Shamed for my Rolex I Think???

[DCGuy1965]

Earlier this week I did my usual stint of waiting out the traffic on my off day from the gym. Anyone who knows DC traffic can relate and ranks driving in it right behind root canal. So I did the fail safe activity of heading over to a Starbucks to sip on an iced coffee and play stupid mindless games on my phone.

Well in the near vicinity there's a gentleman talking to 2 millenials about planning for their financial future, how important it is and the like. Overall pretty sound advice these days given student loan debt, sluggish wages, etc. But, and this is where it gets good, I happen to make quick eye contact with him and even smile with an approval nod when he proceeds to point at my wrist and tell these young people a purchase like that os totally against sound financial planning and can wreck your future. Folks, I was wearing my SeaDweller, nothing over the top. Now my first reaction was to tell this guy to well I'll keep it clean but instead I decided to have him elaborate.

We went back and forth about frugality versus living a little and I explained yes a Rolex is not a necessity but neither is Starbucks and chances are over a lifetime you'll spend a hell of a lot more for daily caffeine fixes. All the while these young people were closely following the conversation. I was just pretty amazed this guy had the stones to lecture ME about my finances like I was a kid. Look at my user name. I'm not that young anymore. Oh well, could have been worse. Imagine if I had a DayDate on.

[tkerrmd]

He should have used you as an example of a man of wealth, success and good taste reaping the benefits of years of hard work and great financial planning

[cop414]

Originally Posted by tkerrmd

He should have used you as an example of a man of wealth, success and good taste reaping the benefits of years of hard work and great financial planning

Exactly.

[jjnd08]

Originally Posted by tkerrmd

He should have used you as an example of a man of wealth, success and good taste reaping the benefits of years of hard work and great financial planning

x2

[Old Expat Beast]

Well, if they were saddled with student loan debt and on sluggish wages, a Rolex probably would be a bad move at this point. I'm sure he wasn't criticising or lecturing you personally, was he?

[Tseg]

There's all kinds. I'm not sure there is a right or wrong answer here.

[bkertzer89]

at 30k for a day date and 5$ a day for coffee it would take 16 years to pay it off

at 10k for a sports model it would take about 5.5 years to pay it off

no wonder howard rocks a paul newman ;)

[bkertzer89]

[Comacho]

Personally I find it pretty amusing that he would frown upon "wasting" money on a Rolex, but yet spending $5 dollars for a freaking cup of coffee is somehow ok? talk about irony... see what you can get for that cup of coffee after "ownership". His advise is worth about the same.

a Rolex is hard to lose money on if you buy right...

[DCGuy1965]

I'm a very happy stockholder. Howard is the man. As for myself I've done volunteer work at food pantries, and actually worked with families trying to navigate them thru the mortgage modification mine fields. I know my track record. All in all I don't begrudge the guy for trying to make a point. But these uber frugal types that buy food at the dollar stores, obsessively try to look for ways to be cheap and save I think take it to the extreme.

[SeaAndSky]

Originally Posted by DCGuy1965

All in all I don't begrudge the guy.

You should begrudge his bad manners. Lack of manners is becoming a real problem in America. Manners are a cornerstone in the foundation of a healthy siciety.

[DCGuy1965]

Originally Posted by SeaAndSky

You should begrudge his bad manners. Lack of manners is becoming a real problem in America. Manners are a cornerstone in the foundation of a healthy siciety.

Sea and Sky I totally agree with you. But with age comes wisdom. Standing up and blowing a gasket calling him everything in the book makes him win. He can point and say "See, I told you how insecure people like hat are."

Trust me the crap that passes as entertainment and the garbage we are fed that passes as food probably contributes to the problem among other things (technology, social media, etc)

[Submariner2015]

Originally Posted by DCGuy1965

Earlier this week I did my usual stint of waiting out the traffic on my off day from the gym. Anyone who knows DC traffic can relate and ranks driving in it right behind root canal. So I did the fail safe activity of heading over to a Starbucks to sip on an iced coffee and play stupid mindless games on my phone.

