What Money Do Naked And Afraid Win?
Everybody needs money to survive. It'due south a fact we may non like, but it's notwithstanding a fact. Another inescapable truth is that most of us could use more coin for the things we demand 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 than complicated than that.
Consider this cautionary tale of a adult female in desperate 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 us 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, unmarried mother of four with two depression-paying jobs. On top of this, i of her children had just been diagnosed with cognitive palsy.
Because of her child's special needs, Marie was forced to quit both of her jobs to treat him full fourth dimension. Evidently, the $188 million lottery windfall seemed like a Godsend when Marie won, only unfortunately, she made a series of poor decisions that resulted in her losing information technology all.
Marie's Original Plans
Marie made some promising comments almost what she planned to do with the lottery money — $127 one thousand thousand after she chose to get it in a lump sum. "Showtime I'thou going to pay my tithes, because I wouldn't have none of it if it weren't for God."
"After that, I'm going to prepare accounts for my kids…I'm going to buy a house for me and my kids, and so brand certain my family is all good." Marie likewise 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 claiming those winnings. If a person wins less than $599, the institution 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. Next, in that location is a waiting catamenia for the money to be awarded, and the winner must make full 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 30 years (on average).
Choices, Choices
One of the more than hard 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 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 unremarkably recommend taking the lump sum and investing the money. That allows you the opportunity to make money on your winnings instead of the state. Marie chose the lump sum.
Uncle Sam'due south Cut
Many people don't know how much taxes people have to pay out of lottery winnings in the U.Due south., so nosotros'll suspension it down for you lot. Although the entire tax amount wasn't reported in Marie Holmes' case, she definitely paid millions to the authorities.
In the U.Due south., lottery winnings are considered income by the IRS, on both the country and federal levels. Therefore, North Carolina would have taken 5.eight% of Marie's $127 million, and the Federal Regime would accept taken anywhere from 25% to 39.6%, 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 building and so movement out of her mobile habitation and buy a new house for her children. She also planned to ready higher funds for them.
Marie told NBC, "All the struggle that I ever went through, it was all for [my children]. I want them to understand that money doesn't alter you, just it can help yous." The public fell in love with Marie after hearing about her history of poverty and hard knocks earlier 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 bespeak, she had two jobs — Walmart and McDonald'south — to back up her iv children. Therefore, nobody expected her to make poor decisions about where the money would go.
Of form, no one took into business relationship that Marie was inexperienced and uninformed 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.
Financial Advisor, Please?
When people who aren't wealthy win a lot of coin, it's highly recommended that they seek professional aid about how to manage the coin, including what Non to practise with information technology. The average American has absolutely no experience handling large amounts of money.
Financial advisors warn that fifty-fifty 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 place and she was doing what she thought was right, simply some expert advice definitely would have helped her out.
The Bad Judgment Begins
The start 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 same boyfriend ultimately cost Marie much more. 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 bond 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 judgement, he lived in the $350,000 home that she had purchased afterwards winning the lottery.
According to the Daily Mail, of the original amount of $188 million, Marie was left with almost $88 million after deciding to take her winnings in a lump sum and paying taxes. This is still a very big corporeality of money, but a loss of $100 million is evidently 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 various amounts of coin for all kinds of reasons. Unfortunately, this experience is mutual for lottery winners.
Marie and Lamar were constantly harassed for money handouts, and it became very stressful for them. Marie was quoted equally saying, "When money comes, there are more issues," 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 was an intolerant, primarily white community, and much to the family's chagrin, the residents were not interested in irresolute.
According to Lamar, "Ane neighbor set up a camera to record everything we were doing. If I was driving downwards the road and going at the speed limit, they would wave at me for going also fast. They did not desire us there. They were prejudiced." Lamar reported these disturbing events to the Daily Mail.
The Church building Donation
Marie stayed true to her word, which was reported in a press release as "The start thing she promised was to tithe — give a tenth of her winnings to charity." Marie donated a full of $700,000 to her hometown church, Pleasant Colina Missionary Baptist Church building, located in Shallotte, NC.
The church building reportedly used the money for much-needed renovations. Marie told the press the church was an of import part of her life and her organized religion and that she had been attending that particular church building 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 unit believed him and allowed him into their lives and their home.
Soon after meeting Marie, Pastor Matthews asked her for $ane.5 one thousand thousand so he could build a retreat. Co-ordinate to him, Marie verbally agreed to fund the projection, although at that place is no testify to support that. He and then went alee and began structure on the retreat using his own money. Marie did not contribute.
Wicked Intentions
Citing a verbal agreement 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 $10 million. The corporeality of money named in the adjust was inexplainable, considering the amount he was allegedly promised was much less.
The public believed Pastor Matthews was being ungrateful and greedy. His beliefs seemed unbecoming of a Christian leader to most 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 presently equally the media caught wind of the lawsuit, they uncovered that Matthews did not appear to be affiliated with any church building. This led to a astringent, angry public backlash. People shamed Matthews for existence a fraud and trying to scam a overnice lady out of her rightful winnings.
