# **As Nicely As Possible** How Do You Afford These Watches? Give Me Your Story



## What You Seek

Preface: I'm not trying to be snide, Im merely curious

I more often than not see people with a fairly large collection of watches on this forum. Almost all of the time they have at least 1 or 2 expensive watches (I consider expensive anything over 1500$ish). Sometimes I see people with vast collections of luxury watches (I consider 3500$ and up)



Is WUS just full of successful people? How do you afford all of these pieces? Give me your story



Take it with a grain of salt, Im a 17 year old Suburban kid with a part time summer job, so obviously I am not a functioning adult that gets to choose how he spends his money.


----------



## aardvarkbark

Mostly favorable tax treatment of capital gains, but as we hurtle toward the fiscal cliff, I don't imagine that will remain in its present form for very much longer.


----------



## napel

If you want to play with the big boys you have to work hard and save to buy big toys. Most people here are professionals between the ages of 25 -45 and have college educations.


----------



## pukematrixx

i have a very modest collection to many. I'm 30 so I figure I still have some time to acquire the remaining time pieces I desire (only 3 left!). Here is what worked for me and the advice I give to everyone who is around your age. Let me preface this by saying it's only what has worked for me so my perspective is skewed by what has worked for me so you have to understand that.

1) The faster you realize that you can't succeed in everything you put your mind to, the better off you'll be
2) You need to find what it is your relatively decent at, and see how that aligns to jobs/careers where you can make enough money to live the way you envision living. That includes understanding the time it takes to "grind" in something and do all of the unsexy things that give you the opportunity to live the style to buy high end watches for instance
3) Work absolutely harder than anyone else. I routinely even now work more than some of our first years which is unthinkable if you are a first year. If you're not there before everyone and out after everyone in the first part of your career than your wasting it. I would routinely spend the work day interacting with my more senior co workers and learned about everything they did, what worked and what didn't. I would then tend to do my actual work later at night or early in the morning because I spent the main part of my day learning.
4) When you're in career you need to find the aspect that you are most interested in (e.g. what engages you) and has the most upside. I'm in a niche in banking and I happen to chose this niche because my skill set was different than others but that it was in high demand in this area particularly, so that's where I've made my digs.
5) The most important thing is to put yourself out there and push your own edges. If you're not naturally a friendly guy, make yourself the most outgoing guy in the office. If you don't naturally take risks take a bunch of them.


----------



## What You Seek

Thanks for your advice


----------



## Appljaxx

Get a large limit credit card and pretend you are a politician: republican or democrat doesn't matter.


----------



## Ozy

I bust a hump. I have a modest collection compared to some, with a family to support, but when I want something...heaven help the brick wall infront of it.


----------



## Omjlc

Hard work. After 6 years of university and 8 or so years working as a lawyer, I finally got my first real watch at 34.


----------



## Outlawyer

Watches don't HAVE to be expensive to be satisfying. Fortunately neither do cameras, motorcycles, guitars, pianos, and women.


----------



## Roller.959

What You Seek said:


> Is WUS just full of successful people? How do you afford all of these pieces? Give me your story.


Here are a few things I always try to do with regards to money, success, and luxury purchases.

1. Run a personal budget, and always run 5 to 10 percent in the black. This is inclusive of ALL expenditures: mortgage (or rent), debt payments, investments, etc.
2. Never run a credit card balance. I use my CC like cash. If I don't have the money in the bank, I don't use the card.
3. Pay yourself first. I do not spend one dime until my retirement accounts and mid term investments are fully funded. Investments > Insurance > Mortgage > Auto > the other BS
4. Do not tempt yourself with purchases you can't afford.
5. Never make an impulse buy. Sleep on any purchase that is not yet budgeted.

Those are the principles. The rest should be (but frequently is not) common sense.

Work very hard. 
Never say, "I deserve..." You do not deserve anything, you are never entitled, you earn it. 
Do not expect anything to be done for you or to "just happen." 
Avoid, but do not be intolerant of failure (read: Teddy Roosevelt, _The Man in the Arena_). 
Be intolerant of complacency.
Be critical of yourself.
Know that the end result is what matters. If you fail, the "why" is largely irrelevant. (In other words, don't waste your time delivering or accepting excuses.)

My opinion...it has helped me reach whatever relative level of "success" I currently enjoy. Put it all together, and that is how I have come to own the watches I own, which are not nearly as "blue chip" as some of the others here.


----------



## GETS

A lot of great advice here most of which I might only be repeating.

1) I think hard work is number 1. Unless you're lucky to have inherited or won a lot of money then hard work will normally come into it. Of course lots of people work hard so the next trick is as follows:

2) Never turn down the opportunity to learn and develop. If you don't invest in yourself then don't expect anyone else to.

3) Get into an industry that pays well (by qualifying ethically in whatever way necessary) or work for yourself. Preferably the latter.

4) Prioritise where you spend money. I made sure that I owned the house I lived in - was debt free - had a good cash position (which I have ringfenced) BEFORE starting to treat myself. A lot of people on here will have followed the same process before indulging in luxuries - which would have been the same kind of common sense that would have made them money in the first place.

5) Learn to temper your ambition with patience. If you're lucky it will be a long life.

6) Don't spend what you don't have. Like Roller said - try and use your credit card as a convenience only. If you can't pay the bill at the end of the month then don't use it.

7) If you want to enjoy the fruits of your hard work (houses, cars, watches, women) then don't s**t on people on your journey. Not only will you like yourself more - you'll also have the safety net called "friends" to catch you if you fall.

Regards,


----------



## Dancing Fire

What You Seek said:


> Is WUS just full of successful people? *How do you afford all of these pieces?* Give me your story


bread and water for dinner for the past 20 yrs...;-)


----------



## Wound Up

I work in big Pharma (salary, bonus, stock grants, deferred compensations, pension).

Invest in yourself (i.e. at least one grad degree and not in music history).

If you are not the entrepreneur type, seek out a real growth industry and target the cool companies (I went into Biotech in the 80s).

Add income streams (I got into rental property in Boston and folks have to pay a lot for a roof over their head and a place to pahk the cah).

Save and invest (look for great management. Airgas is a fun example).

Buy a home early in life if it makes sense (a fixed rate loan will allow you to essentially fix your cost of living and as you move up the ladder, you will have much more income to save).

Being married to another professional makes a big difference.


----------



## Connoistre

- No Kids
- No College debt
- Don't spend much on anything else
- Own my own business and have been in my profession for over 10 years
- Wife makes good money also

All this adds up to disposable income for luxuries.


----------



## BreitlingAggie

I'm 27 years old, I graduated with a 2.6 GPA from Texas A&M University in 2007 with a degree in Business Marketing (definitely not too sterling of a Pedigree), and while I'm not 'rich' I'll make a little over $200,000 this year. My advice for a young guy like yourself is this: If you are at all outgoing, unafraid to meet strangers, and very motivated, consider a career in Professional Sales. I'd recommend selling drilling equipment (what I love), but really it can be anything, several of my friends sell chemical abrasives, HVAC equipment, Medical devices, etc etc. Sales is the great equalizer, if you can sell (with the right company, and the right superiors) you'll get noticed and the sky is the limit. I was a regular ole Sales Rep for 4 years before moving into Sales Managment, and I have to say I love the visibility of sales, when you do well; you know it, and everyone else does because everyone can see the dollars your accounts generate.

HOWEVER, it is a very tough life. I'm married with kids and I travel about 5-6 months out of the year. Some places are nice: Perth, Toronto, Cape Town, Las Vegas, Moscow, Dubai etc etc. Some are okay: Santiago, Lima, Johannesburg, etc, and some are downright awful: Warri, Nigeria; Ulan Bataar, Hassi Messaoud. It's worth it to me because my wife gets to stay home with the kiddos, but it does take a toll on you. When you're young and single, it's an awesome lifestyle. 

