Do Parties Who Win the Presidency Have to Put the President Up as Their Candidate Again
Everybody needs money to survive. It'south a fact we may not similar, but it'southward still a fact. Another inescapable truth is that most of u.s.a. could utilize more coin 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, simply the reality is much more complicated than that.
Consider this cautionary tale of a adult female in desperate need who won an unbelievable corporeality 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 money doesn't buy happiness.
Run into Marie Holmes
When she was 26, Marie Holmes was living a hard life in North Carolina. She was a hard-working, single mother of four with two low-paying jobs. On pinnacle of this, one of her children had only been diagnosed with cerebral palsy.
Considering of her child'due south special needs, Marie was forced to quit both of her jobs to care for him full fourth dimension. Obviously, the $188 1000000 lottery windfall seemed like a Godsend when Marie won, but unfortunately, she made a serial of poor decisions that resulted in her losing it all.
Marie'due south Original Plans
Marie made some promising comments near what she planned to do with the lottery money — $127 million after she chose to become it in a lump sum. "Starting time I'm going to pay my tithes, because I wouldn't have none of it if it weren't for God."
"Later that, I'm going to ready up accounts for my kids…I'g going to purchase a house for me and my kids, then make certain my family is all good." Marie likewise told WGN-Tv set, "I don't have to worry about the word 'struggle' no more and neither do [my children]."
The Waiting Game
Although nearly 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 institution that sold them the ticket pays them their winnings. Withal, there is a lengthy process involved in challenge large lottery winnings.
The ticket has to be verified by a scanning car. Next, there is a waiting period for the money to be awarded, and the winner must fill 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 thirty 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 big penalty for getting all the money faster in a lump sum.
Marie had the option of collecting the entire $188 one thousand thousand over xxx years or forfeiting $61 million 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 make 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., then we'll break it down for you. Although the entire tax corporeality wasn't reported in Marie Holmes' instance, 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, North Carolina would have taken five.8% of Marie's $127 million, and the Federal Government would have taken anywhere from 25% to 39.6%, depending on revenue enhancement bracket 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 first to her church and so movement out of her mobile habitation and buy a new house for her children. She also planned to ready 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 understand that money doesn't change you, but it tin help you lot." The public fell in dearest with Marie afterward hearing well-nigh 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, unmarried mother who, according to her family and friends, "understood the value of a dollar." At i point, she had 2 jobs — Walmart and McDonald's — to support her iv children. Therefore, nobody expected her to brand poor decisions about where the money would get.
Of grade, no one took into account that Marie was inexperienced and uninformed nearly how to handle large amounts of money. When she started deciding how to spend the lottery coin, the public viewed her equally 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 about how to manage the coin, including what Non to exercise with it. The average American has absolutely no experience handling large amounts of money.
Financial advisors warn that even titanic amounts of money tin disappear rapidly if it isn't invested wisely. In the case of Marie Holmes, it seemed similar her heart was in the correct place and she was doing what she thought was right, but some good advice definitely would accept helped her out.
The Bad Judgment Begins
The first thing dubbed a poor judgment phone call by the public was the $fifteen,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 City Daily reported Lamar was a gang member and a drug dealer later on 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 bond and defense.
The Saga Continues
Before 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 home that she had purchased after winning the lottery.
According to the Daily Postal service, of the original amount of $188 1000000, Marie was left with almost $88 million afterwards deciding to take her winnings in a lump sum and paying taxes. This is still a very large amount of coin, but a loss of $100 million is obviously very pregnant.
Leeches Coming Out of the Woodwork
Predictably, lots of people immediately started asking Marie and her boyfriend for coin subsequently 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 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 than problems," according to reports.
Racial Intolerance in Their New Home
Another problem that plagued Marie and her family in their new life in their new domicile was harassment from neighbors due to racial prejudice. The neighborhood that Marie moved into with her family unit was an intolerant, primarily white community, and much to the family's chagrin, the residents were non interested in changing.
According to Lamar, "One neighbour set up a 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 too fast. They did not want us there. They were prejudiced." Lamar reported these disturbing events to the Daily Mail.
The Church Donation
Marie stayed true to her word, which was reported in a press release equally "The first 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 building 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 unit believed him and allowed him into their lives and their home.
Soon after meeting Marie, Pastor Matthews asked her for $1.five meg so he could build a retreat. Co-ordinate to him, Marie verbally agreed to fund the projection, although there is no show 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 verbal understanding in which Marie allegedly promised to donate $ane.5 million for his retreat, Pastor Kevin Matthews announced publicly that he was suing Marie Holmes for $x million. The amount of coin named in the accommodate was baffling, because the corporeality he was allegedly promised was much less.
