At what Net Worth would you buy a Rolex?

likefunnyuplifting
Posting as :
works at
You are currently posting as works at
Highlighted IconHIGHLIGHTED

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

like

Seeing that I've never owned a watch in my 60 years...

...never!

like

A classic Rolex might cost around $10k? So net worth of $10k.

funnylikesmarthelpful
Recent IconRecent

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.

funnylike

If you think a Rolex woukd improve your life.

like

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.

like

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.

likefunny

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.

like

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.

like

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).

like

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.

like

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.

funny

If you want to work an extra 3 months vs retiring earlier, then sure buy as soon as you can.

Great Question!

like

Probably never, since I don’t really want one

like

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)

like

Never 🤷🏼‍♀️ I'm not into luxury purchases

like

$5m-6m.

like

Rolexs are cheesy. Buy a good watch like a Patek if you are going to splurge

like

$10K vs $100K? Patek is a whole different tier

likesmart

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.

uplifting

why would I ever want one?

like

Not into watches, but built a $25k home gym around $2M net worth and haven’t regretted it once

like

How much is a Rolex? I guess I’m too poor….

like

$10k USD might get you into the entry level.

1% 1 million would get your 10k Rolex

like

Related Posts

This bowl is so quite, I was hoping for some good advice.

The LinkedIn headers have gone too far now

Post Photo
funnylike

Senior engineer making 135k and I was offered a promotion to engineering manager after completing a development plan. Near the end of the plan and I expect compensation talks to start soon. Based on some research around Boston and my role in the company, I feel 165k plus 10-15% bonus is fair. Nonetheless, first time going through something like this and asking for thoughts and comments. Thanks!

like

How is Infosys culture when you're a scrum master

like

Bain & Company For those working in industry, how much jump would you realistically expect when moving to an MBB?

McKinsey & Company
Boston Consulting Group
Bain & Company
SAP
Microsoft
IBM

Hello! I’ve been at the insurance company I work for, for 8 years. I did 3 years in sales, 2 in customer service and the last 3 years as a learning and development training specialist. I feel my company is undervaluing me. Any advice ?

like

I am starting a PgM role ar Google next week and will have a remote onboarding. Any thing to keep in mind? Any insight is helpful :)

like

When are Pune offices reopening?

I have offers from Deloitte India and IBM Consulting for a role in consulting function. (SAME PACKAGE) IBM Consulting Deloitte India Which one should I go for?

like
like

Any recommendations on seaside towns that would be fun for a 5-6 day stay within an 8 hour drive of Boston? Going next week, so not a place that's a ghost town in October.

like

What’s up with people talking about withdrawing from retirement due to CARES Act and investing elsewhere?

like

Anybody know what's up with QS?
Good to buy the dip? They down 40%

like

Looking to return to singapore from the us. Spent the last 10 years consulting in the us - 4 with ibm and 6 with slalom. Any tips on which firms to target or avoid, based on prospects and culture?

like

I’m 30, should I consider joining S& Middle East as Senior Associate in attempt to make Manager and leave? Is it too exhausting? Will I burn out before I get there? And how long to Manager?

like

How much would orange theory cost if you went 2-3x each week?

like

Have an acquaintance who is a single mom; she purchased a used car 3 mos ago. Six wks later her 17yo wrecked it, air bags deployed, and estimates have ranged between $10-$18k in needed repairs while $21k is still owed. Acquaintance was switching insurance policies and flubbed the coverage dates and there were a few days where the vehicle was uninsured. No GAP insurance. I'm not seeing many options for her besides to continue pmts, fixing just enough to drive or voluntary repo. Thoughts?

like

Guys, How is NTT DATA Business solutions for SAP ABAP Consultant Role ? How's is job security and wlb there ? Do they have s/4 Hana projects? Can someone working there highlight please.

Tata Consultancy Infosys HCL Technologies NTT DATA NTT Deloitte EY Capgemini Cognizant

Anyone here from Citi Pune ?
Can you please share details about Club Mahindra perk in Citi ?

like

Additional Posts in FIRE Financial Independence Retire Early

I’m 36 and I recently reached a net worth of 1 million dollars. I thought I was doing good but then I see other people with several millions and can’t help but wonder how they got there.
I feel I’m doing everything I’m supposed to (I save, I invest, I max out my 401k, IRA, etc...).

