eOmahaForum Skyscraper

[OmahaOmaha]

Why don't all of us on the forums get together and buy a powerball ticket. The next drawing is estimated at 675 million. If we win, we can build a really tall skyscraper downtown. We can get the city to buy the land we need, we can put ground floor retail in, and the rest of the building can just be an empty shell that lights up at night, that way we can get more height for the money. Or, we could build two or three smaller towers so we have more density in our skyline.

[nebraska]

Everyone who buys in will get to pick one:

• penthouse (dibs, I call this one)
• naming rights
• head of the design committee
• head of the retail selection committee
• guy who gets to cut the red ribbon
• city block/tower placement committee
• free coffee for life at 1st floor coffee shop
• CEO of eOmahaForums.com Tower Development Committee Association Organization, INC

[nebraska]

After taxes on the cashout option, $1.3 billion comes to maybe $430,000,000 in the bank. That would make us a fine tower indeed.

[PotatoeEatsFish]

After taxes on the cashout option, $1.3 billion comes to maybe $430,000,000 in the bank. That would make us a fine tower indeed.

That would be a giant skyscraper

[OmahaOmaha]

If this jackpot keeps growing, we could also build the eOmahaForum Amusement Park.

[S33]

Anyone who takes the lump-sum in a powerball drawing ever, is a complete moron.

You're giving so much away... the jackpot at 1.4 million ish, would allow you an annual income of 22 million (ish), which is more money than any reasonable person should spend in 12 months time.

"But what if I want to purchase a small country?"

Well, suddenly, because of your 1.4 billion dollar powerball endowment, banks are throwing themselves all over you like a Vegas hooker, and you can finance just about whatever you want, and interest rates are low.

So build the skyscraper, but make someone else pay for it.

People wonder how the rich keep getting richer, as if it's some sort corrupt, money making scheme, when in reality, all it is is upward financial inertia.

[S33]

And while I'm ranting off topic like an unmedicated dementia patient, I'd also point out that the only reason why the jackpot is as high as it is, is because the jackasses who run powerball, substantially decreased your odds of winning by Increasing the number range in the white balls.

They are also allowing other countries to participate in these drawings now, starting with Australia, so the likelihood of having to split the jackpot with one or more people, substantially increased.

So the odds went way down, from somehwee around 1:100 million to something like 1:290 million, and the odds of splitting the jackpots are going up.

[Dundeemaha]

The lump sum is by far better, the annuity is a terrible rate of return.

[Coyote]

The lump sum is by far better, the annuity is a terrible rate of return.

I also believe that my Fund Manager could develop a much better return plan on a lump sum...

[S33]

The lump sum is by far better, the annuity is a terrible rate of return.

For your typical factory worker or minimum wage slacker who always seem to win the jackpots, taking the annuity is an excellent financial plan.

For a jackpot that size, one isn't concerned with a rate of return, as much as they are concerned with the guaranteed return.

If the jackpot were 10-20 million, sure, I could see how a person would get a bit more aggressive.

[Dundeemaha]

Most winners end up bankrupt, in jail, or meet an early demise. The real value of the annuity is protecting you from yourself but if the winner can manage that aspect they should take the lump sum for 2 reasons:

1. The annuity from the Powerball is basically ulta-safe government bonds - % management fee to Powerball for managing your money. Solution for people who want to be ultra safe is just use a similar spread of US Treasury bonds, other G7 bonds, S&P Index fund or other broad spectrum passive funds
2. If you die the IRS will try to collect estate taxes on the full value of the remaining annuity payments immediately. Which means A) your heirs are screwed because you don't have that much cash on hand. B) Your heirs are able to cash out the annuity and some of them are likely screwed by mismanaging 10s to 100s of millions of dollars (See most winners go bankrupt).

[nebraska]

Most winners end up bankrupt, in jail, or meet an early demise. The real value of the annuity is protecting you from yourself but if the winner can manage that aspect they should take the lump sum for 2 reasons:

1. The annuity from the Powerball is basically ulta-safe government bonds - % management fee to Powerball for managing your money. Solution for people who want to be ultra safe is just use a similar spread of US Treasury bonds, other G7 bonds, S&P Index fund or other broad spectrum passive funds
2. If you die the IRS will try to collect estate taxes on the full value of the remaining annuity payments immediately. Which means A) your heirs are screwed because you don't have that much cash on hand. B) Your heirs are able to cash out the annuity and some of them are likely screwed by mismanaging 10s to 100s of millions of dollars (See most winners go bankrupt).

Agree with the lump sum. Spread it into savings/bonds/investments/properties and whatever. Unless you plan to make money off your money, then who cares about the rate of return. Go all out and spend it, making sure you have enough to last forever.

Each of the 3 winners from the mega-payout will see about $150 million after taxes. Even at 1% in a savings account, that's $1.5 million in spending cash annually.