Finances for addicts

Elkangle

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Jun 16, 2016
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916
These threads with guys chasing there dreams is awesome, pretty cool to see guys with some guts go out and do it

But incase your not digging the risks there is another way..while finances are a touchie subject, I think if anyone is considering these hunts it's kinda par for the course.

Either way heres a simple chart showing 200 a week into a simple index with 4% returns and how much you can with drawl and still keep climbing..obviously depending your age and income you can tweak it

That's a 10k towards a trip on year 4
20k towards a trip on year 7
30k towards a trip on year 10
And then you can pretty much do 30k trips every 2-3 years after that pluss some

If you have the time, this would be a pretty decent way to live a heck of a life if you can carve out the weekly $
 

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bascott1

WKR
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Dec 8, 2018
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398
Kinda what I’m doing now. Couple hundred dollars a month into a mutual fund to hopefully fund my hunting addiction down the road.

Main question is what will these hunts cost in 20 years from now??
 

30338

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Joined
Jun 2, 2013
Messages
1,909
Vanguard Total Stock Market Index for the life of the fund which started 11/2000 is 8.25% a year. For the last 10 years its 12.27% a year. Compounding interest is very powerful but requires discipline and patience. Hunt a lot of stuff along the way and this is indeed a way of paying for a dream hunt or two down the road. 'Or paying off a house, or paying for kid's college, or retiring with strong income.

I started this when I started my career in 1988. It works. It was different funds back then but still stock funds.
 

camp_86

FNG
Joined
Dec 22, 2021
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10
Location
Illinois
Those expensive hunts always seem out of reach until you crunch the numbers. Even if you only are able to put back a small amount it will pay off in the long run.

Lets just hope hunt pricing doesn't continue to skyrocket.
 

BravoNovember

Lil-Rokslider
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Jan 26, 2021
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Wisconsin
I’ve been thinking hard about this. We have multiple investment, but looking to set on up specific for hunting, fishing and family vacations.
 
Joined
Sep 30, 2017
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I really need to look into this more instead of just putting 200 into a separate savings account


Sent from my iPhone using Tapatalk
 

30338

WKR
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Jun 2, 2013
Messages
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Look at Fidelity or Vanguard for a stock fund with low initial investment. Then do monthly deposits. Its really easy to get going. Money markets are paying 5.3% now but the Total Stock Market Index fund is still beating most funds at the before mentioned 12.7% annual rate the last 10 years.
 

IDVortex

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Jan 16, 2024
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CDA Idaho
A moron who doesn't understand these things completely. A couple of Q's

1. Can I myself start these funds, or do I have to find a investor and they do it?

2. Are there penalties for pulling out in a certain time frame, and is there a cap on how much you can invest each month or yearly?

Lastly, is there a calculator that one can see the growth of the investment over time if you give it a generic percentage for return?
 

TxLite

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Sep 6, 2018
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Texas
5000 is the starting balance

800 dollars a month is a substantial hunting investment
To be fair this doesn’t have to be strictly a hunting account. You can just do this with a standard investment account. We’ve used ours for vacations etc
 

CorbLand

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Mar 16, 2016
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7,033
A moron who doesn't understand these things completely. A couple of Q's

1. Can I myself start these funds, or do I have to find a investor and they do it?

2. Are there penalties for pulling out in a certain time frame, and is there a cap on how much you can invest each month or yearly?

Lastly, is there a calculator that one can see the growth of the investment over time if you give it a generic percentage for return?
You can start one yourself.

The only penalties is cap gains tax.

Yes, google has tons of calculators.

This is not to start an argument nor am I the authority in any way shape or form but if you are looking at starting to invest and prepare for your future. You really should read 4 books.

Rich Dad Poor Dad
The Total Money Makeover
The Automatic Millionaire (At least read this one, if none of the others)
The Richest Man in Babylon (Read this one first)

Decide which model fits your risk tolerance and make it happen.
 
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IDVortex

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Jan 16, 2024
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Location
CDA Idaho
You can start one yourself.

The only penalties is cap gains tax.

Yes, google has tons of calculators.

This is not to start an argument nor am I the authority in any way shape or form but if you are looking at starting to invest and prepare for your future. You really should read 4 books.

