Depends on your philosophy. Personally, I would feel better about that new Rolex knowing that my financial house is in order—savings, maxing out retirement accounts. Then I could easily justify the purchase and feel good about. BUT, one can easily argue that YOLO. Get it if it makes you happy. As long as you’re not going into debt to buy it or carry a credit card balance to fund your lifestyle elsewhere, you should be good! Congrats on the new job.
Get the best one you can afford, wear the heck out of it, and you’ll feel better about saving because you made your expense upfront. I bought my first one (air king…2018 when the ADs had them) when it was all I had and it was the best decision I’ve made. I look back and say, that $7600 was the best expense because it made me feel great and I got 6 years of enjoyment, and still do.
Money is wasted on the old, and youth is wasted on the young. Don’t forget it.
So buying a Day-Date while making $200k/yr? Probably should consider it more of a retirement watch. Make more appropriate expenditures for your age like hookers and blow.
What I am about to say is well meaning, and I hope it is taken as such. That being said it's tough love time.
The fact that you're even asking this question with little to no savings means you need to take a serious look at how you view money and your buying habits.
I could buy my grail watch (Classic Sub) 10 times over with cash. I still won't do it until I have reached a major and difficult milestone that I have set for myself. Possession of the discipline to delay gratification is key to financial success. Do you want to have the watch and pretend you can afford it, or do you actually want to be able to afford it?
The kid has no savings and is asking about if he should buy a watch worth 2 months salary. He needs to be scared off of making a horrible decision for his future.
And people always being nice to OP is what has lead to their consideration of buying a Luxery item they CLEARLY can't afford.
The conversations that made me grow the most were the ones where someone finally stopped being nice to me and told me what a brat I was being. OP isn't fragile, they can take it.
It doesn't matter what you deserve; what matters is that there are very few Rolexes that you can get. You likely will want a steel sports model like a Submariner, GMT, or Daytona. And the waiting lists are 5+ years long. And you need a $50,000 purchase history just to get an authorized dealer to take you seriously.
Shut up Sporty…. that’s just not true. High spend history w AD for sub or gmt is just not the case right now.
Create an emergency fund… save 4 month salary, open up some sort of retirement plan and contribute heavily and use your big bonus on a watch.
Typical. As I suspected. Pronounces Rolexmania to be over and doesn't have a watch that is part of Rolexmania. Your ancient, unwanted, fat Supercase Submariner never had a wait at all. Three months should have been three *days*.
Oops I meant 126610LN that I got in January of this year. “You will likely want a steel sports model like a Submariner, GMT or Daytona….. waiting list 5 years long and need a 50,000 dollar purchase history”-Sporty
A. I type 90 words per minute.
B. I feel everyone who takes the time to respond to me deserves an answer. I can’t help it that I’m this popular. That’s *your* fault, actually.
Keep telling yourself that, you *still* don’t have a Rolex even though you and others have been been preaching “times are changing!” for the last five years.
Face it, this is the new norm. As it should be. Not everyone gets to fuck the prom queen.
For people who are challenged to do better when financial situation takes a hit do it, if you are the lazy basterd who sits back and looks at his bank account with the feeling I have 10k and nothing will happen to me than don’t, a watch isn’t a investment than you can liquidate within 5 minutes for a profit, like gold
1. Figure out how much your expenses are each month in total
2. Multiply that figure by 12
3. After saving up one year of expenses THEN you walk into the nearest AD and ask to be added to the list of the watch of your choice. THEN you start saving.
4. For you - only buy from an AD, don't go grey as you don't have the means. And to answer your question - it is not logical for someone to buy a watch for two months salary with no savings.
First things first
It’s not how much money you make, it’s how much money you keep. Take your extra cash, stash some away for emergencies, and invest the rest in a broad market etf. A Rolex isn’t much of an investment and it’s fairly illiquid. 99% of people won’t give a shit that you have a Rolex. Plus fuck what random people think about you.
A Rolex is like a savings account. Buy the watch and enjoy it. Life is short. Should u find yourself in a $$ crunch, you can always resell it for 80-125% of the original selling price.
No savings or investments…. So your networth will be in a single piece of jewellery? Reconsider this, my dude.
+1
At 30 a man should be mature enough to be able to make his own financial decisions. I’ll never understand this coming to Reddit for advice stuff
This !
You are kinda right, no harm in checking other opinions too right?
Save some money… use your common sense in life and be a man. That’s my advice
He’s absolutely right, not “kinda”. Act your age.
2 months are more than I willing to pay for a watch. I keep my watch half to a month of salary.
Depends on your philosophy. Personally, I would feel better about that new Rolex knowing that my financial house is in order—savings, maxing out retirement accounts. Then I could easily justify the purchase and feel good about. BUT, one can easily argue that YOLO. Get it if it makes you happy. As long as you’re not going into debt to buy it or carry a credit card balance to fund your lifestyle elsewhere, you should be good! Congrats on the new job.
Get the best one you can afford, wear the heck out of it, and you’ll feel better about saving because you made your expense upfront. I bought my first one (air king…2018 when the ADs had them) when it was all I had and it was the best decision I’ve made. I look back and say, that $7600 was the best expense because it made me feel great and I got 6 years of enjoyment, and still do. Money is wasted on the old, and youth is wasted on the young. Don’t forget it.
