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Any good weekend getaways for March from NYC?
Additional Posts in Luxury Watches
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Loving the green
Thoughts on a Omega De Ville Prestige as a first luxury watch? Would be ~$7.5K USD at retail. Some friends have said great things about Omega as a starter, whereas others say it’s not worth it over a Rolex Oyster Perpetual (which would be similar in cost).
I personally love how clean the design is, the use of gold, and the thinner band as it links the watch … find the Rolex band design to be too chunky.
More details on the watch here: https://www.omegawatches.com/watch-omega-de-ville-prestige-co-axial-chronometer-39-5-mm-42420402002001
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Any Breitling fans out there?
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NWA❗️
Got the call for this piece yesterday.
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I do like it now.
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Happy Friday all! Let’s get after it today
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My base is $225k and my bonus this year is $56k. I cannot afford a Rolex. But I have 3 kids and student loans. Tons of people making way less than me but Rolexes all the time.
Agreed with P1. Treat yourself.. People wait and never happens or God forbid, they pass. All that hard work for what? Someone else to enjoy? Obviously to each their own.
Visual Storyteller
Really depends on what your other expenses and debt are. You shouldn’t finance and should just think of the $10K is gone. If you can pay that upfront and it not impact your life go for it.
When going to AD make sure to say Submariner vs Submarine or your wait could be long. The more details and interest you know about the models the better chance you have to getting one. DJ can be ordered and Subs don’t have long waitlists anymore but you can’t just go into the store and buy that day unless you are buying pre owned somewhere
Rolex is a such a lame ass watch.
Get yourself a Casio G-Shock and use the other $9800 to retire early
To be fair, in addition to a few Rolexes, I do have the special edition powder blue John Mayer G Shock lol 😂. It’s kinda sick with a very specific attire setup (ie, not with a suit or at my office)
It’s a simple question of can you afford it, and do you like it enough to regret the purchase
I read somewhere that your watch should cost no more than 1% of your net worth.
Does NW include my watch collection? 😆
waited until it’s ~1% of my NW personally to even put my name down (my base is 250k)
EY1, while I agree you shouldn’t take on a loan to finance 100% of a g wagon, the vast vast majority of Americans will require debt to finance a car. Almost no one pays cash unless they’re fairly wealthy (by regular American standards).
Would it look out of place at work?
lol the question isn’t “can you afford it” it’s “will they sell you one”. Maybe things have gotten better with the economic downturn but you cannot just walk in and buy a Rolex
Shhhh. Let them have their illusions
I mean do you have $10k-$20k in cash that you’re willing to part with? Salary shouldn’t be a factor because you shouldn’t need to finance a Rolex IMO.
If salary is a factor and you’re dead set on financing this thing, if the payment is let’s say $1000/month and you’d pay it off in 1 year, can you otherwise pay your bills and meet your savings goals too?
There’s no right time. If you have the cash and want the watch, buy the watch.
How massive?
Haha…sure is, should have had my morning coffee first!
Visual Storyteller
If you like the watch, go for it .. as you probably know, will have to go to a dealer and get on The waitlist and bide your time. Or go secondary market and pay a premium
I would say that it falls into the discretionary bucket for which the same rules apply to things such as vacations, hobbies, etc., regardless of cost.
No debt
3-6 months of expenses in a HYSA
Monthly and total investment and retirement goals met
Pay cash for item and/or experience
I personally would not buy something like a nice watch if I was saving to buy a house, though to me that's more of a personal priority type question rather than being related to affordability.
This question is shocking from a consultant.
Just bought my first nice watch and while I enjoy having it and the $$ wasn’t significant to me, I can now say that I’d rather have bought a watch for 1-2k, which would have satisfied my desire to get one, and see the rest of that cash helping me retire 😂. Check used prices too, easy way to save some money and still pick up something great (this is what I’ll be doing next time!)
I mean the good news is that many Rolex models hold their value. Some may appreciate over time. One should never buy a watch as an investment because there are far better and less risky investment opportunities, but if you’re into watches and you can get sought after models at MSRP, it’s nice knowing you can get money back.
I have a Pepsi, Hulk, Turquoise OP and some other sought after sport models. I paid MSRP for all of them and it’s nice knowing that if things came crashing down tomorrow, I could cash some of them in for double what I paid.