." Public opinion was articulate that this and then-called "pastor" was nada only a coin-grubbing scam artist preying on a dainty lady to get his hands on a lot of undeserved money.
To Meridian It Off: Infidelity
In more bad news for Marie and her children, the media reported that her ex-captive boyfriend was being unfaithful. Unfortunately, information technology was also reported that she herself paid Lamar'south mistresses hush coin to get away 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 also stealing money from her to pay prostitutes for "sexual favors." Unfortunately, the video went viral, as juicy gossip oft 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 easily by turning to a well-known life coach to become some advice virtually how to improve her life.
Marie contacted Iyanla Vanzant, who has her own prove 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 irresolute people's lives for the better.
The Truth Revealed
In another surprising twist, when Marie went on the Iyanla: Prepare 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 pregnant.
"I kept dreaming about your brother that nosotros lost. His altogether, he was the third kid, he'd have been 25 that year. Those were the numbers." When Marie asked her mother why she didn't claim the coin for herself, Fontella replied, "I just 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 three times, to the tune of millions in bond and legal fees. The first time Marie bailed him out, information technology cost her $three million in bail money.
Before a year had passed, Lamar was arrested over again, and Marie bailed him out once more for $vi million. The third time Marie bailed out Lamar, it was $12 1000000. You would think she would have been repulsed by his criminal beliefs, merely she but kept spending the coin, resulting in widespread criticism.
Misery Loves Company
Marie was warned by many people that if she continued her 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 constabulary came, they discovered marijuana in the house.
Tragically, Marie was arrested for possession in front of her children. Marijuana remains illegal in Northward Carolina, but there is a meaning racial bias almost who is criminalized for information technology, co-ordinate to the ACLU. The same number of white people equally black people use marijuana, but blacks are iii.73 times more likely to be arrested.
The Boyfriend Defence
Lamar somewhen got angry at the people criticizing Marie for spending her coin bailing him out of jail, and he lashed out. To the Daily Post, 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 exercise what she wants with information technology. If I had that money, then I would do the same for her. People are just jealous because of how much she won, and people want to see me locked in jail."
The Wolf Pit
During the taping of the Iyanla show, the bad headlines merely kept rolling in. Marie's family and even onetime friends started accusing her of actually 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 vii-year sentence for charges related to possessing and selling heroin. True to form, Marie persisted in pushing frontwards and moving on with her life, demonstrating her strength and resilience.
A Goal Met
Despite poor gustatory modality in partners, Marie did make some good decisions about what to exercise with some of her money. She concluded up giving $9.7 million to various charities. Part of that money went to the make-new Marie Holmes Foundation, which was established to provide for children in need.
Marie'southward foundation provides necessities for underprivileged children. Information technology likewise 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 earlier she won the lottery.
Practise Christians Take chances?
Marie was raised a devout Catholic, and she leans heavily on her Christian religion. Some people criticized her for playing the lottery at all, because it tends to be frowned upon by the church. People have mixed opinions when it comes to Christians gambling.
One pastor said this to the Christian Post: "You can't be against the lottery, just your youth department is doing a RAFFLE! Same thing, pastor. SAME Matter!" The stigma remains about gambling existence an irresponsible money-waster. Others argue that in that location is nothing specific said about gambling in the Bible, so it'due south okay when information technology's not driveling.
The Root of All Evil
Other religious people, such as i pastor cited in the Christian Mail, 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, "Beginning, we must guard against our honey of money."
It should be noted that when the Bible does mention "casting lots," it'south 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 conclusion 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. It's not at all easy to get from rags to riches, and like versions of her story have happened to others.
It'due south 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 proficient professional financial expert to assist you decide how to manage your money to avoid reckless decisions.
A Cautionary Tale
If yous e'er happen to detect yourself in the unlikely position of winning the lottery some things to lookout out for include government laws, lottery rules, land and federal taxes and your previous unpaid debts. These things can help you lot calculate your expendable income.
It may be unwise in the initial excitement to promise lots of charitable giving, like Marie did, without outset doing the math to see what your accept-home amount actually is. Multiple millions of dollars may seem similar an enormous amount, only as Marie discovered, it's like shooting fish in a barrel to burn through information technology 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 determination-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 eventually concluded up in federal prison anyway — Marie also made some other questionable decisions after winning the lotto, such as ownership her boyfriend a business of his ain and buying her mother a business firm. She also had harassment charges filed against her for allegedly calling a woman repeatedly to threaten her.
The Bottom Line
The catastrophe of this story is by and large grim, although Marie Holmes did do some positive things with a lasting impact before the final 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 case you ever hit it big: Don't trust anyone asking for money, even if they seem to have a very respectable social status (similar the pastor who sued Marie Holmes). Call up the skillful that coin tin can do, but don't forget the bad. No affair what, don't brand bold promises immediately after 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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