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Never because I don't waste money on watches.... I DO waste money on other hobbies and spend over 15k a year on them so no judgment if it would bring you joy. Id say at 500k NW It isnt an outrageous spend. Might be cool to celebrate 1M
Seeing that I've never owned a watch in my 60 years...
...never!
A classic Rolex might cost around $10k? So net worth of $10k.
Pretty much never. And of course I’m talking about any material status symbol. I just don’t feel the need to convince other people that I am wealthy. I’m creeping up on $10M net worth, and I drive a 22 year old minivan. 😂 If something adds significant value to my life, I will buy it. If it doesn’t, I won’t. And peacocking does not add value to my life because I just don’t care that much what other people think.
If you think a Rolex woukd improve your life.
As long as I'm an employee, I'm never buying a Rolex. May be once I'm at 2M networth and quit this rat race , I may get one while being a business owner.
I bought one my first year out of law school. So my net worth was negative by the amount of my law school debt. It was only like 13k though so not the end of the world.
Not really a net worth calculation for me at least. I always have budgeted and invested my paychecks religiously. Got a $100k bonus one year and bought a Rolex and invested the rest. Got another sizable bonus and bought an AP and invested the rest. I think it’s a cash flow calculation more than a net worth calculation if that makes sense.
Subject Expert
OK, I guess.
Never. It’s a watch. it tells time. Those types of status symbols mean nothing to me. I’ve got no need to impress others. If I had a net worth that would justify that level of purchase, I’d buy things like artwork. To hang in my house, not to impress others, but to make me smile when I see it.
Some watches are an actual cash investment. Though, if you have to ask how much you should make to buy one then you don't make enough to buy one.
1mm net worth without residence or 401k (would include however other retirement accounts).
I’ve been retired for two years with VHNW liquid assets. I am in the market for a nice Rolex. The fact that I haven’t pulled the trigger yet is probably saying something. I don’t know what that something is though.
Interesting thought. I used to say that about retirement. Being able to retire was almost as good as actually retiring.
Y’all are crazy lol if it means something to you, buy when you can, and feel like you can. That’s it.
Subject Expert
If you want to work an extra 3 months vs retiring earlier, then sure buy as soon as you can.
Great Question!
Probably never, since I don’t really want one
When passive income can pay for all living expenses + the rolex. Net worth is tricky because if you living in an expensive area, you will need a higher net worth. I live in California, house prices are around $1.5M. My living expenses are around 150K/year. Given the 4% rule of only investable assets, I'd say a minimum NW of 5.5M (4M in investements + 1.5M primary residence, assuming Rolex is 10K)
Never 🤷🏼♀️ I'm not into luxury purchases
$5m-6m.
Rolexs are cheesy. Buy a good watch like a Patek if you are going to splurge
$10K vs $100K? Patek is a whole different tier
I bought my first Rolex (of 2) back when my net worth was a pittance. I've had 20 years of wearing pleasure from it, and today it's worth around twice what I paid. There are definitely worse things to spend money on than a Rolex.
why would I ever want one?
Not into watches, but built a $25k home gym around $2M net worth and haven’t regretted it once
How much is a Rolex? I guess I’m too poor….
$10k USD might get you into the entry level.
1% 1 million would get your 10k Rolex