Maybe some of you guys are smart enough to make money as Doctors, Lawyers, Engineers and Entrepreneurship, but as for my advice; Business to Business Professional Sales all the way!


----------



## napel

BreitlingAggie said:


> I'm 27 years old, I graduated with a 2.6 GPA from Texas A&M University in 2007 with a degree in Business Marketing (definitely not too sterling of a Pedigree), and while I'm not 'rich' I'll make a little over $200,000 this year. My advice for a young guy like yourself is this: If you are at all outgoing, unafraid to meet strangers, and very motivated, consider a career in Professional Sales. I'd recommend selling drilling equipment (what I love), but really it can be anything, several of my friends sell chemical abrasives, HVAC equipment, Medical devices, etc etc. Sales is the great equalizer, if you can sell (with the right company, and the right superiors) you'll get noticed and the sky is the limit. I was a regular ole Sales Rep for 4 years before moving into Sales Managment, and I have to say I love the visibility of sales, when you do well; you know it, and everyone else does because everyone can see the dollars your accounts generate.
> 
> HOWEVER, it is a very tough life. I'm married with kids and I travel about 5-6 months out of the year. Some places are nice: Perth, Toronto, Cape Town, Las Vegas, Moscow, Dubai etc etc. Some are okay: Santiago, Lima, Johannesburg, etc, and some are downright awful: Warri, Nigeria; Ulan Bataar, Hassi Messaoud. It's worth it to me because my wife gets to stay home with the kiddos, but it does take a toll on you. When you're young and single, it's an awesome lifestyle.
> 
> Maybe some of you guys are smart enough to make money as Doctors, Lawyers, Engineers and Entrepreneurship, but as for my advice; Business to Business Professional Sales all the way!


Only in Texas can you smoke dope, pack guns, travel the world have average grades and still be a millionaire. THANK YOU OIL INDUSTRY :-!


----------



## TDF

Wound Up said:


> Being married to another professional makes a big difference.


Or don't get married. Being a single 54 year old telecom engineer, I have some loose change and can spend it on what I want. ;-)


----------



## Flurrpy

Trade your folks in for rich ones.


----------



## saintsman

_I'm not rich by any means, but I do have a comfortable lifestyle. However it took me a long time to get there because I didn't realise how easy it was to get a high paying job. I was under the misaprehension that people in high paying jobs must be more intelligent than me. This is not the case. I'm not stupid by any means and of course there are plenty of people more intelligent but I didn't believe that I was capable of earning anything more than an average wage. It took a friend who managed to get a job paying double what he was earning to show me the way. It was still a difficult decision to leave the job I had - reasonably well paid and one that I really enjoyed, but I took the plunge and have not looked back. I now believe in myself much more and know that I can hold my own against most of my colleagues. I now earn more than I ever thought I would and I do it with ease.

At 17 you don't know everything (although my teenage daughter apparently does...). Go out and learn, be willing and helpful and you will be rewarded. You can achieve what you want if you know your stuff. You are only held back by self doubt. _


----------



## emmanuelgoldstein

To break it down into its simplest terms. Work hard and play hard. Attend college and make some connections while you are at it. I used to attend as many alumni functions as I could. It doesn't hurt to have friends in high places. However, having your financials and family life in order is more important than the toys you own.


----------



## drthmaul

Excellent thread.


----------



## Tick Talk

I think our OP is a psychology student mining a rich trove of bourgeoisie motivations (in the original non-perjorative sense of the word) ;-)


----------



## Roller.959

Tick Talk said:


> I think our OP is a psychology student mining a rich trove of bourgeoisie motivations (in the original non-perjorative sense of the word) ;-)


Come on! Way to ruin it! Here I am actually encouraged that a 17 year old in the US is actually seeking to build a modicum of fiscal responsibility and economic social consciousness, all the while hoping that it is motivated by his peers' and big government's examples of what not to do.

Hope fading...fading...fading...lost.


----------



## G-F

On top of all the good comments so far, I'd suggest, try reading Rich Dad, Poor dad. Lots of stuff I figured out over the years. Reading the book at 17 would have helped me figure them out lot sooner.


----------



## Ridly

I set aside a part of my salary every month. Then when I can afford it, I strike. Wash, rinse, repeat. It's that easy. Discipline.


----------



## What You Seek

Tick Talk said:


> I think our OP is a psychology student mining a rich trove of bourgeoisie motivations (in the original non-perjorative sense of the word) ;-)


Nope, just a high school student trying to get as much information from experienced people as possible


----------



## What You Seek

Roller.959 said:


> Come on! Way to ruin it! Here I am actually encouraged that a 17 year old in the US is actually seeking to build a modicum of fiscal responsibility and economic social consciousness, all the while hoping that it is motivated by his peers' and big government's examples of what not to do.
> 
> Hope fading...fading...fading...lost.


I just think that its silly that 17 year old kids use their money on such temporary items (cars, booze, drugs, ect.) while I can get something I really cherish and enjoy for the rest of my life.


----------



## Roller.959

What You Seek said:


> I just think that its silly that 17 year old kids use their money on such temporary items (cars, booze, drugs, ect.) while I can get something I really cherish and enjoy for the rest of my life.


Hope returning...returning...returning...regained.

Not a bad way to look at it, just make sure you have money making you money first. Good Luck!


----------



## cs12

I didnt buy any of mine until I was 37/38.

I bought them using money from my FT job.

I wouldnt have thought of buying any of the watches I own now when I was 17.


----------



## G-F

Another advice to the OP, it's always a good idea to buy used. Let someone else absorb the initial depreciation. I only bought one or two used watches ( I tend to love new models and can't wait when there's someting I like). But whenever possible I consider the pre-owned market.


----------



## Donut

I worked hard at a minimum wage job, put in way too many hours and took very few days off. I stuck with it for a long time and didn't start getting into watches until all of my responsibilities were paid off. No education, working grunt work at any time of the day or night....sometimes around the clock. On my 14th birthday I got a job picking up garbage at a Donut Shop....many years later I still have to pick up garbage at a Donut Shop....I just wear a much nicer watch when I do.


Follow the advice of other people here and get yourself a good education....my son is 15 years old and I want nothing more for him than to get a very good education, life can be so much easier if you can earn with your mind and not your back.


Good luck.


----------



## Roller.959

Donut said:


> I worked hard at a minimum wage job, put in way too many hours and took very few days off. I stuck with it for a long time and didn't start getting into watches until all of my responsibilities were paid off. No education, working grunt work at any time of the day or night....sometimes around the clock. On my 14th birthday I got a job picking up garbage at a Donut Shop....many years later I still have to pick up garbage at a Donut Shop....I just wear a much nicer watch when I do.
> 
> Follow the advice of other people here and get yourself a good education....my son is 15 years old and I want nothing more for him than to get a very good education, life can be so much easier if you can earn with your mind and not your back.
> 
> Good luck.


Dunkin, Krispy, or Horton family?


----------



## emmanuelgoldstein

Roller.959 said:


> Dunkin, Krispy, or Horton family?


I would say Dunkin if we're guessing. Probably a few hotels in the mix also.

Sent from my mobile device using Tapatalk


----------



## Ddc1974

Have my own business doing relatively Well.
Have a hard working business partner.
Work hard myself.
My wife is really conscious about spending so she is my best way to save money.
Studied a lot and harder than most (graduated 2nd on undergrad and went to Cornell for my masters degree with a full tuition scholarship).