Well in the near vicinity there's a gentleman talking to 2 millenials about planning for their financial future, how important it is and the like. Overall pretty sound advice these days given student loan debt, sluggish wages, etc. But, and this is where it gets good, I happen to make quick eye contact with him and even smile with an approval nod when he proceeds to point at my wrist and tell these young people a purchase like that os totally against sound financial planning and can wreck your future. Folks, I was wearing my SeaDweller, nothing over the top. Now my first reaction was to tell this guy to well I'll keep it clean but instead I decided to have him elaborate.

We went back and forth about frugality versus living a little and I explained yes a Rolex is not a necessity but neither is Starbucks and chances are over a lifetime you'll spend a hell of a lot more for daily caffeine fixes. All the while these young people were closely following the conversation. I was just pretty amazed this guy had the stones to lecture ME about my finances like I was a kid. Look at my user name. I'm not that young anymore. Oh well, could have been worse. Imagine if I had a DayDate on.

Frankly, having money expands one's options and if you can't spend your money freely what's the point of earning it then...quite rude I think for that guy to single you out though

[SeaAndSky]

You should have given the young ones a lesson in how bad manners to the wrong person isn't sound for the structural integrity of one's nose. What an a-hole. I rent an apartment in the area as I'm based there for work at the moment. The whole area is just filled with unpleasant boorish people. So much so that the genuinely nice and decent folks really stand out. I'm really looking forward to seeing the whole area in the rear view mirror.

[Jakx]

My 32-year-old DJ was purchased for (at the exchange rate at the time) about $1000 US, now worth probably twice this amount. Ok, not a great investment but I wouldn't consider it wasted money either, especially since it's still running great and a member of my family is happily wearing it.

[Relyt]

Originally Posted by DCGuy1965

Earlier this week I did my usual stint of waiting out the traffic on my off day from the gym. Anyone who knows DC traffic can relate and ranks driving in it right behind root canal. So I did the fail safe activity of heading over to a Starbucks to sip on an iced coffee and play stupid mindless games on my phone.

Well in the near vicinity there's a gentleman talking to 2 millenials about planning for their financial future, how important it is and the like. Overall pretty sound advice these days given student loan debt, sluggish wages, etc. But, and this is where it gets good, I happen to make quick eye contact with him and even smile with an approval nod when he proceeds to point at my wrist and tell these young people a purchase like that os totally against sound financial planning and can wreck your future. Folks, I was wearing my SeaDweller, nothing over the top. Now my first reaction was to tell this guy to well I'll keep it clean but instead I decided to have him elaborate.

We went back and forth about frugality versus living a little and I explained yes a Rolex is not a necessity but neither is Starbucks and chances are over a lifetime you'll spend a hell of a lot more for daily caffeine fixes. All the while these young people were closely following the conversation. I was just pretty amazed this guy had the stones to lecture ME about my finances like I was a kid. Look at my user name. I'm not that young anymore. Oh well, could have been worse. Imagine if I had a DayDate on.

You couldn't have said it better. Some people will spend more money on Starbucks, cigarets, dip, etc. than someone who purchases 1-2 Rolex watches. The good side is, we can make money back by selling our investment.

[Roll the Lex]

Maybe he took your nod of approval the wrong way?

Regardless, maybe the guy was a wis. He spotted the SD immediately?

[El Cascarrabias]

Originally Posted by Roll the Lex

. . . Regardless, maybe the guy was a wis. He spotted the SD immediately?

Geez! I was impressed he noticed an SD as a Rolex, too. No cyclops and the style is copied all the time.

That's one of the reasons I got the SD, it travels so well under the radar.

[Ruud Van Driver]

With all the sugar and crap in a Starbucks, I'd be amazed if anyone lived long enough to enjoy their savings after regularly drinking that garbage.

[RastabanStar]

Spending money on a Rolex is spending money on art. I understand and try to live a minimalist lifestyle, but I have priorities and a beautiful watch on my wrist has become one of them.

It's funny that a guy buying Starbucks is preaching about wasted money.

[stil]

Originally Posted by DCGuy1965

Earlier this week I did my usual stint of waiting out the traffic on my off day from the gym. Anyone who knows DC traffic can relate and ranks driving in it right behind root canal. So I did the fail safe activity of heading over to a Starbucks to sip on an iced coffee and play stupid mindless games on my phone.