The public believed Pastor Matthews was existence ungrateful and greedy. His behavior seemed unbecoming of a Christian leader to nigh 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
Every bit before long as the media caught wind of the lawsuit, they uncovered that Matthews did non appear to exist 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 lot Pastor Kevin Matthews." Public stance was clear that this so-called "pastor" was nil merely a money-grubbing scam artist preying on a squeamish lady to get his hands on a lot of undeserved money.
To Pinnacle It Off: Infidelity
In more bad news for Marie and her children, the media reported that her ex-captive swain was existence unfaithful. Unfortunately, it was too reported that she herself paid Lamar'southward mistresses hush money 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 add-on 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 oftentimes does.
Powering Through
Instead of withering under the scrutiny of the media and the public, Marie decided to take drastic measures to meliorate her circumstances. She gathered her strength and took matters into her own hands by turning to a well-known life jitney to go some advice about how to improve her life.
Marie contacted Iyanla Vanzant, who has her own prove advising people virtually 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 another surprising twist, when Marie went on the Iyanla: Set up My Life talk testify, 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 pregnant.
"I kept dreaming about your blood brother that nosotros lost. His birthday, he was the third child, he'd take been 25 that yr. Those were the numbers." When Marie asked her mother why she didn't claim the money for herself, Fontella replied, "I just wanted y'all 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 three times, to the tune of millions in bail and legal fees. The beginning time Marie bailed him out, information technology cost her $3 meg in bond money.
Before a year had passed, Lamar was arrested once again, and Marie bailed him out again for $6 one thousand thousand. The third time Marie bailed out Lamar, it was $12 million. You would call up she would accept been repulsed by his criminal behavior, just she only kept spending the money, resulting in widespread criticism.
Misery Loves Visitor
Marie was warned by many people that if she continued her relationship with Lamar, she could stop upward with criminal charges herself. Unfortunately, that's exactly what happened. 1 night, Lamar violated his parole curfew. When the law came, they discovered marijuana in the house.
Tragically, Marie was arrested for possession in forepart of her children. Marijuana remains illegal in North Carolina, but there is a pregnant racial bias about who is criminalized for it, according to the ACLU. The same number of white people as black people use marijuana, but blacks are iii.73 times more likely to be arrested.
The Boyfriend 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, "We are a couple, and I am the father of her youngest child. This is what people exercise for each other."
Lamar went on to say, "She has the money, and she can practise what she wants with information technology. If I had that money, 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 prove, the bad headlines just kept rolling in. Marie's family and even old friends started accusing her of really 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 fourth dimension on a 7-yr 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 strength and resilience.
A Goal Met
Despite poor taste in partners, Marie did make some skillful decisions about what to do with some of her money. She ended upwards 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 as well holds community events, which are how some children get their school supplies and their Christmas presents. The foundation helps struggling young mothers like Marie was before she won the lottery.
Do Christians Hazard?
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 building. 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 section is doing a RAFFLE! Same thing, pastor. SAME THING!" The stigma remains most gambling being an irresponsible money-waster. Others argue that there is nil specific said about gambling in the Bible, and then it'south okay when it's not abused.
The Root of All Evil
Other religious people, such as 1 pastor cited in the Christian Post, pointed out that the Bible says that coin is where evil originated. He scolded Marie for ownership the lottery ticket and went on to say, "Commencement, we must baby-sit against our love of money."
It should be noted that when the Bible does mention "casting lots," it'due south not usually talking nigh textile proceeds, but well-nigh God. In an example of this, Proverbs sixteen:33 states, "The lot is bandage into the lap, but its every decision is from the Lord."
Some Friendly Advice
We recommend that others read the unfortunate story of Marie Holmes in example they notice themselves in her shoes. It's not at all easy to go from rags to riches, and similar versions of her story accept happened to others.
It's important to empathize 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 big windfall of money. Exist sure to rent a good professional financial skilful to help you decide how to manage your money to avert reckless decisions.
A Cautionary Tale
If you ever happen to find yourself in the unlikely position of winning the lottery some things to watch out for include authorities laws, lottery rules, state and federal taxes and your previous unpaid debts. These things can assistance you summate your expendable income.
It may exist 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 equally Marie discovered, it's easy to burn through it quickly if you lot are uninformed.
Further Drama
Some recall 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 blackness-and-white judgments.
Aside from spending millions on her boyfriend — who eventually ended up in federal prison house anyway — Marie also fabricated another questionable decisions after winning the lotto, such equally ownership her boyfriend a business of his own and buying her mother a house. She also had harassment charges filed confronting her for allegedly calling a adult female repeatedly to threaten her.
The Lesser Line
The ending of this story is more often than not 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 under a microscope with the media and the public.
Here are a couple more tips, just in instance you ever hit it 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). Think the good that money can exercise, just 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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