But most importantly, be patient (I started to make REAL money @ 34, before that I lived well but day to day), I am 38 now. Also don't be naive, follow your dreams but take full advantage of situations that are favorable to you, there is plenty of time in life. ie I am an architect , love teaching and research but live in a country that is undergoing a construction boom, so I went and created a real state and construction company and partnered with an expert in construction... Because there is where the money is,...


----------



## Donut

Roller.959 said:


> Dunkin, Krispy, or Horton family?


I am Canadian, so it's gotta be Tims...here is where I pick up garbage these days...










Picture taken the day before we opened.

Cheers,
Rob


----------



## johnperregaux

I supplement my current job with a side business. You will see that extra income is needed for timepieces


----------



## ZachB

Don't have children, focus on having good credit, and take advantage of 12 months same as cash. =)


----------



## EdPowers

Live below your means (spend less money than you make) and save, plan, and anticipate the extravagant purchases. Most watch lovers collections take a long time to build. It took 10 years for me to step up from my first to second mechanical watch. I prefer quality over quantity and it's worth the wait to get the watches you dream of season after season long after the current fads change. Keep in mind the watch designs really worth having stay in production for a long time.


----------



## tifosi

Connoistre said:


> - No Kids
> - No College debt
> - Don't spend much on anything else
> - have been in my profession for over 10 years
> - Wife makes good money also
> 
> All this adds up to disposable income for luxuries.


This is my method! (Besides owning my own business).


----------



## Appljaxx

I make good money; I also married an engineer. 2 solid incomes and a small house make a huge difference.


----------



## MattyS

I think the key to earning a good living is to develop unique skills. Make yourself good at something that other people are unwilling to do. For me, it was mathematics and statistics; for my wife, it was physics and engineering. It was not easy for either of us, and I imagine our college years would have been much more enjoyable reading novels and studying philosophy. People enjoy what they are good at, get good at math and you'll enjoy it.

One other thought: I read a book on cognitive science this past summer. The author wrote, what many people think is intelligence is actually the ability to do sustained hard work. I think that is a great thing to remember.


----------



## Tick Talk

MattyS, your comments remind me of a recent media story. A renowned university professor announced his imminent retirement and was surprised to be inundated with students requesting one last bit of advice; what should they do for a career? His reply was consistent - find something you enjoy and become very, very good at it. If you are good enough, the work will come to you and you will reap the benefits of making a good living at something you actually wish to do!

LOL, this is a long way from believing the luxuries we consume compensates for the frustrations of less intrinsically-motivated, often accidental, careers.


----------



## NWP627

Live longer than your creditors.


----------



## Outlawyer

Credit extension has only become another lender racket. The reward for living within your means, buying only what you can afford, is a "no credit" rating, which is viewed by lenders as synonymous with "bad credit." So, borrow or be ostracized!


----------



## sheon

I'm a doctor and I'd advise the OP to study as hard as he can. Certainly worked for me.

The other piece of advice is what someone's dad told her (i forget who; it was reported in the papers): once you start working, don't be too concerned over your salary. concentrate more on the work. if you work hard and your boss likes you, the money will come.


----------



## jpohl402

BreitlingAggie said:


> I'm 27 years old, I graduated with a 2.6 GPA from Texas A&M University in 2007 with a degree in Business Marketing (definitely not too sterling of a Pedigree), and while I'm not 'rich' I'll make a little over $200,000 this year. My advice for a young guy like yourself is this: If you are at all outgoing, unafraid to meet strangers, and very motivated, consider a career in Professional Sales. I'd recommend selling drilling equipment (what I love), but really it can be anything, several of my friends sell chemical abrasives, HVAC equipment, Medical devices, etc etc. Sales is the great equalizer, if you can sell (with the right company, and the right superiors) you'll get noticed and the sky is the limit. I was a regular ole Sales Rep for 4 years before moving into Sales Managment, and I have to say I love the visibility of sales, when you do well; you know it, and everyone else does because everyone can see the dollars your accounts generate.
> 
> HOWEVER, it is a very tough life. I'm married with kids and I travel about 5-6 months out of the year. Some places are nice: Perth, Toronto, Cape Town, Las Vegas, Moscow, Dubai etc etc. Some are okay: Santiago, Lima, Johannesburg, etc, and some are downright awful: Warri, Nigeria; Ulan Bataar, Hassi Messaoud. It's worth it to me because my wife gets to stay home with the kiddos, but it does take a toll on you. When you're young and single, it's an awesome lifestyle.
> 
> Maybe some of you guys are smart enough to make money as Doctors, Lawyers, Engineers and Entrepreneurship, but as for my advice; Business to Business Professional Sales all the way!


Good for you bud!
And I'm jealous of the travel....


----------



## christianj

I was raised by parents that taught me to live within your means and also to save. After my parents divorced, my mom was a hard working single parent that still felt it was important to work hard but also to have nice things. Neither of my parents ever liked credit cards and if they did have them they were paid off every month.


I must have learned all of this from them because I live very similarly today. I've got a great job that I truly enjoy and get paid well for. I use credit cards (I'm a big frequent flier and hotel points guy but that is another story and hobby of mine) but I pay ALL of them off monthly. The only real credit/loan I have is a mortgage on a house that is not as large or extravagant as one I could afford with my income. Like others have mentioned previously, I fully fund my retirement accounts every month and I have a fixed portion of my salary put automatically into a bank account at another bank (not my primary bank so I'm not tempted to transfer the funds to my normal account.)

So how do I buy watches? First, NEVER buy a watch you cannot afford and will need to pay off. Second, save for a special purchase. I make sure I have enough money in a reserve fund and then I consider funds above that my "watch play fund." I also sometimes buy used and I also sometimes sell less expensive watches to help fund my next more expensive purchase.


----------



## Mr. Orlando

Man, there are some jewels of knowledge in this thread. I'm a 26 year old college grad in the beginning of my career. I could learn a lot if I just shut up and listen to the guys who wear Rolex's.

Salute.


----------



## GETS

Mr. Orlando said:


> Man, there are some jewels of knowledge in this thread. I'm a 26 year old college grad in the beginning of my career. I could learn a lot if I just shut up and listen to the guys who wear Rolex's.
> 
> Salute.


I would widen your choice of advisors personally.

Regards,


----------



## malarky_hk

Great thread. Some very good nuggets of wisdom being shared!


----------



## johnperregaux

Mr. Orlando said:


> Man, there are some jewels of knowledge in this thread. I'm a 26 year old college grad in the beginning of my career. I could learn a lot if I just shut up and listen to the guys who wear Rolex's.
> 
> Salute.


Lol don't listen to the Rolex wearer. Listen to the Patek , VC, JLC or UN wearer. That is some REAL knowledge.


----------



## emmanuelgoldstein

johnperregaux said:


> Lol don't listen to the Rolex wearer. Listen to the Patek , VC, JLC or UN wearer. That is some REAL knowledge.


Don't forget about the Lange or Journe wearers.

Sent from my mobile device using Tapatalk


----------



## agong

Very valuable thread. Hope this thread could save many from trapping themselves with loads of credit bills due to their passion for watches. 

Sent from my GT-I9300 using Tapatalk 2


----------



## Perfect Blue MD

I've seen many similar threads asking the essential question of "how do you have enough disposable income to afford very expensive luxury items?", but I think the OP has a slightly more optimistic tone to his question- perhaps more along the lines of "how are you able to afford the things that bring you joy?"

My story is simple- BS and BA from the University of Wisconsin, MD from the University of Alabama at Birmingham, with 80-100 hours of work each week along the way. Now I've started my watch fund with a small amount of my income.