Well in the near vicinity there's a gentleman talking to 2 millenials about planning for their financial future, how important it is and the like. Overall pretty sound advice these days given student loan debt, sluggish wages, etc. But, and this is where it gets good, I happen to make quick eye contact with him and even smile with an approval nod when he proceeds to point at my wrist and tell these young people a purchase like that os totally against sound financial planning and can wreck your future. Folks, I was wearing my SeaDweller, nothing over the top. Now my first reaction was to tell this guy to well I'll keep it clean but instead I decided to have him elaborate.

We went back and forth about frugality versus living a little and I explained yes a Rolex is not a necessity but neither is Starbucks and chances are over a lifetime you'll spend a hell of a lot more for daily caffeine fixes. All the while these young people were closely following the conversation. I was just pretty amazed this guy had the stones to lecture ME about my finances like I was a kid. Look at my user name. I'm not that young anymore. Oh well, could have been worse. Imagine if I had a DayDate on.

It was some guy giving financial advice to some young people at a Starbucks...could've been any Joe blow that read finance.yahoo.com.

I wouldn't sweat it...frankly, a Rolex can be more of an investment than a lot of stocks.

[sickened1]

I would've given him a piece of my mind but that's just me and I'm not that young either.

[Old Geezer]

IMO, that particular financial planner is a loser in his field and begrudges successful people who have what he wants but has not been able to achieve. He could have just as easily made the case for sound financial planning and execution to allow one to prosper and acquire nice things like a Rolex. Instead he points to a watch to imply that no one can afford one and if they buy one, they must not be saving.

[thomaspp]

Hard to put a price on the enjoyment I get from a fine timepiece, but maybe that's just me.


Sent from my iPhone using Tapatalk

[dreadnought]

As the kids say, "totez jelly"

[stil]

Originally Posted by dreadnought

As the kids say, "totez jelly"

They say that?

[dreadnought]

Originally Posted by stil

They say that?

Unfortunately

[eonflux]

Originally Posted by stil

They say that?

Haha. Not just "kids".
30 somethings utter "jelly"
I'm getting old...

[Desibaba]

Im a 32 year old car salesman and I make on average about $70k or so a year. I don't have a wife or kids and I have a fairly decent (around $600k) inheritance headed my way. My two most expensive toys would be my $47k Mercedes that I have leased and my used $6800 Rolex Sub. A lot of people at work and friends think I waste my time but they spend a small fortune on their kids, day care expenses and on their wives which I don't. Everyone's situation is different so what is frivolous for one person isn't the same for another even if they make the same amount of money. And yes if I had kids, child support and alimony to pay every month I definitely wouldn't be rocking the benz nor the Rolex.

[AlexMachine]

Originally Posted by Desibaba

Im a 32 year old car salesman and I make on average about $70k or so a year. I don't have a wife or kids and I have a fairly decent (around $600k) inheritance headed my way. My two most expensive toys would be my $47k Mercedes that I have leased and my used $6800 Rolex Sub. A lot of people at work and friends think I waste my time but they spend a small fortune on their kids, day care expenses and on their wives which I don't. Everyone's situation is different so what is frivolous for one person isn't the same for another even if they make the same amount of money. And yes if I had kids, child support and alimony to pay every month I definitely wouldn't be rocking the benz nor the Rolex.

This. I have a wife but no children. We both have a white collar middle class jobs and we are not parsimonious, but we think every day where we put our money. First, pay as much our mortgage as we can every month. A house is good solid investment for the future.
Second, put some money to savings account every month.
I we some more money left, we buy some stocks or save for a nice watch.
And after that, if we still have some extra money left = Holiday, long weekend in a spa etc.

I am 44 and shes 34. After 8 years together, we now have paid about 1/3 of our house, got some nice watches, some stocks and savings. We are by no means rich, but no we live comfortable and have nice "Financial Cushion" in case something unexpected happened.

Meaning, pay the most important things first, make sure you save some, and diversify some of your capital if possible. But make sure you enjoy your life and some of the best things in life are still free of charge!