At what net worth did you buy your first 10k+ watch? I just passed the 500k net worth mark and still feel like it’s a terrible financial decision

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For the love of god - it’s not a “financial” decision. It’s just spending money. You don’t buy luxury things bc they are investment or anything like that. It’s a lifestyle choice. Life is far more that boiling everything down to a financial calculation unless you literally cannot afford the basics.

If buying that watch sinks you - you deserve it. If you’re choosing between luxury goods, then go for it. If you’d rather invest it simply bc you like to - do it.

Live a little. Or not. Buy one. Or don’t. You don’t sound like you’re struggling. I have similar net worth and a watch is low on my list bc I want to renovate, get some new suits, and add principal payments on my house.

But if all that was not an issue, and you wanted to think about it financially, the calculus on buying a 10k watch for me would be based on my % of take home income. You’re at McK, so unless you’re a senior partner with a 7 figure salary my guess is a 10k watch is anywhere between 3-10% of your take home. Thats a lot imo for something you can’t drive lol

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You mean how the market is doing? Or why would I make extras principal payments on a mortgage with 7% interest cuz the latter is obvious. Also, I was talking as a general rule before buying a watch silly goose.

My smartest & favorite boss had an interesting POV. If you're on a high income trajectory, the odds are that your marginal happiness of spending money per dollar is higher now than it will be in the future. Don't make decisions that will ruin your future, and maximize stupidly obvious returns like 401k matches, but beyond that blast your cash

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I justified Rolex for being able to retain most of its value while I enjoy it and pass it down to my kids

You’re a band financial decision.

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