If the President Wins 2 Terms Can He Run Again
Everybody needs money to survive. It's a fact we may not like, but it'southward nevertheless a fact. Some other inescapable truth is that about of the states could use more money for the things nosotros demand too as the things nosotros only want. That probably makes the hope of winning the lottery audio like a dream come truthful, but the reality is much more 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 made after winning ultimately resulted in losing it all. Her story reminds us all to never forget that money 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, single female parent of four with 2 low-paying jobs. On top of this, one 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 intendance for him total time. Plainly, the $188 million lottery windfall seemed like a Godsend when Marie won, only unfortunately, she fabricated a serial of poor decisions that resulted in her losing it all.
Marie'southward Original Plans
Marie made some promising comments about what she planned to do with the lottery coin — $127 million after she chose to get it in a lump sum. "First I'm going to pay my tithes, because I wouldn't accept none of it if it weren't for God."
"Afterward that, I'g going to prepare accounts for my kids…I'm going to purchase a house for me and my kids, then brand certain my family unit is all practiced." Marie also told WGN-TV, "I don't accept 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 establishment that sold them the ticket pays them their winnings. However, at that place is a lengthy process involved in challenge big lottery winnings.
The ticket has to exist verified by a scanning machine. Side by side, at that place is a waiting period for the coin to be awarded, and the winner must fill out some identification paperwork. Concluding, the winner must determine if they desire all the coin in a lump sum or accept it dispersed in installments for 30 years (on average).
Choices, Choices
1 of the more than difficult choices when a person wins millions of dollars in a lottery is whether to go the money in a lump sum or in installments. The dilemma occurs considering 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 thirty 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 brand 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., so we'll break information technology downward 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, Due north Carolina would have taken 5.8% of Marie'southward $127 million, and the Federal Government would take taken anywhere from 25% to 39.6%, depending on tax subclass and other factors. Most people pay the highest rate.
Setting an Case
When Marie won the lottery, she had plans that all sounded very honorable. She said she would donate start to her church and and so move out of her mobile habitation and purchase a new house for her children. She also planned to set upwards 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 understand that coin doesn't change you, just it can assistance you." The public fell in love with Marie after hearing well-nigh 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, unmarried mother who, according to her family and friends, "understood the value of a dollar." At one bespeak, she had ii jobs — Walmart and McDonald'due south — to back up her 4 children. Therefore, nobody expected her to brand poor decisions nearly where the coin would become.
Of course, no one took into business relationship that Marie was inexperienced and uninformed most how to handle large amounts of money. When she started deciding how to spend the lottery money, the public viewed her equally immature and irresponsible.
Financial Counselor, Please?
When people who aren't wealthy win a lot of money, it'due south highly recommended that they seek professional aid about how to manage the coin, including what Not to do with it. The boilerplate American has absolutely no experience handling big amounts of coin.
Financial advisors warn that even titanic amounts of coin tin disappear quickly if it isn't invested wisely. In the instance of Marie Holmes, information technology seemed like her heart was in the correct place and she was doing what she thought was correct, only some expert advice definitely would take helped her out.
The Bad Judgment Begins
The first thing dubbed a poor judgment call past the public was the $fifteen,000 Rolex that Marie bought her boyfriend, Lamar "Hot Sauce" McDow. The sentry was more jewelry than a timepiece and was reportedly "dripping with diamonds."
That same young man ultimately cost Marie much more. The Port City Daily reported Lamar was a gang fellow 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 get arrested throughout their relationship, and Marie spent millions on his bail and defense.
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 later on serving his sentence, he lived in the $350,000 home that she had purchased after winning the lottery.
According to the Daily Mail, of the original amount of $188 one thousand thousand, Marie was left with almost $88 million after deciding to take her winnings in a lump sum and paying taxes. This is all the same a very large corporeality of coin, simply a loss of $100 1000000 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 various amounts of coin 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 equally maxim, "When coin comes, there are more problems," co-ordinate to reports.
Racial Intolerance in Their New Home
Another trouble 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's chagrin, the residents were not interested in changing.
According to Lamar, "1 neighbour prepare a photographic camera to record everything we were doing. If I was driving downwardly the road and going at the speed limit, they would wave at me for going as well fast. They did non want us at that place. 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 Hill Missionary Baptist Church, located in Shallotte, NC.
The church reportedly used the money for much-needed renovations. Marie told the press the church building was an of import part of her life and her religion and that she had been attending that particular church building since she was a child.
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 it later on, Marie and her family believed him and allowed him into their lives and their dwelling.
Before long after meeting Marie, Pastor Matthews asked her for $1.5 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 alee and began construction on the retreat using his own coin. Marie did not contribute.
Wicked Intentions
Citing a verbal agreement in which Marie allegedly promised to donate $ane.5 million for his retreat, Pastor Kevin Matthews appear publicly that he was suing Marie Holmes for $x million. The amount of money 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 most people of religion. 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
As shortly every bit the media caught wind of the lawsuit, they uncovered that Matthews did not announced to be affiliated with any church. This led to a severe, aroused public backfire. People shamed Matthews for being a fraud and trying to scam a nice lady out of her rightful winnings.
I YouTuber, "Donald the Repentless," was so mad well-nigh this that he put out videos entitled, "F*** Yous Pastor Kevin Matthews." Public opinion was clear that this so-called "pastor" was nada but a coin-grubbing scam creative person preying on a prissy lady to get his easily on a lot of undeserved money.
To Elevation It Off: Adultery
In more than bad news for Marie and her children, the media reported that her ex-convict young man was being unfaithful. Unfortunately, it was as well reported that she herself paid Lamar's mistresses hush money to go away instead of getting rid of him.
In more reputation damaging news, a video surfaced on Facebook of a woman 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, 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 better her circumstances. She gathered her strength and took matters into her own easily by turning to a well-known life coach to get some advice nigh 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 post-obit due to her reputation for changing people'due south lives for the meliorate.
The Truth Revealed
In another surprising twist, when Marie went on the Iyanla: Prepare My Life talk evidence, 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 about your brother that we lost. His birthday, he was the third child, he'd have been 25 that year. 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 lot to meliorate yourself for the babies."
The Scoop on Lamar McDow
Lamar "Hot Sauce" McDow was fortunate enough to stay in Marie's good graces long plenty to fight jail three times, to the tune of millions in bail and legal fees. The first time Marie bailed him out, it toll her $3 million in bond money.
Before a year had passed, Lamar was arrested again, and Marie bailed him out once again for $half dozen 1000000. The third fourth dimension Marie bailed out Lamar, information technology was $12 one thousand thousand. You would think she would take been repulsed by his criminal behavior, just she just kept spending the money, 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 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 at that place is a significant racial bias about who is criminalized for information technology, according to the ACLU. The same number of white people every bit blackness people utilise marijuana, but blacks are 3.73 times more than probable to be arrested.
The Boyfriend Defence force
Lamar eventually got angry at the people criticizing Marie for spending her coin 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 kid. 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 information technology. If I had that money, and so I would do the aforementioned for her. People are merely 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 just kept rolling in. Marie's family and even former friends started accusing her of really stealing the lottery ticket from her mother, despite Fontella freely albeit on boob tube 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-twelvemonth sentence for charges related to possessing and selling heroin. True to course, Marie persisted in pushing forward 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 almost what to do with some of her money. She ended upward giving $9.seven meg to diverse charities. Function of that money 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 go their schoolhouse supplies and their Christmas presents. The foundation helps struggling young mothers similar Marie was before she won the lottery.
Do Christians Gamble?
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 have mixed opinions when it comes to Christians gambling.
One pastor said this to the Christian Mail: "You can't be confronting the lottery, but your youth department is doing a RAFFLE! Same matter, pastor. Same Affair!" The stigma remains about gambling being an irresponsible money-waster. Others fence that there is nothing specific said about gambling in the Bible, so it'southward okay when information technology'south non driveling.
The Root of All Evil
Other religious people, such every bit 1 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 against our beloved of money."
It should be noted that when the Bible does mention "casting lots," information technology'south not usually talking well-nigh fabric gain, but nearly God. In an instance of this, Proverbs 16:33 states, "The lot is cast into the lap, just its every decision is from the Lord."
Some Friendly Advice
We recommend that others read the unfortunate story of Marie Holmes in instance they notice themselves in her shoes. It's not at all easy to go from rags to riches, and like versions of her story have happened to others.
Information technology'south important to understand tax laws for the long term, the rules of the lottery and investment options if you ever observe yourself in the position of receiving a large windfall of money. Be sure to hire a good professional person financial expert to help yous decide how to manage your money to avoid reckless decisions.
A Cautionary Tale
If y'all e'er happen to find yourself in the unlikely position of winning the lottery some things to picket out for include government laws, lottery rules, land and federal taxes and your previous unpaid debts. These things tin help yous summate your expendable income.
Information technology may be unwise in the initial excitement to hope lots of charitable giving, like Marie did, without offset doing the math to encounter what your accept-home amount really is. Multiple millions of dollars may seem like an enormous amount, but as Marie discovered, information technology'south easy to burn through it quickly if you are uninformed.
Further Drama
Some recall that Marie had a run of terrible luck after she won the lottery, while others call back she brought her woes upon herself with poor controlling. A few think the truth lies somewhere in the heart of those ii black-and-white judgments.
Bated from spending millions on her boyfriend — who somewhen ended upwards in federal prison anyway — Marie likewise made some other questionable decisions afterwards winning the lotto, such as ownership her swain a business of his ain and buying her mother a house. She likewise had harassment charges filed against her for allegedly calling a adult female repeatedly to threaten her.
The Lesser Line
The ending of this story is mostly grim, although Marie Holmes did practise 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.
Hither are a couple more than tips, just in case you e'er hit information technology big: Don't trust anyone asking for coin, even if they seem to have a very respectable social status (like the pastor who sued Marie Holmes). Remember the skilful that money can do, but don't forget the bad. No matter what, don't make 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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