Everybody needs coin to survive. It’s a fact we may not similar, but it’south withal a fact. Another inescapable truth is that most of united states could use more than money for the things nosotros need every bit well every bit the things we simply want. That probably makes the hope of winning the lottery sound similar a dream come up truthful, but the reality is much more complicated than that.
Consider this cautionary tale of a woman in desperate need who won an unbelievable amount of money. The choices and mistakes she made later 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 North Carolina. She was a hard-working, unmarried mother of 4 with two depression-paying jobs. On top of this, one of her children had simply been diagnosed with cerebral palsy.
Because of her child’southward special needs, Marie was forced to quit both of her jobs to care for him full time. Plainly, the $188 1000000 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 most what she planned to do with the lottery money — $127 one thousand thousand after she chose to go information technology in a lump sum. “Kickoff I’1000 going to pay my tithes, because I wouldn’t accept none of information technology if it weren’t for God.”
“After that, I’chiliad going to gear up accounts for my kids…I’m going to buy a house for me and my kids, then make sure my family is all skilful.” Marie as well told WGN-Goggle box, “I don’t have to worry near the word ‘struggle’ no more and neither do [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 institution that sold them the ticket pays them their winnings. Nevertheless, 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 period for the money to be awarded, and the winner must fill out some identification paperwork. Last, the winner must determine if they want all the coin in a lump sum or have information technology dispersed in installments for 30 years (on average).
One of the more 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 penalization 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 million much sooner. Fiscal experts commonly 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’s Cut
Many people don’t know how much taxes people have to pay out of lottery winnings in the U.South., so we’ll intermission information technology downwardly for you. Although the entire tax amount wasn’t reported in Marie Holmes’ case, she definitely paid millions to the government.
In the U.Southward., lottery winnings are considered income by the IRS, on both the state and federal levels. Therefore, Northward Carolina would accept taken 5.8% of Marie’south $127 million, and the Federal Government would accept 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 outset to her church and then move out of her mobile home and buy a new house for her children. She also planned to prepare 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 lot, but it can help y’all.” The public vicious in dearest with Marie after hearing about her history of poverty and hard knocks before 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 female parent who, according to her family and friends, “understood the value of a dollar.” At one point, she had ii jobs — Walmart and McDonald’s — to support her four children. Therefore, nobody expected her to brand poor decisions about where the coin would go.
Of grade, no i 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, Please?
When people who aren’t wealthy win a lot of coin, it’s highly recommended that they seek professional help virtually how to manage the coin, including what NOT to exercise with it. The boilerplate American has absolutely no experience treatment large amounts of coin.
Financial advisors warn that even titanic amounts of money can disappear chop-chop if it isn’t invested wisely. In the instance of Marie Holmes, it seemed like her eye was in the right identify and she was doing what she thought was right, but some good communication definitely would have helped her out.
The Bad Judgment Begins
The beginning affair dubbed a poor judgment call by the public was the $xv,000 Rolex that Marie bought her beau, Lamar “Hot Sauce” McDow. The sentry was more jewelry than a timepiece and was reportedly “dripping with diamonds.”
That same swain ultimately cost Marie much more than. The Port Urban center 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 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 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 million, Marie was left with near $88 million afterwards deciding to take her winnings in a lump sum and paying taxes. This is all the same a very large amount of money, merely a loss of $100 million is plainly very significant.
Leeches Coming Out of the Woodwork
Predictably, lots of people immediately started asking Marie and her swain for money after 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 mutual for lottery winners.
Marie and Lamar were constantly harassed for money handouts, and it became very stressful for them. Marie was quoted as proverb, “When money comes, there are more than bug,” according to reports.
Racial Intolerance in Their New Dwelling
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 unit was an intolerant, primarily white customs, and much to the family’s chagrin, the residents were not interested in irresolute.
According to Lamar, “One neighbor fix up a camera to tape everything we were doing. If I was driving down the route and going at the speed limit, they would wave at me for going too fast. They did not want usa 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 get-go 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 Loma 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 office of her life and her religion and that she had been attending that particular church since she was a kid.
Unfortunately, a unlike pastor fabricated contact with Marie and her family unit with an evil ulterior motive. Pastor Kevin Matthews claimed that “God led him to them,” and although they certainly regretted information technology later on, Marie and her family unit believed him and immune him into their lives and their home.
Soon after meeting Marie, Pastor Matthews asked her for $one.v 1000000 and then he could build a retreat. According to him, Marie verbally agreed to fund the project, although at that place is no evidence to support that. He and so went alee and began construction on the retreat using his own money. Marie did not contribute.
Citing a verbal agreement in which Marie allegedly promised to donate $1.v million for his retreat, Pastor Kevin Matthews appear publicly that he was suing Marie Holmes for $10 million. The amount of money named in the suit was inexplainable, considering the corporeality 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 faith. The justification for his lawsuit was that he had a verbal agreement with Marie for a coin donation and compensation for “emotional distress.”