1. Happiness in life comes from relationships, plain and simple. My fondest memory of my wedding was not the $1000 watch I received as a gift- it is of my family, friends, and beautiful new wife. Family and friends are what provide a lasting sense of fulfillment in life.
2. It has often been stated that the three things needed for satisfaction with one's job are some degree of autonomy (this is why everyone says to go into business for yourself), the ability to have unique or creative experiences (ie: doing the exact same thing every day is not enjoyable), and some correlation between effort and reward (EG: you work 10 hours/week more than the other guy, you get promoted faster).
3. Having disposable income to spend on luxury items involves 1) Acquiring money and 2) Being responsible with your money. Jobs that are frequently high earners include business, corporate sales, IT, Engineering, Applied Chemistry/Biochemistry/Microbiology (EG: Working for Kraft in the cheese processing lab), or small business owners with good ideas. Professions are also high earners, including physicians and lawyers. The one thing that you will note is that all of these options require either an advanced education (MS/MBA or higher) or an excellent/unique idea (business, sales) plus the willingness to work very hard. Life will present most people with some opportunities for success, but you must be ready to seize the moment by working harder than everyone else while being kind to people along the way. 
4. There are several posts with more in depth ideas for being fiscally responsible, but the bottom line is that patience is a virtue. Never buy anything on credit unless you have money to pay the bill, and only buy luxury items items with the money specifically designed for that. I designate around 7% of my income as disposable, and I never go over that. With firm limits, it allows me to have money left in the bank for when life sends a bad day your way (EG: blowing a tire on the side of the road = instant $500 fee). Again, patience is a virtue. Keep in mind that you are 17. Some people on these forums with nice Patek's or ALS's or JLC's have been saving money since they turned 20 and started working, and they are now 40. That's not that old, right? It still means that they have been diligently saving and being responsible for 20 years- longer than you have been alive.

Anyway, cheers to OP. Happy to see this thread of excellent responses.


----------



## hvgotcodes

My perspective is a bit different. Almost anyone can acquire a 10-15k watch, if they really want it, in a financially responsible way. IMHO, that means maxing out your 401k, plus saving at least that amount, and then putting aside anything left over for what you want. If you blow money on a watch without saving for a rainy day or retirement, you are making a mistake. Many have said always pay your credit cards in full, and that is great advice. However, for the true gems, the ALS or PP that costs 50-100k or more, there is no way way to afford those, other than to make or otherwise acquire a crap-ton of money. It's that simple. There is no dressing it up, deluding oneself about this, so don't fall into that trap. Studying and working hard are generally a good idea, and if you do those things you will probably be well-off in life, but there is no guarantee that they will put you in a position to drop 100k on a platinum PP perpetual calendar. Since I don't know how to get myself a really high end watch (I say that being in the top 2%, without considering the wife's income), I don't have an answer, but I'm looking for one. If I figure it out, Ill let you know. It'll probably involve starting my own business....


----------



## Dancing Fire

Mr. Orlando said:


> Man, there are some jewels of knowledge in this thread. I'm a 26 year old college grad in the beginning of my career. I could learn a lot if I just shut up *and listen to the guys who wear Rolex's*.
> 
> Salute.


not a good idea...;-)


----------



## emmanuelgoldstein

johnperregaux said:


> Rolex guys usually are fat slobs who drink beer on golf courses. lol


I don't know about that. I have several modern and vintage Rolex watches. I exercise regularly, and have never been on a golf course. I do however like gin and bourbon

Sent from my mobile device using Tapatalk


----------



## Appljaxx

Perfect Blue said:


> (EG: you work 10 hours/week more than the other guy, you get promoted faster).


While I agree with almost everything you said, I would phrase this as, "produce 10% more than your peers."

Which is why an hourly wage for a high performance individual becomes unacceptable in most circumstances. Jobs that offer you pay that reflects your ability to produce are often the most rewarding to awesome people.

I only say this because I've worked with people that work 10 hours more than me and still can't catch up. At one point my boss (at the time) asked me why I wasn't working more hours. I asked him why the other individuals were not performing in the top 1%. When you work, WORK. When you play, PLAY.

Most important: love what you do and surround yourself with awesome people.


----------



## Devray

G-F said:


> On top of all the good comments so far, I'd suggest, try reading Rich Dad, Poor dad. Lots of stuff I figured out over the years. Reading the book at 17 would have helped me figure them out lot sooner.


Completely agreed.... Not all of the things in the book are applicable but it did give me a very interesting perspectives.

Sent from my iPad using Tapatalk HD


----------



## Paolo B

What You Seek said:


> I just think that its silly that 17 year old kids use their money on such temporary items (cars, booze, drugs, ect.) while I can get something I really cherish and enjoy for the rest of my life.


Experience is important, though. That's also something you'll have for the rest of your life. Can't comment on drugs but I wouldn't be the person I am now if I didn't have my youthful drunken moments, mistakes, courage etc. and a car to make sure I got where I wanted to get to. Probably at 17 it's not such a big deal but you don't get any points for picking up your date on foot and getting to a nice restaurant using public transportation.



johnperregaux said:


> Rolex guys usually are fat slobs who drink beer on golf courses. lol


Sorry, do you actually know any Rolex owners? In my experience this has not been the case.

Some really like watches and think Rolex makes a good one.

Some like watches enough to want a good-looking automatic that they don't need to baby but don't want to spend time researching the other options.

Some aren't interested in watches but wear it for business.

None of them are fat slobs, although you may be right about the golf course and the occasional alcoholic beverage.


----------



## Simons194

johnperregaux said:


> Rolex guys usually are fat slobs who drink beer on golf courses. lol


Not that the comment is a completely stupid and moronic generalisation of any one that wears a Rolex...some of us own more than jut a Rolex and I,m not fat and don't play golf ....blimey I,m surprised I could type that with these enormous fat golf playing, beer swilling fingers...


----------



## Paolo B

I notice there's been a lot of Rolex hate recently. Aesop must have been on to something.


----------



## Ddc1974

Simons194 said:


> Not that the comment is a completely stupid and moronic generalisation of any one that wears a Rolex...some of us own more than jut a Rolex and I,m not fat and don't play golf ....blimey I,m surprised I could type that with these enormous fat golf playing, beer swilling fingers...


I agree I actually know a lot of Rolex owners and not one plays golf and most likely whiskey is their drink of choice . Jokes aside, Rolex is an excellent timeless brand, my only gripe with it is that is has become, next to BMW a yuppie brand of choice...at least in my country....

Sent from my iPad using Tapatalk HD


----------



## copperjohn

Simons194 said:


> Not that the comment is a completely stupid and moronic generalisation of any one that wears a Rolex...some of us own more than jut a Rolex and I,m not fat and don't play golf ....blimey I,m surprised I could type that with these enormous fat golf playing, beer swilling fingers...


He was probably talking tongue in cheek. But I have a Rolex, I drink beer, wine, or whiskey. And coffee. Almost every day. And I golf (golfing is not a word). I also weigh about 210 and am only 5'8". But I have worked out almost every day since I was 14, and have a 34 inch waist, to give some perspective. Everything in moderation.

To the original question, I saved up two years in my watch fund for my original WIS watch, the Bond GMT. Traded that for the Speedy. Saved up to years for the PO. For the Sub I used a little credit. You see where this is going. Its not only about income, but also about desire tempered with some financial responsibility.


----------



## Paolo B

copperjohn said:


> He was probably talking tongue in cheek.


I wish he was, but tongue-in-cheek kinda guys don't normally follow up their tongue-in-cheek statements with "lol". There's me generalizing lol



copperjohn said:


> But I have a Rolex, *I drink beer, wine, or whiskey. And coffee. Almost every day*. And I golf (golfing is not a word).* I* also *weigh about* *210* and am only 5'8*"*. But *I have worked out* *almost every day since I was 14*, and have a 34 inch waist, to give some perspective. Everything in moderation.


