Life Time License

[vikingtom]

Recieved my Life Time License yesterday. Done deal. Plan on buying one 4 grand kids when thier born.

[FL SNIPER]

Good for you.

Sounds like a great present to them. Something they can always say thruout their lives..."My grandfather gave me this right"!

[Bobby Bass]

Friend of mine bought his last year, he thought it was such a good deal he is thinking about doing it again this year !

[hill7410]

It is definately worth it, i bought mine before i turned 16, i got the sportsmans and it will pay off by the time im 30 if the prices stay the same, would recommend it to all.

[blakjack23]

...or you could put the $400 in a savings account that makes 5% interest and make enough each year to pay for your license AND still have your four Benjamins!

[Longline]

Good luck finding a 5% interest rate.

[Norsky]

ING has a 4.8% rate going now, no minimum, rates are increasing, I agree with blakjak23, invest the money and buy each year (hang onto the principle).

[ASMOLEY]

We all know the license are not going to remain the same price there on the rise faster then the 4.8%

[castmaster]

please provide more information on where i can get 5% (or even 4.8%) interest on a savings account with no minimum. i'm not even earning 5% on cd's with high minimums!!!

[nofishfisherman]

I was recently looking into some CD's and found 4.5-5% interest for an 11 month CD with a $5,000 minimum.

[blakjack23]

http://www.ingdirect.com/ocd/

http://www.ingdirect.com/osa_work/

[Bubbadust]

I love ING! They have a whole lot of my money...

[senkoskipper]

finance 101---$1.00 is worth more today than it will be tomorrow. Not saying that your lifetime liscense isnt a good investment but you coulda got more gratification on just buying it yearly and do something else with that extra 370.00.

[Nova]

for what it's worth, part of the reason for these licenses is so the dnr can invest the money and better our resources. Kind of a win-win situation. Besides, who is gonna leave $400 in a savings account for 30 years? Just my $.02, I like the idea and my kids are getting them.

[BLACKJACK]

Yep, anytime you talk to the finance guys they will say 'don't go for the 15 year mortgage, do the 30 year mortgage and then invest the difference (with us)'. But if they're really honest, they'll tell you that if the personal satisfaction of having your house paid off in 15 years is important to you, then go for it. Same way with this lifetime license, just the personal satisfaction of having it bought and paid for the rest of your life is satisfying. And as someone else said, whos realistically going to sock away 400 and just leave it there forever??? I know in my case, the last time I bought a new truck, I started a direct deposit to a saving account for $100 month, thinking that in four years I'd have $4800 plus a trade to put down for a new truck. Well that lasted about a year until I started tapping into that truck account for other stuff.

[vikingtom]

I rather have my license then that 5% rate. I'd spend the $400 anyway. oh ya my license fee was $203. Plan on retirement on a lake fishing while u work and get you're 5%.

[High Velocity]

My son is 3 and I will get him the Sportsman before he's 4. If he ever decides to move out of state he's still set here!!

[vikingtom]

you're right and it's free

[hawkeye43]

I bought a lifetime licenses for both my boys, they will never have to buy one ever. Look at the money they are ahead. I have blown more money then that on stuff. And they have one less reson to take me fishing when I get readly old.

[Down Deep]

I bought my lifetime license 3 years ago for about $200. I figured I'd have to make it to age 61 to get a payback. I didn't consider the time-worth of the money invested less the cost of each license. But now that I've considered that I'll be at least 65 when I get even. Then I plan on being in the black for the next 35 years minimum. LOL

[who are those guy]

The lifetime cost is figured on a 20 year basis. So you B/E in 20 years. This includes time value of money and inflation.

.

Remember your 5% interest is taxed as income. So your $400 getting 5% is really getting 3.5% based on 30% bracket ($14 year). Inflation is averaging 3.1% currently.

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I'll break even in 2019.