Watches aren't investments, so what is?

[pearson1995]

Hi guys,

I'm asking this forum as I often hear how watches aren't investments and there are better ways to invest your money.
I personally strongly disagree with this. Are you going to make crazy money on a modern day rolex? Probably not. But I personally have made a nice amount on my watches admitidly through luck as much as judgement.

My question is if not watches, how would you invest 5-30 K right now? Please tell me ways you would reccomend or know about which in your opinion are better than watches.

Thanks.

[MonBK]

Buy a car or a boat for 30 and sell in a week for 50.

Repeat the above as many times as you can.

You're welcome.

[lapince]

Originally Posted by MonBK

Buy a car or a boat for 30 and sell in a week for 50.

Repeat the above as many times as you can.

You're welcome.

You mean buy for 50 and sell in a week for 30 I think, unless it's stolen, you changed numbers and gave it new papers, don't know in what dimension your maths are good. Lol

Real estate, stocks (be careful, stocks at their highest ever usually means the bubble is about to burst), gold, art, there are many things, but you better know what you are doing, can win or loose with those. I usually wait for a crisis to happen and buy real estate at it's lowest. And about watches, well in the 6 watches my wife and I have, we would break even on 2, and make money on 4, even used, but maybe there are 15 watches like this in the world. Just ddon't get into binary options or forex, 99% of amateurs loose all there

[MonBK]

Originally Posted by lapince

You mean buy for 50 and sell in a week for 30 I think, unless it's stolen, you changed numbers and gave it new papers, don't know in what dimension your maths are good. Lol

What exactly are you accusing me of?

[lapince]

Originally Posted by MonBK

What exactly are you accusing me of?

Nothing, I just never heard of making money on a car or boat, unless it is stolen or you buy a car, wait 30-50 years for it to become a collection model, had I kept my VW Golf model 1, it would be worth 30k, I sold it for 3k 22 years ago. Wasn't accusing of anything, just don't see how you can make money buying these 2 things and selling them, probably the 2 surest ways I know to loose money, unless like I said or if you buy direct from the factory because you know the CEO of Ford for example.

[Etschell]

Originally Posted by lapince

Nothing, I just never heard of making money on a car or boat, unless it is stolen or you buy a car, wait 30-50 years for it to become a collection model, had I kept my VW Golf model 1, it would be worth 30k, I sold it for 3k 22 years ago. Wasn't accusing of anything, just don't see how you can make money buying these 2 things and selling them, probably the 2 surest ways I know to loose money, unless like I said or if you buy direct from the factory because you know the CEO of Ford for example.

i think mon was being mon.

i vote for real estate and inflation protected assets such as gold and silver (physical not paper). and no a gold rolex does not count.

[MonBK]

Originally Posted by lapince

Nothing, I just never heard of making money on a car or boat, unless it is stolen or you buy a car, wait 30-50 years for it to become a collection model, had I kept my VW Golf model 1, it would be worth 30k, I sold it for 3k 22 years ago. Wasn't accusing of anything, just don't see how you can make money buying these 2 things and selling them, probably the 2 surest ways I know to loose money, unless like I said or if you buy direct from the factory because you know the CEO of Ford for example.

Ok.

[glenn_herwig]

Originally Posted by pearson1995

Hi guys,

I'm asking this forum as I often hear how watches aren't investments and there are better ways to invest your money.
I personally strongly disagree with this. Are you going to make crazy money on a modern day rolex? Probably not. But I personally have made a nice amount on my watches admitidly through luck as much as judgement.

My question is if not watches, how would you invest 5-30 K right now? Please tell me ways you would reccomend or know about which in your opinion are better than watches.

Thanks.

Put it in a hedge fund that charges a 3% management fee and takes 30% of profits. This is the way to invest! Just kidding! Don't do that. Put it in the Charles Schwab intelligent portfolio. No fees whatsoever and it rebalances for you. If you have 50k in the account it sells loosing etfs for tax efficiency. I'm opening one today! Some of my family has it and they love it. You don't even need to check it!

[MrTwi]

Seeds

Plant 1,000 and they become 100,000,000

Sell

Repeat

Nature finds a way

[Valenciawatchrepair]

I think one must first define "investment." Some consider anything that will have a return. Some only consider it if it's going to pay out in the future. All are going to have some risk.

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[tamiya]

Originally Posted by Valenciawatchrepair

I think one must first define "investment." Some consider anything that will have a return. Some only consider it if it's going to pay out in the future. All are going to have some risk.

Yup.

Any "Investment" must have a confirmed entry price, exit price & term - everything's agreed to on contract before commencing.

Everything else is called a "Gamble"... or putting on my polite financial advisor hat, it's a "speculative endeavour"

[brandrea]

Buy and hold good blue chip dividend paying stocks.

[ejvette]

Originally Posted by brandrea

Buy and hold good blue chip dividend paying stocks.

I'm with ya that it's what I've done for the past 20 years and have been rewarded quite handsomely !


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[locutus49]

This:

Originally Posted by brandrea

Buy and hold good blue chip dividend paying stocks.

[BLACKHORSE 6]

Originally Posted by brandrea

Buy and hold good blue chip dividend paying stocks.

Yep

[greggsiam]

In addition to what was said above, I would throw 1-2k in crypto and forget about it for 5-10 years.

[pearson1995]

Thanks for the responses guys... few things I'm from the UK, early 20's if that makes a difference. Looking to invest around £5K

I like the idea of either gold, or blue chip stock although I understand the stock market right now may not be the best to invest in.

Can I ask, here in the U.k how would I go about buying gold? And then how would I sell it? Through banks? Websites etc?

And same with stock. Do you go through a bank?


Sorry if I seem very naive on this, I have to start somewhere haha.

[hugs]

Originally Posted by pearson1995

Thanks for the responses guys... few things I'm from the UK, early 20's if that makes a difference. Looking to invest around £5K

I like the idea of either gold, or blue chip stock although I understand the stock market right now may not be the best to invest in.

Can I ask, here in the U.k how would I go about buying gold? And then how would I sell it? Through banks? Websites etc?

And same with stock. Do you go through a bank?


Sorry if I seem very naive on this, I have to start somewhere haha.

I'm also in the UK, early 20s and in a similar position.

The best way to invest £5k would be through an online broker. I use Hargreaves Lansdown which charge slightly high fees but IMO the service is worth it. They are the largest broker here and are covered by the financial services compensation scheme (if they go bust and lose your money you are covered by the government up to I believe £50k). There are other companies if you want to research, but I would be sure to go for one that is covered by FSCS.

With £5k I would open an ISA. The annual charge is a bit higher (I think it's about 0.6% a year) but you can put 20k a year into this and long as you don't withdraw it will always be tax free. Even if you made £1m from the money in there, as long as it stays in there, any further profits made from it would be tax free. While it's unlikely with 5k you will hit the profit thresholds to pay capital gains (£11.3k) or dividend (£5k) tax it's good to start building it up early, if you didn't you probably will wish you had done in 10 years.

Unless you are investing a huge sum you can normally just deposit money via a debit card payment, then it's incredibly easy to invest in whatever you choose, you will see what to do when you log in.

You can buy physical gold through websites, personally I have used bullionbypost.com. Though they charge about a 3% surcharge over the weight value and give you about 98.5% when you sell it back. Have also used a gold ETF (basically a company that just holds a load of gold and you buy shares in it which represent the gold) which you buy through your share dealing broker. You have no claim over the physical gold but it's cheaper, you just pay the dealing charge as if it was a share. If you buy silver ETFs are the only way to go as we pay 20% VAT on physical silver here.

[beshannon]

Originally Posted by pearson1995

My question is if not watches, how would you invest 5-30 K right now? Please tell me ways you would reccomend or know about which in your opinion are better than watches.

Thanks.

This is why so many people fail at investing their money.

This question cannot be answered here, simply because we know nothing about your financial situation.

Debt?
Net worth?
Goals?
Age?
Age until retirement?
Current investment portfolio?

People can rationalize buying luxury jewelry as an "investment" and wait until inflation and currency devaluation drag the values higher and they pretend that they "made money on their investment".