Rich Dad Poor Dad
The Total Money Makeover
The Automatic Millionaire (At least read this one, if none of the others)
The Richest Man in Babylon (Read this one first)

Decide which model fits your risk tolerance and make it happen.
Have read the 1st 2 books, really good books.
 

BravoNovember

Lil-Rokslider
Joined
Jan 26, 2021
Messages
224
Location
Wisconsin
A moron who doesn't understand these things completely. A couple of Q's

1. Can I myself start these funds, or do I have to find a investor and they do it?

2. Are there penalties for pulling out in a certain time frame, and is there a cap on how much you can invest each month or yearly?

Lastly, is there a calculator that one can see the growth of the investment over time if you give it a generic percentage for return?
We use vanguard as a brokerage account. Very easy to use and set up automatic investments. VTSAX is our main investment, it’s performance is good throughout history and it’s expense ratio is cheap.
 
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Elkangle

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Jun 16, 2016
Messages
916
20% of whatever the average home value will be at the time seems like the best way to project it 😂

It's impossible to know, I think sheep will hit a ceiling myself... I will prolly only buy 1 sheep hunt and then focus on other things
 
OP
E

Elkangle

WKR
Joined
Jun 16, 2016
Messages
916
Another really fun chart to build is do 200 a week for the 1st year, then do 300 a week for the next 4 years, then do a 30k hunt every 3 years for the rest of your life

Roughly with 300 a week it's basically a race to get to 90-100k and then your home free

300 week is hard to carve out but if you start breaking up your cost by the week and start shaving pluss maybe weekend work it's do able !

For me

Stop drinking
No new cars
Packing lunches

Pretty much pays for it
 

30338

WKR
Joined
Jun 2, 2013
Messages
1,909
A moron who doesn't understand these things completely. A couple of Q's

1. Can I myself start these funds, or do I have to find a investor and they do it?

2. Are there penalties for pulling out in a certain time frame, and is there a cap on how much you can invest each month or yearly?

Lastly, is there a calculator that one can see the growth of the investment over time if you give it a generic percentage for return?
Go to vanguard.com or fidelity.com. You can set them up easily. Do it yourself and just buy the total stock market index fund.

No penalties if you withdraw. You can withdraw anytime you like and have your money within a day or two. You will pay capital gains taxes or accumulate losses depending on how you did.

You can fund non-retirement funds(which these would be non-retirement) with as much money as you want. No limit.

Simply google savings calculator and plug your inputs into 1 of thousands.

For retirement planning, honestmath.com has the best calculator I have seen. Its free.
 
Joined
Nov 3, 2017
Messages
1,499
Location
AK
Another really fun chart to build is do 200 a week for the 1st year, then do 300 a week for the next 4 years, then do a 30k hunt every 3 years for the rest of your life

Roughly with 300 a week it's basically a race to get to 90-100k and then your home free

300 week is hard to carve out but if you start breaking up your cost by the week and start shaving pluss maybe weekend work it's do able !

For me

Stop drinking
No new cars
Packing lunches

Pretty much pays for it
Another way that works for my household is every time we get a raise or bonus, 50% of it goes towards investments. We set it up automatic before we even see that first paycheck with the new amount. Lifestyle creep kills people. Seems like most get a $20k raise and it’s all gone immediately to two new car payments. Practicing a little contentment goes a LONG ways.
 

CorbLand

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Joined
Mar 16, 2016
Messages
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Another way that works for my household is every time we get a raise or bonus, 50% of it goes towards investments. We set it up automatic before we even see that first paycheck with the new amount. Lifestyle creep kills people. Seems like most get a $20k raise and it’s all gone immediately to two new car payments. Practicing a little contentment goes a LONG ways.
We do something similar, we invest a percentage of our income so when we get raises, investments increase as well but we get a little extra to spend as well. Has worked for us. Work gives me a percentage of my salary into a 401K every month so any raise automatically increases that. Then everything on the side that I do also increases.

We also agreed that any tax refunds we get will either be used as an extra payment on the mortgage or used for needed repairs/upgrades on the house. Which has worked well because we always owe taxes.
 
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