Hunting License Fees

[sp_nyp]

Does anyone here recall how much a sportsman or super sportsman license was back around the early nineties... I can't find where I squirreled away all my old licenses and I was curious.

I am debating whether or not to get a lifetime license. At the current prices it will take 14-15 years for it to pay for itself (if I get the sportsman/ml/bow).

I was curious as to how much the license prices have jumped in the last 15 years - maybe get an idea of what I will be looking at in the future.

thanks!

[sp_nyp]

Bad Investment

I just did some math, and it seems that the NYS lifetime hunting license is a poor investment...

If I get the full super sportsman lifetime hunting license it costs ~ 1000. In terms of todays license fees, that pays for itself in 15 years.

However, If I were to put that into a 5% savings and let it compound for 15 years, it would be worth more than double.

Then, say in 15 years licenses cost $100 - I would be only saving $100 a year on my license investment. So, from then until I turn 64 (assuming I live that long), I would save/earn a cool $1700.

However, my original $1000, invested at 5% for those 32 years would be worth almost $4800 by then.

I think I have made my decision.

[Connie Bear Orion]

I seem to think a sportsman and turkey permit 10 years ago was $38.
Think I paid $42, two years ago.

I spent the money and got the Lifetime Sportsman, and bow, last year.

I figured it that after 15 years, I break even, and I plan to hunt and fish alot longer then that.

If regular liceneses go up in price no doubt so will the lifetime.

I figured buy now, its locked in.

I just do not see the State lowering any licensing fees.

[Wldrns]

However, my original $1000, invested at 5% for those 32 years would be worth almost $4800 by then.

I think I have made my decision.

This investment math always makes a lot of sense, but not unless you actually make the investment. Today.
Most people will simply spend the extra cash on something else without really investing it.

[ripple]

but think about this:

Last year I bought my 2 year old granddaughter a lifetime sportsman license , it was $300.00
These are the best investment a parent can buy a child ,they go up at age 4 and so on then become less of a savings

[kburke]

lifetime license was a great investment for me

I bought one about 5 years ago for $500 and it's more than paid itself off, but I also moved out of state so my NYS fees would be much more. The only problem I see in your equation is that I don't think you could find a savings account paying anywhere near 5%. I opened a CD for my son about 8 mos ago and got a little over 4%.

[ken999]

You need to factor out the cost of your yearly tags from your investment scedule...unless you decide to quit hunting for 10 years while your money grows.... ...

I got my lifetime bow/muzzel/sportsman 4-5 years ago and I dont regret the purchase one bit. Paid $960 for them.

[ken999]

oh yeah...factor in the time and money to GO GET your licenses each year...mine are mailed to me every August.

[ALGonquin Bob]

A lifetime license for a child might seem like a good deal, but you have to consider the possibility that the child might have no interest in fishing or hunting when they become old enough to do it. Licenses have been the same price now for at least 3 seasons - still $37 for a NYS Resident Sportsman, $5 for a turkey stamp, or just $19 for fishing. When you pick your DMP zones, make sure the clerk inputs the right numbers, because it's a real pain to change it after they click on it!

[redhawk]

A lifetime license for a child might seem like a good deal, but you have to consider the possibility that the child might have no interest in fishing or hunting when they become old enough to do it. Licenses have been the same price now for at least 3 seasons - still $37 for a NYS Resident Sportsman, $5 for a turkey stamp, or just $19 for fishing. When you pick your DMP zones, make sure the clerk inputs the right numbers, because it's a real pain to change it after they click on it!

I thought about that too. And what if another relative gives them a lifetime membership in PITA. ?

Hawk

[kwc]

I thought about that too. And what if another relative gives them a lifetime membership in PITA. ?

Hawk

It has been noted that YOU can be a PITA, but I think you meant a lifetime membership in PETA.

[Klip59]

I show the lifetime license at $600. Maybe I'm looking at the wrong type. I only fish.
Where can you get a guaranteed 5% on an investment of $600? 4% is probably better.
The math isn't quite as simple as you lay it out. Since licenses run from 10/1-9/30, I'll figure today is 9/30 and you need a new license.
How much is a new license today? $68? Whatever it is, you need to subtract that from the $600 invested because you need to purchase one today. So the actual investment is $532 take a simple 4% add to the 532, $21.28 and then next yr make the payment from $553.28. Assuming the rate stays the same $68, you now have 485.28. Keep doing this and see how many years the money lasts. and that's assuming the rate stays the same, which we know it won't.
There is a simpler way to do it, I just wanted to give you the concept.
I believe it to be a better investment than you think. Depends on your age.

Maybe I'm looking at the wrong DEC licensing fees. Sorry if I am but the concept is the same

Lifetime Resident Sportsman License -- (combined hunting, fishing and big game) License Category Cost
For a child four years of age or younger $300
For a child five through eleven years of age $420
For a person age twelve to 64 $600
For a person age 65 and over $50

[1894]

I think a lifetime license is a great investment for a child. even if he or she decides not to take advantage of it the money does a lot of good. Then at any point in his / her life the opportunity is there , just take the hunter safety course ( I recommend that to non-hunters as well , lots of good info there for everyone ) and then have another reason to get out in the woods and / or on the water.

[chairrock]

It has been noted that YOU can be a PITA, but I think you meant a lifetime membership in PETA.

Now this was funny! I think Hawk might be a member of both! (just kidding Redhawk!)

[sp_nyp]

I am sure I could find 5% without much difficulty. I found 3.5 just now without even looking.

Also, I would not be removing money from the savings account to buy the license. I would be letting it compound. I would just pay for the license with money out of my pocket.

The math works. I have run the calculations... I posted simple descriptions & numbers because I figured most people here were not accountants. If anyone wants a spreadsheet I can draft one up for them

The lifetime I was looking at is:
600 - sportsman
180 - muzzleloading
180 - bowhunting
------
960

Time an cost of getting the license is marginal. I can ride my bike, and it took me all of five minutes to get my license. I will cost me a heck of a lot more for my hunting supplies (ammo/arrows) and to actually get to our camp to hunt!!

WLDRNS hit the nail on the head though. I would actually need to open the account - which I plan on doing, after I do some investment research first.

The only reason I would have bought it was if I thought I was going to be broke in the future and not be able to afford the license. However, if that was the case, I would not be able to afford to travel to hunting grounds and to buy hunting supplies and the like - so that point is moot.

I have thought about getting one for my daughter at $300. I haven't done the math on that one, but my estimated guess is that it would be pretty marginal.