One YouTuber, "Donald the Repentless," was and then mad nearly this that he put out videos entitled, "F*** You Pastor Kevin Matthews." Public opinion was clear that this and so-chosen "pastor" was null merely a coin-grubbing scam artist preying on a nice lady to go his hands on a lot of undeserved money.
To Top Information technology Off: Adultery
In more bad news for Marie and her children, the media reported that her ex-convict boyfriend was being unfaithful. Unfortunately, information technology was likewise reported that she herself paid Lamar'south mistresses hush coin to go abroad instead of getting rid of him.
In more reputation dissentious news, a video surfaced on Facebook of a woman who claimed that in addition to Lamar cheating on Marie, he was also stealing coin from her to pay prostitutes for "sexual favors." Unfortunately, the video went viral, as 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 charabanc to get some advice about how to improve her life.
Marie contacted Iyanla Vanzant, who has her ain prove 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 changing people's lives for the amend.
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 pregnant.
"I kept dreaming well-nigh your blood brother that nosotros lost. His birthday, he was the third child, 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's good graces long enough to fight jail 3 times, to the tune of millions in bond and legal fees. The first fourth dimension Marie bailed him out, it cost her $3 1000000 in bond coin.
Before a year had passed, Lamar was arrested over again, and Marie bailed him out again for $6 million. The 3rd time Marie bailed out Lamar, information technology was $12 meg. You lot would think she would have been repulsed by his criminal behavior, but she just kept spending the money, resulting in widespread criticism.
Misery Loves Company
Marie was warned by many people that if she connected 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 police came, they discovered marijuana in the house.
Tragically, Marie was arrested for possession in front of her children. Marijuana remains illegal in Northward Carolina, merely there is a meaning racial bias virtually who is criminalized for it, according to the ACLU. The same number of white people every bit blackness people use marijuana, only blacks are three.73 times more probable to be arrested.
The Young man 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 male parent of her youngest child. This is what people do for each other."
Lamar went on to say, "She has the money, and she tin can exercise what she wants with it. If I had that coin, and so 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 evidence, the bad headlines just kept rolling in. Marie'due south family unit and even sometime 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 together to the stress and drama, Lamar went to jail at this time on a 7-yr 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 taste in partners, Marie did make some proficient decisions almost what to do with some of her money. She concluded up giving $nine.7 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's foundation provides necessities for underprivileged children. It besides 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 before she won the lottery.
Practise Christians Gamble?
Marie was raised a devout Catholic, 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 take mixed opinions when it comes to Christians gambling.
1 pastor said this to the Christian Post: "You tin't be against the lottery, only your youth department is doing a RAFFLE! Same affair, pastor. Aforementioned THING!" The stigma remains about gambling being an irresponsible money-waster. Others argue that there is nothing specific said about gambling in the Bible, and so information technology'south okay when information technology'southward 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 coin is where evil originated. He scolded Marie for buying the lottery ticket and went on to say, "Start, we must guard against our honey of money."
It should be noted that when the Bible does mention "casting lots," it'south non ordinarily talking about material proceeds, but about God. In an example of this, Proverbs 16:33 states, "The lot is bandage 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 observe themselves in her shoes. Information technology's not at all like shooting fish in a barrel to go from rags to riches, and similar versions of her story have happened to others.
Information technology's of import to understand tax laws for the long term, the rules of the lottery and investment options if you ever notice yourself in the position of receiving a large windfall of money. Be sure to hire a good professional financial good to assistance y'all decide how to manage your money to avoid reckless decisions.
A Cautionary Tale
If you ever happen to detect yourself in the unlikely position of winning the lottery some things to watch out for include government laws, lottery rules, land and federal taxes and your previous unpaid debts. These things can help y'all summate 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 see what your take-home amount really is. Multiple millions of dollars may seem like an enormous amount, but as Marie discovered, it'south easy to fire through information technology rapidly if yous are uninformed.
Further Drama
Some think that Marie had a run of terrible luck after she won the lottery, while others call up she brought her woes upon herself with poor decision-making. A few think the truth lies somewhere in the centre of those two black-and-white judgments.
Aside from spending millions on her boyfriend — who eventually ended upward in federal prison house anyway — Marie as well made some other questionable decisions after winning the lotto, such equally buying her swain a business organization of his ain and buying her mother a house. She also had harassment charges filed against 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 do some positive things with a lasting impact before the terminal of her money was gone. She didn't seem to realize that she would exist under a microscope with the media and the public.
Here are a couple more tips, just in case you ever hit it big: Don't trust anyone asking for coin, fifty-fifty if they seem to have a very respectable social status (like the pastor who sued Marie Holmes). Remember the proficient that money can do, just don't forget the bad. No affair what, don't make assuming 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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