No wonder you're called Copper John! I'd be more like Putty Paolo... let's just say it's been a while since those biceps felt a barbell.


----------



## Simons194

I guess you are right and it does look like a reaction to a tongue in cheek comment , however it's a big wide world and people should be allowed to wear what they like without being given a label . For most of us the enjoyment of watch collecting is the endless diversity of choice . For me it's a passion and fascination I have had since a kiddy an I am now able to indulge through some hard work and common sense money management.


----------



## NielsZ

Very nice thread I must say. Being a 20 year old economy student advices like these are quite useful! Enjoy your well earned watches in the best of health guys (in 2013 and many years to come).


----------



## mongol

Lots of admonishment here to "work hard". But what does that actually mean, specifically?


----------



## GETS

mongol said:


> Lots of admonishment here to "work hard". But what does that actually mean, specifically?


"Admonishment" - to rebuke someone mildly but earnestly? I don't think that is the correct word - more advice I would say.

I also think working hard is just one piece of advice that has been given alongside a lot of other things like:

Study
Working smart
Work for yourself (if possible)
Financial prudence
Financial goal setting
Medium to long term goal setting (don't spend and simply live for today).
Plus lots of other good stuff.

The definition of working hard is obviously a personal thing which each individual would have to define for themselves. Safe to say in some parts of the World some people dig the floor with their hands for 18 hours a day and can barely afford to eat. So hard work alone is not only a personal thing but also has to be matched with opportunity, where you live and whole boat of other things.

Regards,


----------



## mongol

Actually did look it up before posting, websters had this as one definition for admonish:

"2 : to give friendly earnest advice or encouragement to"


----------



## GETS

mongol said:


> Actually did look it up before posting, websters had this as one definition for admonish:
> 
> "2 : to give friendly earnest advice or encouragement to"


Fair enough. Let's not get too deeply into sematics, but I can assure you that in every day parlance the word "admonish" is normally used as a rebuke of some kind (no matter how earnest or gentle).

Anyway - I replied to your post. Is that all you have to say or would you like to share some of your own thoughts? They would be most welcome.

Regards,


----------



## fareastcoast

mongol said:


> Lots of admonishment here to "work hard". But what does that actually mean, specifically?


It means work 14 hour days with no weekends for months on end if that's what it takes to get you to the next level of achievement.

And of course, don't get so caught up in the work that you miss the big picture and forget about the long term strategy.


----------



## copperjohn

mongol said:


> Lots of admonishment here to "work hard". But what does that actually mean, specifically?


It means set goals and actively strive towards meeting them. And not waiting, passively, for things to be handed to you.

At least, that's my perspective.


----------



## Illuminati01

A very wise man once told me that it's not your fault if you were born poor. Yet, marrying poor is.

I'd wish to met this man earlier in my life....  

In my opinion you need luck to receive the opportunity. Hard work will make you exploit it.


----------



## Paolo B

copperjohn said:


> It means set goals and actively strive towards meeting them. And not waiting, passively, for things to be handed to you.
> 
> At least, that's my perspective.


This is true. I think it was Goethe who said that happiness is no accident and life only gives back to you what you gave to it.


----------



## AustinOX

While I don't own a watch that would qualify for this forum, the EASIEST way to earn a comfortable living is to work for the government. Minimal education requirements, excellent benefits, pension, vacation, holidays- all really hard to beat. Income opportunities are truly amazing too. You'll never get filthy rich, but you can be paid what many highly educated professionals and business owners are willing to pay themselves (without working 70 hour weeks), and live in retirement like someone who has acquired several million dollars. Like it or not, the government is only going to get bigger.


----------



## Appljaxx

AustinOX said:


> While I don't own a watch that would qualify for this forum, the EASIEST way to earn a comfortable living is to work for the government. Minimal education requirements, excellent benefits, pension, vacation, holidays- all really hard to beat. Income opportunities are truly amazing too. You'll never get filthy rich, but you can be paid what many highly educated professionals and business owners are willing to pay themselves (without working 70 hour weeks), and live in retirement like someone who has acquired several million dollars. Like it or not, the government is only going to get bigger.


True it is easier, but the cost is a lower wage for the same job. My wife is a petroleum engineer for the Feds and she makes 50-80k less than he private sector counterparts.

The trade off is all of the things you mentioned. Stability, time off, 40-50 workweek, and a retirement plan.

For non-educated professionals I'm not sure what the story is. I know there are tons of people in her office that earn 35k per year. Not enough to start a hardy watch collection if you ask me.


----------



## davidtsee

Ozy said:


> I bust a hump. I have a modest collection compared to some, with a family to support, but when I want something...heaven help the brick wall infront of it.


Haha I love the latter portion of your statement. I'm the same way and come heaven or high waters, I usually get what I want.. though sometimes I do actually have some self control


----------



## What You Seek

OP here

This has been a great thread. Keep the advice coming! I was pretty afraid I would get some harsh comments from the luxury forum but I am pleasantly surprised.

From most of what I've heard, I think I'm on the right track. My parents were generous enough to send me to a very good college prep school, and I am a hard worker.Most likely going to major in some area of business at a good university. I'm outgoing and I tend to like people and they tend to like me.

Personally, I think that this thread has taught me more about how to be fiscally successful than the typical generic responses to how to be successful. I'm not here to say that money buys happiness, but I don't think it's a crime to make something of myself in the business world. 


p.s.: Try to keep this on topic and avoid Rolex and political arguments.


----------



## avrvmadrid

Interesting thread no doubt... I'll add my own advice, using myself as an example:


1) If you marry, marry a saver. Marrying a chronic spender can ruin you (literally).


*2) Be an intelligent consumer* - Don't impulse buy. Research before you spend. Be patient. This can be applied to everything (cars, watches, clothes, restaurants, bikes, electronics, other hobbies etc).


*3) Live WELL within your means* - my fixed expenses (mortgage, utilities, food, pension) account for about 20% of my income - and I'm not a rich doctor or lawyer etc. We could afford a much bigger house, or a nicer car, but see no reason for it. This is very difficult for a lot of people.


4) Don't buy things on credit. I'm 32 and I've never had a credit card in my life (where I live credit scores are run differently). Never had to. If I want something, like a €3000 guitar or watch, or a car or motorbike (all of which I have) I wait, and save - and in the meantime I apply point 2.


4a) A mortgage is the one exception I allowed myself to the previous rule. But as with anything, rule 2 (and 3) can apply. I hope to have my mortgage paid off after 8, tops 9, years.


5) Prioritize - in my case this means my daughter > my wife > my health > basics (food, clothing, utilities, home improvement etc) > transport > leisure with my family or friends (vacations, dinner out - again always applying rules 2 and 3) and at the very very end > my whims/hobbies.


----------



## Praetorr

Wow. This has been a really eye opening thread, as a 23 year old university student. It really sounds like there's a lot of wisdom on this forum.

Makes me a little insecure, I admit, as a psychology student though. Hopefully my assumption that, while a bachelors in psych is effectively useless, a masters/Ph.D still holds some real value is correct. *gulp* *fingers crossed*


----------



## emmanuelgoldstein

Praetorr said:


> Wow. This has been a really eye opening thread, as a 23 year old university student. It really sounds like there's a lot of wisdom on this forum.
> 
> Makes me a little insecure, I admit, as a psychology student though. Hopefully my assumption that, while a bachelors in psych is effectively useless, a masters/Ph.D still holds some real value is correct. *gulp* *fingers crossed*


What's most important is having a job you love. If you have that you will find a way to start a watch fund.

Sent by carrier pigeon.


