At what Net Worth would you buy a Rolex?
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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.
When you have no debt and can pay cash. And save the purchase to commemorate a milestone. I bought mine after a big promotion and looking at the watch today reminds me of that moment.
none
Like any luxury purchase ... you can afford a Rolex when you can afford to pay cash for it.
Personally, as a matter of principle, in addition to net worth, I would wait until hitting a professional milestone (like - making partner, winning a major case, etc.)
There is nothing wrong with wearing a nice watch - in fact, it's part of being nicely dressed and professional - but one thing to consider is that the Rolex brand definitely sends a message. It can carry a social baggage as well as prestige, and sometimes create wrong impressions. It can turn people off.
if you are asking this question, you are not yet ready. Hopefully soon you will be!
The reason why today I could buy one, or many Rolex, is that i have never bought a Rolex. So never ever. Even if my wallet would not suffer, I would feed the failure of letting this type of distraction overcome my logic and my plans.
By far I prefer BEING ABLE to buy a Rolex, that actually doing it, regardless of millions/billions/trillions.
oh wow bro trillions too huh… would you still treat your dates to the dollar menu
To each their own, but I wouldn't.
no amount of net worth. can't take anything with you. Nice time piece but I also have a level head.
Subject Expert
You can take a Rolex with you, they just put it on your wrist in the coffin.
I wouldn't. It's flaunting wealth, not serving a purpose. If I had the extra money "burning a hole in my pocket", I'd give it to someone who can use it productively. We have lots of nonprofits who are unable to do their jobs as effectively as they would like due to lack of funding and lack of volunteers.
You've got this completely backwards. For any liability (you could consider a Rolex an asset is it appreciates... but unlikely for even a typical Rolex) - you should NOT consider net wealth.
You should consider cashflow.
You can have a net wealth of 10 million and have negative cashflow. That is a bad position to buy a Rolex in.
Instead, you should ask how much is your net cashflow and how much of that is passive.
I would buy a Rolex if my net wealth was over 5 or 6 million, I was pulling in around 250k / year in passive income AFTER servicing all debts and before tax, and I was no longer working out of need.
That's an extremely positively geared position for someone who came from nothing like me.
In 3-4 years I will be in my 40s and will have accumulated over 20 years about 8k in passive income per month, or 96k/year. So I doubt that I will get to the point where I'm willing to buy a Rolex. Like others have said - that's money I could use to reduce debts or leverage to acquire another asset.
Subject Expert
I would buy one now if I really wanted it. I don't want one.
I love watches and always wanted a Breitling. I treated myself to one a few years ago while on vacation. Not at all tied to N.W. milestone but if I were to take a guess it was around the time my NW crossed $2M.
While Im not personally a fan of Rolexes, they tend to hold their value better than many other watches but, in my opinion, are a bit too common.
6-7 mil
I bought my first Rolex after my first Six figure year in NYC, a stainless day/date then after 4 years of higher six figures I purchased my Platinum Daytona and I love that watch it was a great investment considering it's worth 4x what I paid for it in 2004. It's never a bad investment a Rolex will hold or gain in value over time.
Aww you poor baby you are triggered. You don't want someone to point out your moronic point don't comment. My original response was on topic you went down the rabbit hole my friend.
Never , it is a waste of money to impress people around you. I would rather spend that amount on some productive thing e.g. investment or may help someone in need of basic necessities.
There is no amount of money that would make me that shallow or stupid. It's a waste of money and unless there are literally no charitable causes left that could use it. You'd have to be an absolute disgrace as a human being to waste money on something as useless as a watch (seriously, your phone has the time on it) while others are in need.
High end watches usually appreciate in value. The issue is that you have to have a lot of disposable income to consider it and you can't wear it much if you want to realize that value.
When I graduated college buying a Rolex was on my goal list for when my net worth hit One Million dollars. Once I hit One Million dollars I thought about that goal, and it occurred me that was a no longer important to me. I have the pleasure of knowing I could go out and purchase one at any moment and it wouldn't phase my overall liquid bucket much at all, but at this point in my life my goals focus more around freedom to choose what I do with my time, travel, and experiencing life rather than a fancy watch on my wrist or other flashy things.
At $20 million it’s worth getting a Ro-Ro. Anything less it’s better to wait
If you have to ask the answer is not yet.