Every bit presently as the media defenseless wind of the lawsuit, they uncovered that Matthews did non announced 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 opinion was clear that this so-chosen “pastor” was naught but a money-grubbing scam creative person preying on a nice lady to become his hands on a lot of undeserved money.
To Top It Off: Adultery
In more bad news for Marie and her children, the media reported that her ex-convict boyfriend was existence unfaithful. Unfortunately, it was also 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 addition 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 oft does.
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 hands by turning to a well-known life coach to become some communication about how to improve her life.
Marie contacted Iyanla Vanzant, who has her own 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 better.
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 really 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 mother why she didn’t merits the money for herself, Fontella replied, “I just wanted you to amend yourself for the babies.”
The Scoop on Lamar McDow
Lamar “Hot Sauce” McDow was fortunate enough to stay in Marie’s adept graces long plenty to fight jail 3 times, to the tune of millions in bail and legal fees. The first time Marie bailed him out, it cost her $3 meg in bail coin.
Before a year had passed, Lamar was arrested again, and Marie bailed him out again for $vi million. The third time Marie bailed out Lamar, it was $12 meg. Y’all would think she would accept been repulsed by his criminal behavior, just she merely kept spending the coin, resulting in widespread criticism.
Misery Loves Company
Marie was warned past many people that if she continued her relationship with Lamar, she could end up with criminal charges herself. Unfortunately, that’s exactly what happened. I 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 Northward Carolina, but there is a significant racial bias about who is criminalized for it, according to the ACLU. The same number of white people as black people apply marijuana, merely blacks are 3.73 times more likely to be arrested.
The Boyfriend Defence
Lamar eventually got aroused at the people criticizing Marie for spending her money 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 practice for each other.”
Lamar went on to say, “She has the money, and she can do 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 run across me locked in jail.”
The Wolf Pit
During the taping of the Iyanla show, the bad headlines just kept rolling in. Marie’s family unit and fifty-fifty former friends started accusing her of really stealing the lottery ticket from her female parent, despite Fontella freely admitting on television receiver 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 seven-year judgement for charges related to possessing and selling heroin. True to form, Marie persisted in pushing forrard and moving on with her life, demonstrating her strength and resilience.
A Goal Met
Despite poor taste in partners, Marie did make some good decisions virtually what to do with some of her money. She ended up giving $ix.7 million to diverse charities. Part of that money went to the make-new Marie Holmes Foundation, which was established to provide for children in demand.
Marie’s foundation provides necessities for underprivileged children. It likewise holds customs events, which are how some children go their school supplies and their Christmas presents. The foundation helps struggling young mothers like Marie was earlier 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 exist 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, but your youth section is doing a RAFFLE! Same affair, pastor. Same Affair!” The stigma remains almost gambling being an irresponsible money-waster. Others contend that there is nothing specific said nearly gambling in the Bible, and then information technology’s okay when it’s non 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 money is where evil originated. He scolded Marie for buying the lottery ticket and went on to say, “Outset, we must guard against our love of money.”
It should be noted that when the Bible does mention “casting lots,” it’southward not commonly talking about textile gain, but nigh God. In an example of this, Proverbs 16:33 states, “The lot is bandage into the lap, but its every decision is from the Lord.”
Some Friendly Communication
Nosotros recommend that others read the unfortunate story of Marie Holmes in example they observe themselves in her shoes. It’southward not at all easy to get from rags to riches, and like versions of her story have 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 always find yourself in the position of receiving a large windfall of money. Be sure to hire a good professional financial expert to help you decide how to manage your money to avoid reckless decisions.
A Cautionary Tale
If you ever happen to discover yourself in the unlikely position of winning the lottery some things to sentry out for include government laws, lottery rules, country 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 get-go doing the math to see what your accept-dwelling house amount really is. Multiple millions of dollars may seem like an enormous corporeality, but every bit Marie discovered, it’south easy to fire through information technology quickly if you are uninformed.
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 decision-making. A few call back the truth lies somewhere in the eye of those 2 blackness-and-white judgments.
Aside from spending millions on her boyfriend — who eventually ended upwardly in federal prison house anyway — Marie also made some other questionable decisions later winning the lotto, such as buying her boyfriend a business of his own and buying her mother a house. She as well had harassment charges filed against her for allegedly calling a woman repeatedly to threaten her.
The Lesser Line
The ending of this story is by and large grim, although Marie Holmes did practise some positive things with a lasting affect before the concluding of her money was gone. She didn’t seem to realize that she would exist under a microscope with the media and the public.
Hither are a couple more tips, just in instance you ever striking it big: Don’t trust anyone asking for money, even if they seem to accept a very respectable social status (like the pastor who sued Marie Holmes). Remember the expert that money tin can do, merely don’t forget the bad. No matter what, don’t brand bold promises immediately after winning.