----------



## Rascasrosa

Praetorr said:


> Wow. This has been a really eye opening thread, as a 23 year old university student. It really sounds like there's a lot of wisdom on this forum.
> 
> Makes me a little insecure, I admit, as a psychology student though. Hopefully my assumption that, while a bachelors in psych is effectively useless, a masters/Ph.D still holds some real value is correct. *gulp* *fingers crossed*


I majored in psych, then earned my MA in I/O psych (I didn't want to be a therapist). While I do not work in the world of psychology, what I studied in I/O has given me an edge over my peers (business majors) because I approach situations differently, which has been recognized by my superiors. To be honest, being a big fish in a small pond has paid off. After I get more experience and make solid contacts, I hope to eventually become an independent consultant, which is where the "real" money will come from one day. Btw, undergraduate psych degrees are not completely useless IF you are really good at statistics, as that could set someone up as an entry level analyst in the business world, which can lead to bigger things down the road.


----------



## Devray

This is an interesting thread and question - in my case sometime the answer is to have a local AD in my city who offers a good discount with 12 months installment at 0%... LOL



Sent from my iPad using Tapatalk HD


----------



## lightguy

Self employed business owner here.
I collect other things such as Cars (small collection) Guns (mid size), and Pinball Machines (big collection and yes they are collectible  )
I always buy used and fully depreciated or at least thats the goal so I'm not into the latest greatest.


----------



## georges zaslavsky

Here is my advice. I inherited a big part of my collection which belang to my garnd father and great grand father. However there are intangibles taht need to be taken seriously in consideration:
1) Study hard and chose a course with lots of openings, sales can be very rewarding
2) Never to live or to be on credit. Buy when you have the money
3) No kids 
4) Prioritize your food, health, car maintenance and taxes before thinking of spending money
5) Check vintage watches they offer a lot for far less than what modern watches cost
6) Speak with qualified watchmakers and check the history of the brand you really to want to buy a watch from, it helps you to understand their philosophy 
7) Avoid Ebay by all means


----------



## Drksaint

I see quite a few members on here who have made a correlation between studying hard/graduating college, and earning money. This isn't always the case. While education is important and can help you lead a richer, fuller life, it doesn't guarantee how much money you'll earn. I have friends who are lawyers and doctors and earn average salaries of around $100k per year. And I have friends who stopped going to school in the 10th grade and earn many times that. If you don't have business acumen, you just don't have it. Having a talent isn't good enough. You have to know how to work that talent.

$5,000 for a watch is not an expensive watch. Eventually, anyone can afford it. Even the guy working in the donut shop. $100,000 for a watch is expensive. And you won't be able to buy that watch working for some one else.

The only way to have that ability is to bet on yourself and run your own business. But whatever you do in life...don't do it for the money. Do it because you love to do it....


----------



## GETS

avrvmadrid said:


> Interesting thread no doubt... I'll add my own advice, using myself as an example:
> 
> 
> 1) If you marry, marry a saver. Marrying a chronic spender can ruin you (literally).
> 
> 
> *2) Be an intelligent consumer* - Don't impulse buy. Research before you spend. Be patient. This can be applied to everything (cars, watches, clothes, restaurants, bikes, electronics, other hobbies etc).
> 
> 
> *3) Live WELL within your means* - my fixed expenses (mortgage, utilities, food, pension) account for about 20% of my income - and I'm not a rich doctor or lawyer etc. We could afford a much bigger house, or a nicer car, but see no reason for it. This is very difficult for a lot of people.
> 
> 
> 4) Don't buy things on credit. I'm 32 and I've never had a credit card in my life (where I live credit scores are run differently). Never had to. If I want something, like a €3000 guitar or watch, or a car or motorbike (all of which I have) I wait, and save - and in the meantime I apply point 2.
> 
> 
> 4a) A mortgage is the one exception I allowed myself to the previous rule. But as with anything, rule 2 (and 3) can apply. I hope to have my mortgage paid off after 8, tops 9, years.
> 
> 
> 5) Prioritize - in my case this means my daughter > my wife > my health > basics (food, clothing, utilities, home improvement etc) > transport > leisure with my family or friends (vacations, dinner out - again always applying rules 2 and 3) and at the very very end > my whims/hobbies.


Beautiful post.


----------



## heuerolexomega

A lot of great advise here. Yes you have to set your priorities, No1 your family. I have a wife and two kids. And when you add up Mortgage, private schools, Health, Retirement, education for the future of the kids, etc. It can get quite expensive. Then it can get kind of hard to find money for your personal things.

I am gonna say this, Yes plan, have a financial advisor, 401K and all that. It is important the planning but maybe even more is to "find your niche to make your money". You can have a beautiful plan, save like crazy, structure all that you want (and that's good, don't get me wrong), you will get some reward doing that but to really be up there making the big bucks you need to find your niche (your money machine). There is a great book that I recommend "Outliers" by Malcolm Gladwell. It pretty much tells you that yes you have to prepare yourself for starts but at the end what makes a difference is to grab the opportunity when it comes.
Some people just see it pass and don't even realize it, Some others see it but are afraid but you want a be the one that recognizes the opportunity and grabs it. The book also says that there are some unlucky ones that never come across the opportunity but I believe that against all odds you can still find it.

So if you have found your niche, money machine, source or whatever you want a call it and you are organized and apply a plan you will maximize your income and more importantly it will give you perspective (don't loose your horizon) to keep that money growing. Take the plans that people has shown here like examples, all plans need to be personalized for your needs and where you live. Maybe the only universal Rule is "spend less than you earn" 
Good luck!


----------



## reeder1

I totally agree with the advice given here. Additionally, my #1 life/money/success advice is to _be unerringly honest with yourself and others at all times_. Do not settle for any long term commitment that you don't 100% feel comfortable with. Always being upfront about everything enables you to make the difficult choices much more easily. Don't let others make decisions for you simply because it's easier to do so.


----------



## aznseank

Drksaint said:


> I see quite a few members on here who have made a correlation between studying hard/graduating college, and earning money. This isn't always the case.


What an irresponsible comment! There is a strong correlation between academic pedigree and wealth. While it isn't set in stone, you should never say these kind of things to a young person! Trust me though, 99% of non-college grads earn far less than college grads by at least 30% in life time earning. Plus, you make some strong social networks in college.



Drksaint said:


> $5,000 for a watch is not an expensive watch. Eventually, anyone can afford it. Even the guy working in the donut shop. $100,000 for a watch is expensive. And you won't be able to buy that watch working for some one else.


I agree with you here. You will never be able to afford a 100k watch unless you are the boss. Being an hourly proletariat is going to get you 400k at max and that is given that you got your JD or MBA from the top 5 schools and you work at a reputable firm in a major city. Even being able to get there is a VERY VERY slim chance. I would say achieving this is 1/10,000.



Drksaint said:


> The only way to have that ability is to bet on yourself and run your own business. But whatever you do in life...don't do it for the money. Do it because you love to do it....


I disagree. First off, 90% of the businesses fail because most people lack proper education to run a start up properly. They always try to rely on gut feeling or rely on some questionable advice on Youtube. The best way to succeed, IMO, is to first go to a good college. Second, join a major corporation so that you understand the tools and skills required to run a decent business and possibly build a strong network. Third, save up money and dive in with your fingers crossed.

In the case of your successful friends, they were EXTREMELY lucky. To be a competent CEO, it necessitate a myriad of skills such as a general understanding of legal framework, accounting and marketing. Most non-grads will not make it! I guarantee you.