I suggest you refocus and separate investing from buying.

Good luck!

[dmash]

Originally Posted by beshannon

This is why so many people fail at investing their money.

This question cannot be answered here, simply because we know nothing about your financial situation.

Debt?
Net worth?
Goals?
Age?
Age until retirement?
Current investment portfolio?

People can rationalize buying luxury jewelry as an "investment" and wait until inflation and currency devaluation drag the values higher and they pretend that they "made money on their investment".

I suggest you refocus and separate investing from buying.

Good luck!

This guy knows what he's talking about.

[beshannon]

Originally Posted by dmash

This guy knows what he's talking about.

Thanks in another life I was in that business.

[lapince]

Originally Posted by dmash

This guy knows what he's talking about.

Well that depends, if you can get your hands on a few 5131, whichever metal, at retail price, then yes watches are a great investment.

[Magwitch]

I engaged a financial advisor many years ago. I am not wealthy and probably have a LOT less $ than many posters here, but I would have a LOT less than I have now without his advice.

What I have is irrelevant to post because it applies to me, as noted above, each case is unique. I am almost 68 and am retiring on 1 Sept. I would not be able to do this without investment help from a competent advisor.

That is my strong recommendation for you.

[lapince]

I didn't know what are blue chip stocks, here's an article for those who like me don't know, but stocks aren't for me, I need material things to feel safe... http://www.suredividend.com/blue-chip-stocks/

[hugs]

Originally Posted by lapince

I didn't know what are blue chip stocks, here's an article for those who like me don't know, but stocks aren't for me, I need material things to feel safe... http://www.suredividend.com/blue-chip-stocks/

Stocks are material, whenever I walk into an Apple Store for example I can think I own a billionth of this

[Carrera911]

I know I'm gonna upset many people here today by saying this but I'll say it anyways: I personally don't think Apple is a great stock/company anymore.
True that Apple sits on a lot of cash which they can use to purchase other companies.
True that apple created the iPhone.
But the last couple years I haven't seen any of their products to be very innovative. I'm sorry I was not impressed with the new Mac Pro, iPads or Macs. I couldn't find one good reason to upgrade my i6s to i7 etc...

Originally Posted by hugs

Stocks are material, whenever I walk into an Apple Store for example I can think I own a billionth of this

[hugs]

Originally Posted by Carrera911

I know I'm gonna upset many people here today by saying this but I'll say it anyways: I personally don't think Apple is a great stock/company anymore.
True that Apple sits on a lot of cash which they can use to purchase other companies.
True that apple created the iPhone.
But the last couple years I haven't seen any of their products to be very innovative. I'm sorry I was not impressed with the new Mac Pro, iPads or Macs. I couldn't find one good reason to upgrade my i6s to i7 etc...

Was just using it as a well known example, I don't own Apple anymore (made a decent amount on it in the past though) and agree with what you posted here.

Personally I think Microsoft is a much better company today than it was 5-10 years ago when I would have picked a Mac any day even if the PC was free. Microsoft have really upped their game while Apple have stopped trying.

[BristolCavendish]

Originally Posted by pearson1995

My question is if not watches, how would you invest 5-30 K right now? Please tell me ways you would reccomend or know about which in your opinion are better than watches.

Consider relocating to AK/CA/CO and starting a successful 'plantation'. Rolexes will soon become a secondary priority and 'a drop in the bucket' as you will be able to easily afford any model (vintage/contemporary/PM).

[Danny83]

Restore a 1970s model Chevelle and sell it

[ecdc]

Originally Posted by pearson1995

Hi guys,

I'm asking this forum as I often hear how watches aren't investments and there are better ways to invest your money.
I personally strongly disagree with this. Are you going to make crazy money on a modern day rolex? Probably not. But I personally have made a nice amount on my watches admitidly through luck as much as judgement.

My question is if not watches, how would you invest 5-30 K right now? Please tell me ways you would reccomend or know about which in your opinion are better than watches.

Thanks.

Still have a mortgage? Credit card debt? Pay that down first.