Upgraded to Lifetime HCP.

[maroonandwhite]

I’ve been putting of my lifetime upgrade due to the lack of an online upgrade option. I discovered today that is no longer the case so I dropped the $200. I’m wondering if the state is slick enough to raise the prices within a year or two in response to the obviously growing demand. Seems like a sure fire way to increase income.

[GlockSpock]

I renewed mine in December 2020. $50 for another eight years. I decided to just do that. Even though I'm only 30 now, fronting an additional $150 for "lifetime" didn't make sense to me. I figured in essence, $150 for me will get another 24 years on top of what I just renewed, as I had to spend the $50.00 anyways. So the question to me was the opportunity cost of the additional $150.00.

I argued internally that who knows what the firearms landscape will look like in another four years...much less 24 to 32 years. 32 years from now, feel free to come back and prove me wrong.

That said, the convenience factor almost made me do the lifetime. But then I quickly realized that you could put $150.00 in essentially any SP500 ETF and end up with...$968.01 after 32  years assuming 6% growth. And if the stock market is bad 32 years from now...I'm not sure your HCP will be worth much of anything either.

[GlockSpock]

Of course, legislature changes could quickly and easily change all of this. If you "grandfather in" at $200.00 and then my costs go up to $100.00 annually because of changes, then you win.

[maroonandwhite]

19 minutes ago, GlockSpock said:

Of course, legislature changes could quickly and easily change all of this. If you "grandfather in" at $200.00 and then my costs go up to $100.00 annually because of changes, then you win.

That’s pretty much my motivation. If the government decides my HCP doesn’t matter anymore then I don’t think it’ll matter if it’s lifetime or a term period.  I do foresee the costs rising. I’m just trying to spend a buck time save a buck I guess. 

[eRay]

19 minutes ago, GlockSpock said:

Of course, legislature changes could quickly and easily change all of this. If you "grandfather in" at $200.00 and then my costs go up to $100.00 annually because of changes, then you win.

Or worse yet, some new administration could do away with handgun permitting and implement a rule that as all permits expire none of them will be renewed.

[peejman]

2 hours ago, maroonandwhite said:

That’s pretty much my motivation. If the government decides my HCP doesn’t matter anymore then I don’t think it’ll matter if it’s lifetime or a term period.  I do foresee the costs rising. I’m just trying to spend a buck time save a buck I guess. 

Same here. I couldn't justify it strictly on a financial basis, but it does protect against future cost increases and its one less thing i have to mess with.