Some people argue that creativity is everything so they want to downplay education. However, successful creative juices do not appear out of thin air. Scientists have proven that most creative thoughts are actually amalgamation of memories through using MRI machines. So for a person to have frequent bouts of creative ideas that are worth something, you need to know a lot whether that is through reading books or having quality interactions with other smart people. Obviously, understanding higher thoughts necessitates some formal education unless you are true genius, in which case, you would already have gotten into reputable schools anyway.

So here is my advice

1) Go to the best school you can get into
2) learn everything but focus on more tangible skills (please shy away from useless post-modernist/marxist/history/liberal courses and focus on accounting and coding)
3) surround yourself with smart *motivated *people
4) dedicate your life to being the best version of you
5) pray that the best version of yourself is welcomed in the capitalist system

you might not make it but at least you tried.


----------



## BreitlingAggie

Hilarious to see my answers from 8 years ago. Thank God I no longer have to travel so much. 


Sent from my iPhone using Tapatalk


----------



## aznseank

Aarrgggg.... people stop reviving old dead posts!!!!


----------



## Drksaint

aznseank said:


> What an irresponsible comment! There is a strong correlation between academic pedigree and wealth. While it isn't set in stone, you should never say these kind of things to a young person! Trust me though, 99% of non-college grads earn far less than college grads by at least 30% in life time earning. Plus, you make some strong social networks in college.
> 
> I agree with you here. You will never be able to afford a 100k watch unless you are the boss. Being an hourly proletariat is going to get you 400k at max and that is given that you got your JD or MBA from the top 5 schools and you work at a reputable firm in a major city. Even being able to get there is a VERY VERY slim chance. I would say achieving this is 1/10,000.
> 
> I disagree. First off, 90% of the businesses fail because most people lack proper education to run a start up properly. They always try to rely on gut feeling or rely on some questionable advice on Youtube. The best way to succeed, IMO, is to first go to a good college. Second, join a major corporation so that you understand the tools and skills required to run a decent business and possibly build a strong network. Third, save up money and dive in with your fingers crossed.
> 
> In the case of your successful friends, they were EXTREMELY lucky. To be a competent CEO, it necessitate a myriad of skills such as a general understanding of legal framework, accounting and marketing. Most non-grads will not make it! I guarantee you.
> 
> Some people argue that creativity is everything so they want to downplay education. However, successful creative juices do not appear out of thin air. Scientists have proven that most creative thoughts are actually amalgamation of memories through using MRI machines. So for a person to have frequent bouts of creative ideas that are worth something, you need to know a lot whether that is through reading books or having quality interactions with other smart people. Obviously, understanding higher thoughts necessitates some formal education unless you are true genius, in which case, you would already have gotten into reputable schools anyway.
> 
> So here is my advice
> 
> 1) Go to the best school you can get into
> 2) learn everything but focus on more tangible skills (please shy away from useless post-modernist/marxist/history/liberal courses and focus on accounting and coding)
> 3) surround yourself with smart *motivated *people
> 4) dedicate your life to being the best version of you
> 5) pray that the best version of yourself is welcomed in the capitalist system
> 
> you might not make it but at least you tried.


The original poster asked a question and I gave him an answer. He didn't ask you to judge mine, friend.


----------



## Pongster

What You Seek said:


> Preface: I'm not trying to be snide, Im merely curious
> 
> I more often than not see people with a fairly large collection of watches on this forum. Almost all of the time they have at least 1 or 2 expensive watches (I consider expensive anything over 1500$ish). Sometimes I see people with vast collections of luxury watches (I consider 3500$ and up)
> 
> Is WUS just full of successful people? How do you afford all of these pieces? Give me your story
> 
> Take it with a grain of salt, Im a 17 year old Suburban kid with a part time summer job, so obviously I am not a functioning adult that gets to choose how he spends his money.


studied hard. worked hard. been good to people. now reaping benefits.


----------



## Sinanamus

Thank you for bumping this thread. What a great read it was. I have a relatively low income and two kids. But I keep an extra luxury account I put leftover money into when I can, and I don't make purchases from this account more than once every three or four years. I let that money grow into a pile, and then I can make a big purchase without credit that I don't feel guilty for, since I saved and had discipline. 

Sent from my Pixel 2 using Tapatalk


----------



## joesym001

I think one of the key ingredients that we’re missing here besides all the hard work, saving, etc, is luck and whose helped you get to where you are in life along the way. I grew up very middle class with parents, teachers, and friends that helped me so much. I had a good start to life, which helped me so much more later. There’s a lot of people not nearly as fortunate.


----------



## cycleguy

I found it refreshing to read these answers. People giving honest advice to a 17yo.....I think he’s 25 at this point though so hopefully he’s heeding some of this advice. Great community here.


Sent from my iPhone using Tapatalk


----------



## Slowphiveo

Watches are like any other hobby. If you set your mind and budget to a goal you can get there without having a 7 figure income. I work in a government job, I have attained some success within my field and it pays well for what it is, but nonetheless it is a government job and my earning potential will always have a ceiling and I will never be "wealthy" but I am comfortable. I cannot just pick up and go out and spend $5000 or $10000 on a watch. It requires budgeting, planning, searching and eventually when all of those things come together, I can do it as long as it doesn't set me back in some other critical aspect of my life (kids, home, necessities). The key is prioritizing. At the end of the day, watch collecting is a hobby. If all of the other aspects of my life are in order and taken care of and I have something left over in the kitty, then I can attend to my hobby.


----------



## chatman

1. Educate yourself at the best school you can, and take the academics seriously.
2. If working for an employer, treat every project like it's the most important thing for you to advance in that employer's advancement ladder.
3. Don't be a douche unless someone is a douche to you first.
4. If starting a business, make sure you are obsessed with the subject matter of the business, and not the money you think you'll make doing it.
4. Fund a 401K, Roth IRA, or personal retirement account to to the maximum possible extent. Then save at least 3X the value of the watch you plan to buy before even shopping for it.
5. Don't be afraid to use credit if you can get good terms (e.g., 12 months same as cash). Just don't use the credit to spend beyond your means. See Item 4 above.
6. Don't put a watch over more important things, like a house, investments, or necessities.
7. If there's a "stretch" piece that you really want, place a moratorium on all other "fun" spending in order to get you there.


----------



## blakestarhtown

What You Seek said:


> Preface: I'm not trying to be snide, Im merely curious
> 
> I more often than not see people with a fairly large collection of watches on this forum. Almost all of the time they have at least 1 or 2 expensive watches (I consider expensive anything over 1500$ish). Sometimes I see people with vast collections of luxury watches (I consider 3500$ and up)
> 
> Is WUS just full of successful people? How do you afford all of these pieces? Give me your story
> 
> Take it with a grain of salt, Im a 17 year old Suburban kid with a part time summer job, so obviously I am not a functioning adult that gets to choose how he spends his money.


No college degree, no loans, no rich parents, no girlfriends, no partying. Just hard work, living frugally & saving. If you are 17 & live in the suburbs I say you are off to a good start. I was born & raised in the Northside of my city. A very impoverished area. I graduated early from high school & got a pretty decent job offer while I was in college. So I dropped out. Unfortunately no one taught me money management. When I lost my job I ended up losing everything. And went back to the "hood." Hell even slept in my car when I got evicted from my ghetto apartment. I thank GOD everyday for giving me a second chance. Most of my friends got killed or are upstate serving time. My only advice to you would be to save money, learn a skill as well as getting your basic degree. Most blue collar jobs pay extremely well.


----------



## blakestarhtown

I was such an idiot. By the time I was 21 I had bought a 4500 sq foot home in a really good part of town & got 2 cars on payments. An Escalade truck & a Bentley Flying Spur. Smh biggest mistakes of my life. Even though I relatively earned a good salary at that time. 130K after taxes. I also partied 3 times a week. Buying sections, bottle service, always eating out etc etc. My best friend who I grew up with lived down the street & he "influenced" me to buy a house in his neighborhood. Lol. Good times. We would go out & party all the time. Unfortunately if I would've kept my expenses low, drove hoopties & never got a mortgage I would probably have a cool 700K extra in my bank account today.

