If you want to captain on commercial boats or just earn some money with your own boat or a sailing school, you'll need a license. If you just want bragging rights, it's useless. I used mine for many years to earn income while cruising in the Caribbean, but once back in the states I let it go for lack of use, and mostly because of all the new costs involved. Oh,... and because at 70 I didn't see myself wanting to take out any more lubbers who screamed in fear if the boat 'tilted'.