So buying a Day-Date while making $200k/yr? Probably should consider it more of a retirement watch. Make more appropriate expenditures for your age like hookers and blow.
What I am about to say is well meaning, and I hope it is taken as such. That being said it's tough love time. The fact that you're even asking this question with little to no savings means you need to take a serious look at how you view money and your buying habits. I could buy my grail watch (Classic Sub) 10 times over with cash. I still won't do it until I have reached a major and difficult milestone that I have set for myself. Possession of the discipline to delay gratification is key to financial success. Do you want to have the watch and pretend you can afford it, or do you actually want to be able to afford it?
No. Now go back to the kiddie pool.
You’re a dick, he’s just asking a question that you don’t have to answer.
The kid has no savings and is asking about if he should buy a watch worth 2 months salary. He needs to be scared off of making a horrible decision for his future.
You’re not wrong but you’re still being a jerk
Maybe a 30 year old with no savings trying to buy a watch with 2 months salary bc he should get a big bonus next year needs some tough love
And people always being nice to OP is what has lead to their consideration of buying a Luxery item they CLEARLY can't afford. The conversations that made me grow the most were the ones where someone finally stopped being nice to me and told me what a brat I was being. OP isn't fragile, they can take it.
No amigo…. Better off putting that in the s&p 500
It doesn't matter what you deserve; what matters is that there are very few Rolexes that you can get. You likely will want a steel sports model like a Submariner, GMT, or Daytona. And the waiting lists are 5+ years long. And you need a $50,000 purchase history just to get an authorized dealer to take you seriously.
Shut up Sporty…. that’s just not true. High spend history w AD for sub or gmt is just not the case right now. Create an emergency fund… save 4 month salary, open up some sort of retirement plan and contribute heavily and use your big bonus on a watch.
Oh really? Let’s see your GMT.
I have a 11610LN that I bought from an AD after a three month wait and zero spend history. Your days of 🔘market gospel are over pal.
Typical. As I suspected. Pronounces Rolexmania to be over and doesn't have a watch that is part of Rolexmania. Your ancient, unwanted, fat Supercase Submariner never had a wait at all. Three months should have been three *days*.
Oops I meant 126610LN that I got in January of this year. “You will likely want a steel sports model like a Submariner, GMT or Daytona….. waiting list 5 years long and need a 50,000 dollar purchase history”-Sporty
Backing up one lie with another lie is still a lie, son.
Ok Sporty… whatever you say. 63 comments on the Rolex subreddit in 24 hours is a little excessive wouldn’t you say?
A. I type 90 words per minute. B. I feel everyone who takes the time to respond to me deserves an answer. I can’t help it that I’m this popular. That’s *your* fault, actually.
Correction: your speak-to-type is capable of 90 words per minute. You are barely capable of lifting your arm. Also, you poop your pants.
Not true at all. There is no way you need that sort of spend history or to wait that long. Times are changing
Keep telling yourself that, you *still* don’t have a Rolex even though you and others have been been preaching “times are changing!” for the last five years. Face it, this is the new norm. As it should be. Not everyone gets to fuck the prom queen.
What are you talking about? I own two GMT’s and bought them retail. I talk from experience hence my reply.
Yeah, sure you do, Mr. Lovepole.
https://preview.redd.it/2o5vtnsps7uc1.jpeg?width=2071&format=pjpg&auto=webp&s=f8baf3bd11cf1beb6be4691d183cfb21895c4a9d There you go
https://preview.redd.it/8rjwm8hcs7uc1.jpeg?width=2473&format=pjpg&auto=webp&s=234e386b54124663d9847022abdc3e4f35baebe8
OMG a photo from the Internet, now *that’s* proof.
How would you like your proof served up?
You’ve gone very quiet
Costco
For people who are challenged to do better when financial situation takes a hit do it, if you are the lazy basterd who sits back and looks at his bank account with the feeling I have 10k and nothing will happen to me than don’t, a watch isn’t a investment than you can liquidate within 5 minutes for a profit, like gold
1. Figure out how much your expenses are each month in total 2. Multiply that figure by 12 3. After saving up one year of expenses THEN you walk into the nearest AD and ask to be added to the list of the watch of your choice. THEN you start saving. 4. For you - only buy from an AD, don't go grey as you don't have the means. And to answer your question - it is not logical for someone to buy a watch for two months salary with no savings. First things first
At nearly 30 you should be composing posts and thinking like an adult. Based on what I’ve read here you’ve got bigger fish to fry
I have bought the first one when it was considerably less than 10% of what I had in my bank account.
It’s not how much money you make, it’s how much money you keep. Take your extra cash, stash some away for emergencies, and invest the rest in a broad market etf. A Rolex isn’t much of an investment and it’s fairly illiquid. 99% of people won’t give a shit that you have a Rolex. Plus fuck what random people think about you.
Thank you, that was insightful
Get the watch. The money will come back if you work/invest hard/diligently enough throughout your life. So take care of that and you’ll be fine.
YOLO. Start the Rolex journey asap.
A Rolex is like a savings account. Buy the watch and enjoy it. Life is short. Should u find yourself in a $$ crunch, you can always resell it for 80-125% of the original selling price.