Taking Equity out of Home to Go on Guided Hunts

[Bigred323]

Post up some pics of your hunt!

 

[wildwilderness]

Seems as if Bill Perkins thought this through pretty carefully and came up with a good plan. But what happens if your plan falls through and you hit zero long before you die?

Based on your comment it doesn’t seem like you read the book?

It addresses your exact question (fear).

(It probably doesn’t apply to low income earners that well, but realistically they aren’t considering a Grand Slam of sheep anyway)

 

[SDHNTR]

The Die With Zero notion is fine IF you have a plan and know exactly what your annual spending allowance is, with a very safe assumption of life expectancy. The fault of that notion, however, lies in the fact that very few people have actually formalized a financial plan and know these numbers. Instead, they wing it.

 

[BCDJR]

Even if you raise the money there is no guarantee you will kill a sheep on those four hunts. Think about that!

 

[keller]

So many negative comments. Let the man live his dream. And let the ney sayer wish he would have. Nothing in this life is promised

 

[SDHNTR]

So many negative comments. Let the man live his dream. And let the ney sayer wish he would have. Nothing in this life is promised

Just a hypothetical question… I’m not saying this applies to the OP.

With your mentality as stated here, are you OK with paying additional taxes to support additional Gov entitlement programs? Hey, as long as the guy enjoyed life, right? Who cares if he spent down all those assets and is now on Medicaid, bet it was a fun ride!

Because, if you’re paying attention, that is the reality we are faced with now as 10,000+ Boomers retire every day. Most without enough savings. The rest of us will have to pay for it.

Not ripping on the OP, but this general sentiment has society in trouble.

 

[Loco4dux]

OP should start a new thread just for the hunts so we can follow along without all this financial BS comments.

 

[cbeard64]

OP should start a new thread just for the hunts so we can follow along without all this financial BS comments.

And now (as always these days) politics has entered the chat.

 

[schmalzy]

Just a hypothetical question… I’m not saying this applies to the OP.

With your mentality as stated here, are you OK with paying additional taxes to support additional Gov entitlement programs? Hey, as long as the guy enjoyed life, right? Who cares if he spent down all those assets and is now on Medicaid, bet it was a fun ride!

Because, if you’re paying attention, that is the reality we are faced with now as 10,000+ Boomers retire every day. Most without enough savings. The rest of us will have to pay for it.

Not ripping on the OP, but this general sentiment has society in trouble.

I realize you said this doesn’t apply to the OP, but can you or anyone on Rokslide point to a real life scenario or instance where you personally know someone that is now dependent on government assistance due to financing a hunt utilizing equity they had in a paid off 7 figure asset?

The general sentiment that has society in trouble is making polarizing assumptions about other people.


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[Diamondback]

The OP is living his dream! That is more than some will ever do in life.
Best of Luck to him on his adventure!

 

[SDHNTR]

I realize you said this doesn’t apply to the OP, but can you or anyone on Rokslide point to a real life scenario or instance where you personally know someone that is now dependent on government assistance due to financing a hunt utilizing equity they had in a paid off 7 figure asset?

The general sentiment that has society in trouble is making polarizing assumptions about other people.


Sent from my iPhone using Tapatalk

Not from spending on hunts specifically, but professionally I have seen millions spent frivolously many times leaving people flat broke. Boats, cars, travel, luxury items, etc. sheep hunts are no different.

 

[TheGrayRider]

Not from spending on hunts specifically, but professionally I have seen millions spent frivolously many times leaving people flat broke. Boats, cars, travel, luxury items, etc. sheep hunts are no different.

“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.” – Norm Franz

 

[cbeard64]

Not from spending on hunts specifically, but professionally I have seen millions spent frivolously many times leaving people flat broke. Boats, cars, travel, luxury items, etc. sheep hunts are no different.

61 year old trial attorney here. In my professional and social life I have had occasion to see this myself. Many times. Fortunes won, fortunes lost. But I have never, ever, not one time seen those who have lost fortunes ever become dependent on government assistance. They may change their lifestyles completely, take lower-paying jobs, and many even stage a comeback. But I have yet to meet a former wealthy person become dependent on taxpayer money. Maybe your experience is different than mine.

Lots of millionaires evade paying taxes, take advantage of loopholes to avoid taxes, and outright defraud the government by hiding income. Most of those same folks congratulate themselves on their “ingenuity” in one breath while complaining about government assistance programs in another breath. That I have seen. Many times.

 

[mtwarden]

"Oh yeah, is this where I apply for Medicaid? I foolishly spent money on a 60' yacht and an African safari and found out I really can't afford it."

 

[SDHNTR]

61 year old trial attorney here. In my professional and social life I have had occasion to see this myself. Many times. Fortunes won, fortunes lost. But I have never, ever, not one time seen those who have lost fortunes ever become dependent on government assistance. They may change their lifestyles completely, take lower-paying jobs, and many even stage a comeback. But I have yet to meet a former wealthy person become dependent on taxpayer money. Maybe your experience is different than mine.

Lots of millionaires evade paying taxes, take advantage of loopholes to avoid taxes, and outright defraud the government by hiding income. Most of those same folks congratulate themselves on their “ingenuity” in one breath while complaining about government assistance programs in another breath. That I have seen. Many times.

Yes, I’ve seen plenty of that too!

But also plenty of what I formerly explained. Almost always with inherited wealth. And bear in mind that I said Gov entitlement too, not just Gov assistance. If all you’ve got left to live on is Social Security, something went wrong along the way!

 

[cbeard64]

Yes, I’ve seen plenty of that too!

But also plenty of what I formerly explained. Almost always with inherited wealth. And bear in mind that I said Gov entitlement too, not just Gov assistance. If all you’ve got left to live on is Social Security, something went wrong along the way!

You may think I’m nuts but our plan is to spend the next 15 years enjoying our savings and then live on our retirement (wife is retired teacher) and my SS starting at about age 75. Not that we won’t have assets left but we plan to leave those to our kids/grandkids. I have all 4 sheep and have gone on many adventure hunts but have gone on my last one unless I draw a tag in the lower 48. It’s deer hunting on our farm and DIY hunts out west from now on. I’m fine with that.

We were both raised in frugal households, will have enjoyed our lives with many adventures and a nice lifestyle, and at 75 plan to settle comfortably into a life of friends, family, reading, and car travel.

 

[2531usmc]

Yes, I’ve seen plenty of that too!

But also plenty of what I formerly explained. Almost always with inherited wealth. And bear in mind that I said Gov entitlement too, not just Gov assistance. If all you’ve got left to live on is Social Security, something went wrong along the way!

I dunno, but I’ve hunted and fished Africa
and much of North America. And I’ve also been flat ass broke a couple of times. All the hunting memories in the world would not be worth taking even an exceedingly small risk of becoming flat ass broke again