What can I do to upgrade my game and reach those higher numbers?

likesmartfunny

Anyone here working in the NYC area? Wondering how you manage to save and buy for a house with such a high cost of living in the city and the suburbs around it. How did you do it? And areas that you would recommend looking at. I’m currently 24. Maxing out all retirement accounts, debt free and have 6 months emergency fund. Looking for areas to buy a house in the future, but getting discouraged with these crazy prices

like

Thoughts on potential business ideas or investment opportunities where I can live the life I deserve now and not in retirement? I’m always trying to think of potential business ideas and come up with nothing. As far as interests, it doesn’t matter what it is. As long as it makes money I’m interested.

like

Given crazy market returns recently, do you still expect the market to rise at 10% over the next 30 years?

like

This is gonna sound stupid, but I’m honest - I can’t do math. Calculating a tip is as advanced as I get. Thank god for excel formulas and a math savvy husband. At the end of the day, I pay all the bills (I know- but I’m more organized) and make double his salary, what low stress effort (on my limited math capacity brain) can I do to increase wealth?

I feel like I should be doing more with extra money to help us financially, but I’m scared of having to study stocks and understand the numbers. 😖

like

Anybody using Marcus high yield savings? 1.9%APY seems like a no brainer, just want to be sure I’m not missing anything.

like

Just watched office space again and realized it’s actually about the FIRE movement (without explicitly saying it)

likefunnysmart

I contribute 10% of my paycheck to my employee share purchase plan. Is this smart to do given the tax repercussions behind it? Is it smarter to invest less in that and more in my Roth or 401k?

like

How do you invest and save for your children? I’m thinking about setting them up with custodial brokerage accounts but don’t want them to have a heyday at 18. Did you create irrevocable trusts or?? They are too young for earned income and I don’t own a business so no IRA investing opportunities here.

like

My monthly salary is around $6.4k after-tax. Living in NYC. Do you think it’s reasonable that I pay:
- about $1.5k on rent
- about $500 on utilities and subscriptions
- about $900 on student loan
- about $2k on food and etc.
My saving goals is around $3k so been trying to adjust my monthly spending.

likefunny

TC New grad Software Engineer
Base: $110k
Sign-On: $35k
RSU: $120k/3years
Relocation: $20k

Starting fresh with virtually $0 savings and $0 worth of financial literacy, whats the best course of action? any advice is greatly appreciated!

like

Should I rejoin Equinox? Background: I cancelled my equinox membership because I wanted to try out different gyms. After about a month and a half, I’ve determined I really miss Equinox. It’s kind of expensive ($250 per month, but only an extra $130 over an average local gym). I like saving money but my health has definitely taken a dive because working out is not as enjoyable. Am I crazy?

like

What’s everyone using instead of Robinhood? I just learned of WeBull recently but am not sure it’s for me.

like

Sharks! I’m 33, currently working as a Java Architect (11.6 YOE, 40 LPA INR). I’m planning for retirement at my 40. Currently owning a house worth 1 Crore INR where I’ll be closing my home loan by this August. Please suggest diversified options of Investment for my retirement. I don’t have any investment till now (except the house) as I used my whole income to close off the Loan which I took in 2019.

like

Has anyone successfully “ported” their mortgage? Just learned about this and doing some research since rates are so high now. Current rate is 3% and new home will be more expensive, for context.

likesmart

I’m not bad with money but definitely lots of room to improve overall, due to several personal factors I don’t want to list in full here (numerous unanticipated medical bills, bad boyfriends, etc.) Hence why I only have $3k in savings right now. My first mini goal is to have $5k saved by the end of December. I need motivation and words of encouragement. If I pay off my medical bills, I won’t make my goal. I have to start putting saving money first. Getting depressed about my situation.

like

How much have you saved from refinancing your student loan?

I wish I wasn’t adaptable. Humans aspire for a greater level of comfort and once achieved, adopt that as their new baseline. Because of this, somebody making $100k cannot simply comfortably revert back to a $50k lifestyle. The slow growth of personal wealth isn’t noticed as ideated. Instead, we are never satisfied.

Can you relate? Has your salary / net worth growth dramatically improved your quality of life?

like

FIRE Newbie here - wondering how everyone is retiring early (30’s 40’s 50’s) if the majority of your savings are tied up in tax preferential retirement vehicles you can’t really touch for another few decades?

like

Is an IPO in anyone’s FIRE strategy? Maybe this is specific to the Bay Area, but it doesn’t seem that unrealistic to negotiate enough equity to make $1.5 mill off an IPO. Or maybe I’m dreaming 😂

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal