It's so hard to know when you're ready to "afford" the next Rolex

[Joey_V]

I don't know about you guys but it's a struggle for me to know when the right time is to buy the next Rolex based on affordability.

I've been eyeing the RG Daytona for so long but still have yet to pull the trigger.

Meanwhile I see some guys like Tom and Ken pulling triggers on the Platona... sick!!

Higher level honchos for sure.

I don't know, just wanted to vent. Though I'm sure many others feel this way.

[MonBK]

I check my bank statement, if there's money there I buy.

[cop414]

If you're struggling with the decision then I'd say that it's not the right time.

[adamlea]

Originally Posted by MonBK

I check my bank statement, if there's money there I buy.

x2. But I also make sure there's enough to do a little something for the wife too, because a little preventative spousal diplomacy goes a long way in my house.

[cop414]

"preventative spousal diplomacy", gotta love that term...

[SUPERDOC]

Originally Posted by adamlea

x2. But I also make sure there's enough to do a little something for the wife too, because a little preventative spousal diplomacy goes a long way in my house.

this is the arrangement in our house...

We have it all budgeted - enough money goes to needs - enough for investments - RRSPs - kid's education- emergency fund - then there's the blow money -- when the blow money account is getting too heavy - impulse buys tend to eat it up...if there's a watch I'm eyeing...then the blow money account has to be able to support it...

no money from any other account is ever taken for luxury/frivolous purchases..

[mjclark32]

I hear ya, bought my sub three years ago, bought a house and redid it a year later, last year I joined a country club, now this year I was about to buy a couple times when a storm hit and we're now putting a new roof on. I've always liked to have a big cushion in the bank so I'll probably save for another month or so before getting my buying shoes back on.

[beshannon]

Originally Posted by cop414

If you're struggling with the decision then I'd say that it's not the right time.

The only correct answer

Does not matter what anyone else does

[Racerdj]

Originally Posted by cop414

If you're struggling with the decision then I'd say that it's not the right time.

My thoughts too.

[Roller07]

My bank account tells me when I am ready to "afford" the next Rolex.

[kilyung]

I'm always ready but timing is everything.

[Balsquat]

Buying only on special occasions helps me keep things in line. Not sure if that works for you though. Keep in mind this can backfire if you ever want to downsize the collection as sentiment can get in the way.

[fullcourt]

Originally Posted by MonBK

I check my bank statement, if there's money there I buy.

^^^^this

[up2nogood]

It's all about disposable income. If it ain't there, you should not buy.

[sco]

In another thread I said something that my dad says all the time when we see something nice. "All it takes is money". Well some people here took that very defensively. But... It's true! I'll assume those that have very high end collections I.e. Several gold Rolexes have worked very hard to get where they got. In all reality if someone robbed a bank, trust fund, etc. they could achieve the same collection minus all the hard work. So, again all it takes is money and some members here obviously have quite a bit. Try not to compare yourself to the guy that has a turbo s, 911, a racing Porsche, at least three gold Rolexes and a platinum. It's not easy to keep up with these "joneses."

With that said, don't buy until you know you are ready, it's just a watch... Right?

[tkerrmd]

Originally Posted by Joey_V

I don't know about you guys but it's a struggle for me to know when the right time is to buy the next Rolex based on affordability.

I've been eyeing the RG Daytona for so long but still have yet to pull the trigger.

Meanwhile I see some guys like Tom and Ken pulling triggers on the Platona... sick!!

Higher level honchos for sure.

I don't know, just wanted to vent. Though I'm sure many others feel this way.

Joey I struggle with every watch I buy mostly because I think of what else (better, smarter) I could do with the money. none are bought on impulse, all coldly calculated and all with a lot of what ifs going on

but in the end when I can swing it, justify it (really never can) I do it and enjoy the hell out of it and tell myself well worst case senerio is I have to get rid of it at some point but hope not to

It is a hobby and an enjoyment, if it causes anxiety then it aint fun or enjoyable

And remember a lot of the fun is the planning and hunt for the watch, more like the ole its a journey not a destination!!

well that probably makes no sense but I tried

[up2nogood]

Originally Posted by sco

Try not to compare yourself to the guy that has a turbo s, 911, a racing Porsche, at least three gold Rolexes and a platinum. It's not easy to keep up with these "joneses."

Dude, that's out of line.

[SaddleSC]

Originally Posted by cop414

If you're struggling with the decision then I'd say that it's not the right time.

Excellent advice...wise words!

[diver2012]

Originally Posted by up2nogood

Dude, that's out of line.

[Ector495]

We have it all budgeted - enough money goes to needs - enough for investments - RRSPs - kid's education- emergency fund - then there's the blow money -- when the blow money account is getting too heavy - impulse buys tend to eat it up...if there's a watch I'm eyeing...then the blow money account has to be able to support it...

no money from any other account is ever taken for luxury/frivolous purchases..[/QUOTE]

Sounds like the Dave Ramsay class the fiancé and I took not too long ago.

[Danny83]

Originally Posted by tkerrmd

joey i struggle with every watch i buy mostly because i think of what else (better, smarter) i could do with the money. None are bought on impulse, all coldly calculated and all with a lot of what ifs going on

but in the end when i can swing it, justify it (really never can) i do it and enjoy the hell out of it and tell myself well worst case senerio is i have to get rid of it at some point but hope not to

it is a hobby and an enjoyment, if it causes anxiety then it aint fun or enjoyable

and remember a lot of the fun is the planning and hunt for the watch, more like the ole its a journey not a destination!!

Well that probably makes no sense but i tried

x2

[Miguel Alvarez]

Got to echo the comments of "could always do something better with the money". I haven't put myself in debt for anything and nothing has been bought at the expense of the usual priorities but if I'm being honest with myself I don't need such an expensive watch. Same could be said for a lot in the house and on the driveway I guess.

But yes make sure all bills are covered first then you're at least on the way there.

[jjnd08]

You could always stick with Suze Orman's rules. You must max out retirement accounts, have no debt (except a mortgage and maybe a 3 year max car note), 8 month emergency fund, and all other expenses accounted for. Once you have that, you can spend no more than 10% of your cash on hand (cash past 8 month emergency fund) on a single item purchase.

[iazrollie]

I buy new one, only when I could afford to buy a replacement of this one was lost (ignoring insurance for this hypothetical scenario). In other words, you should be 2x covered.

[SUPERDOC]

Originally Posted by Miguel Alvarez

Got to echo the comments of "could always do something better with the money"..

Yeah...I used to wonder about that...Thinking wow what would I do with the money that I'd save if I hadn't bought watches...

You know what the answer was.... it was that I'd buy watches...

There's nothing else I'd rather do with my blow money.

[AK797]

I only spend investment income on watches and with interest rates so low at the moment I would rather have the money on my wrist and enjoy it every day than in a dark bank account. And as I never pay retail I know worse comes to worst I can always sell them and get most of my money back.

[ejvette]

I find if im stuggling to make the next payment on my Bentley I will usually wait a month for my next watch

[vman]

Originally Posted by jjnd08

You could always stick with Suze Orman's rules. You must max out retirement accounts, have no debt (except a mortgage and maybe a 3 year max car note), 8 month emergency fund, and all other expenses accounted for. Once you have that, you can spend no more than 10% of your cash on hand (cash past 8 month emergency fund) on a single item purchase.

This.

Seriously, it is all about disposable income after you deduct all the possible and anticipated expenses. Here is the formula for me:

- Debt free (except for mortgage)
- 8-12 months in an emergency fund
- Cars have gone through all the major services for the year
- Major travel for the year has been paid off
- Retirement account have been maxed out
- Mid-term investment accounts have been maxed out
- Presents have been purchased for major occasions

[Angrypuppy]

I have a few SS watches. Their are a few precious metal watches I would like, although I would not call them grails.

I could not feel more fortunate to have what I do. I'm truly blessed to have a healthy family, a great wife and a few people in my life that I call a friend.

Comparing yourself to others is a losing battle. I enjoy seeing all the great watches in the incoming threads and have never felt that I'm a lower status on TRF because all I have are SS watches.

[Chewbacca]

never overextend for a watch.