Minn Lifetime Licenses

[cisco]

There was an item on the news tonight about lifetime hunting and fishing licenses in Minnesota. Does anyone know the scoop on these? For instance, what happens if some guy moves out of state? He becomes a non-resident, obviously, but does the move nullify a "lifetime" license?

At my age I don't buy lifetime anythings, but I'm curious.

[BradB]

For facts on the matter check out:

http://www.dnr.state.mn.us/license_bureau/licenses.html. Open the .pdf for the "fact sheet".

They are valid even if you move out of state. I'm going down to the DNR central office Thursday morning and buying one.

Brad

[Pitts]

I'm not an investment guru but if you take the $$ that you put into the lifetime license and put it in a mutual fund you will more than pay for your license each year from the earnings.
I know the price will go up on the licenses over the years and the market is at a low right now but for 2 kids and an adult I'm looking at 1300$$, WOW!! I'd have to use mine until i'm 57 to pay for it at the current prices. It does not seem that good of a deal at this time but if you really like to support your state conservation program maybe it is for you. I don't no if I will but I will have to make up my mind soon because my oldest is 14.

It's not very convenient at this time to get them but that should change.

Go with you idea on them and check them out close.

Pitts

[GullGuide]

OK, this is what I figured out...
I'm 31 now....I continue to buy a Lic every year at TODAYS price of $18, until I turn 65...Then, planning on fishing till 85 (hopefully or longer) and then paying $6.50 at TODAYS prices.
34 years at $18= $612
20 years at $6.50= $130
Total= $742
Price of lifetime angling Lic= $383
Savings= $359 not including fee increases and inflation

Sounds like a deal to me!!
GullGuide
>"////=<

[Lund_Dude]

If you calculate the equivalent annual return for your scenario, you get less than 3%. So, if you can get 3% or better return on your money, you would be better off putting the principal in the investment and drawing out your annual fee. Just an FYI...

[JKJ]

Kinda getting off the subject.... but, if you plan to fish in Mn after today, you will need a new 2001 license. Totally slipped my mind till I looked at the calendar. Like they say. "Don't leave home without it!"

Same goes for portable ice shelter licenses too.

[Grey Wolf]

Honestly ow, if any of us were interested in return on investment, would of of us spend the hundreds of dollars each year on boats, motors, fishing tackle etc. Think about that 5 dollar crankbait that you purchased and lost in the first hour of owning it. What kind of return on investment was that. If you need to think in terms of return on investment, think about your time, what is that worth. Take the 30-40 times over the course of the years that you need to run down to the local store/baitshop and purchase a fising license. Time is money. Today is Feb 28th and we were nailing the fish at the river yesterday, going again tomorrow, oh ##### I need to go buy a new license. The lifetime license is definately for me.

[Goldpig]

You will still need to go and get a license each year or stamps if necessary so you will not be saving all of those trips to the store. They are doing this to keep updates information, accurate yearly license counts, and to pass on reg. books.

[BradB]

My understanding is that you will be able to renew your lifetime license each year by phone. That would save the trip to the store.

Brad

[Goldpig]

Your right! You can also get them by phone now. They do charge you a transaction fee though.

[Fin Addict]

If you plan to move out of state soon, buy one. If not put your
$383 into just about any investment (if we really wanted to overcomplicate this) you draw it down as an annuity for the rest of your life and be able to buy the license as well a couple cranks every year and still have money to spare. Looks like another way for the state to get and use more of our money to me. Rational justifications would be that you plan to move out of state and this license remains valid, license fees go up dramatically in the future, you hate the hassle of remembering to buy a license every year.

[Lund_Dude]

GW:

I know that there is little ROI in fishing. I was just trying to shine some light on the argument that this new license was a good value.

[Randy]

Not true. The rate of return is better than anything. Think of the countless hours spent with friends and family. Seeing your kid catch his first fish is priceless and worth every penny a hundred times more than I spend a year. Rate of return is not always dollars and cents.

[GullGuide]

All this economics talk is driving me nuts!!!
Like the board says...."Shut up and fish!!"
:)
>"////=<

[Chad]

Dont forget-This is an investment into natural resources. You are basically making a donation into an endowment for the DNR from which they will use the interest to operate from. Lifemembers usually are people who want to make an investment. They are not doing it to save money.

[cisco]

But there's no open season where I am on the critters I like to fish for.

[SUPERTROLLER]

Just go fishing for "perch",,, wink,wink. You can't help it if the dang walleye's keep hitting your offering. Just have to catch and release everything.