Here is a picture of my old home. My 2 cars & my friends white continental.










Money management & financial literacy are the keys to sucess. Don't be a dumbass like me.


----------



## KtWUS

blakestarhtown said:


> I was such an idiot. By the time I was 21 I had bought a 4500 sq foot home in a really good part of town & got 2 cars on payments. An Escalade truck & a Bentley Flying Spur. Smh biggest mistakes of my life. Even though I relatively earned a good salary at that time. 130K after taxes. I also partied 3 times a week.


You actually lost money on the house? That's somewhat surprising. Leveraging up is generally a good idea provided you do sensible things with the borrowed money. No arguments about the cars/parties hah.


----------



## blakestarhtown

KtWUS said:


> You actually lost money on the house? That's somewhat surprising. Leveraging up is generally a good idea provided you do sensible things with the borrowed money. No arguments about the cars/parties hah.


Foreclosure after I lost my job. The taxes were ridiculous 10K a year & HOA was 2K.


----------



## calvincc

blakestarhtown said:


> I was such an idiot. By the time I was 21 I had bought a 4500 sq foot home in a really good part of town & got 2 cars on payments. An Escalade truck & a Bentley Flying Spur. Smh biggest mistakes of my life. Even though I relatively earned a good salary at that time. 130K after taxes. I also partied 3 times a week. Buying sections, bottle service, always eating out etc etc. My best friend who I grew up with lived down the street & he "influenced" me to buy a house in his neighborhood. Lol. Good times. We would go out & party all the time. Unfortunately if I would've kept my expenses low, drove hoopties & never got a mortgage I would probably have a cool 700K extra in my bank account today.
> 
> Here is a picture of my old home. My 2 cars & my friends white continental.
> 
> View attachment 15400817
> 
> 
> Money management & financial literacy are the keys to sucess. Don't be a dumbass like me.


And how old are you now? Did you decide to sell the house and cars to fix your mistakes?

Sent from my iPhone using Tapatalk


----------



## calvincc

blakestarhtown said:


> Foreclosure after I lost my job. The taxes were ridiculous 10K a year & HOA was 2K.


Hope you are doing better now.

Sent from my iPhone using Tapatalk


----------



## blakestarhtown

calvincc said:


> Hope you are doing better now.
> 
> Sent from my iPhone using Tapatalk


30, and financially nowhere close to where I want to be. This whole year has been trash. Other than that I'm blessed & alive. ?


----------



## duke2earl

I can't speak for anyone else. For me it is that I'm old. I did not come from money and thus I worked from when I was 14 until I retired in my mid 60's. I worked my way through college and law school. I saved and invested all the way along. I always loved watches since I was very young. Through my young adulthood (1970's) I wore Seikos. I did not get into mechanical watches until the late 80's. I bought a Rolex and that was my first luxury watch. Since then I have been able to own watches from just about every big name company. 

My rule....never buy a watch you can't afford to pay for with ready cash....thus never buy a watch with borrowed funds. If you can't pay cash, you can't afford it. And never put watch purchases ahead of your family or your home. Luxury watches are luxuries...treat them as such...never as essentials.


----------



## Sam K

"Choose money", "chose your poison", and "don't have kids" would be my advice if you want a nice collection of luxury watches (or any other pointless luxuries you can imagine).

"Choose money" means deciding you want to have lots of spending money, and making choices to make that happen. Getting an MBA from a top school will (on average) pay significantly more than a PhD in classical music or philosophy. Learning to write code pays significantly better than learning to write prose. If you want expensive stuff, pick a career that has a reasonable chance to fund said stuff, not "something you really love". Take the job offers that pay well (considering how much you have to work: I'd rather make 150k/year working 8 hours a day than 200k/year working 12 hours a day 6 days a week) and be willing to switch jobs regularly when something better comes along. Don't take on extra responsibilities for no pay, and only negotiate for things that you get in a contract ("A really great work culture" doesn't pay for any watches, and is usually ******** anyway.)

"Chose your poison" means acknowledging that while a good career may allow you to buy almost ANYTHING you want, it won't let you buy EVERYTHING you want. Lots of people I know think I'm "rich" because I have a downtown apartment, a wardrobe full of bespoke suits, a fancy watch and professional camera equipment. While I make good money (cause I chose money), part of the reason I have that is because I DON'T have a car (I live downtown, I don't need one), a summer house or a boat (expenses per hour you get to enjoy it is huge!), I don't eat out very often and I don't travel much during my vacation (I live in one of the worlds most beautiful cities already). I have had some nice cars in the past, but decided they weren't giving me enjoyment relative to their cost, so I got rid of them and used the money to fund other things.

"Don't have kids" is just an extension to picking your poison. Kids are expensive. And they tend to drive further expenses. I see people spend silly amounts of money to "keep up with the Joneses" and then even more to let their kids keep up with the Joneses kids. In addition to being expensive, kids can't really be sold off if you find they cost too much in relation to the enjoyment they give you. If you want to have a sizeable luxury fund, don't have kids!

*Please note: *This is not advice to live a happy, fulfilling life. It's advice to be able to afford a decent sized loot pile.


----------



## saintsman

‘Don’t have kids’.

I know where you are coming from, but leaving your watch as an heirloom and knowing that it’ll be cherished, is worth more than money (For both party’s).


----------



## KtWUS

saintsman said:


> 'Don't have kids'.
> 
> I know where you are coming from, but leaving your watch as an heirloom and knowing that it'll be cherished, is worth more than money (For both party's).


Unfortunately, you can't know that it'll be cherished. After a person dies, the kids may choose to dump the watch, even if the market price is peanuts. Or if you're lucky, it might take a third generation to be dumped. The heirloom value of anything is greatly overrated imo. Kids rarely turn out the way parents imagine them to!


----------



## franco60

The cartel supplies all of mine. Oops!

Personally I attribute a lot of my buying power with having no debt except the house and not much on it. I have no monthly payments, zero. No car loans (and we have five drivers and four cars are ten years old or older), no credit cards, no student loans (two in college, one headed to grad school all paid from 529 funds or cash flow), no nothing. Everything is fully (monthly living) or mostly (retirement) funded. Not bragging, it's just a different lifestyle choice to not owe anyone. It also makes for guilt-free purchases. 

Hey, I love instant gratification as much as anyone, it's human nature, but sometimes sacrificing and paying off debt provides nice cash flow later. Just one guy's opinion. 

Sent from my Pixel 3a using Tapatalk


----------



## Sam K

saintsman said:


> 'Don't have kids'.
> 
> I know where you are coming from, but leaving your watch as an heirloom and knowing that it'll be cherished, is worth more than money (For both party's).


Like I said, my post is not a guide to how to have a fulfilling life, or even getting the most joy out of your watch collection. It's advice for how to afford a reasonable pile of loot.

Also, I've heard some pretty interesting reasons to have children, including "it will save our relationship" (it didn't) and "then I'll have someone who has to love me" (I would weep, if I still had feelings). "To have someone to pass my watches to" is actually pretty good by comparison.


----------



## TheStuntDummy

I would imagine most here are people who make more money than they spend. If you are making 100K a year but have a huge mortgage payment and a couple large car payments, then it doesn't matter if you are making 6 figures. You are servicing massive debt, and that is not wealth.

Cost of living plays a major factor in spending. Some places in our country are outlandishly expensive to live in. The best setup is finding a well paying job in a lower cost of living area. That really stretches your dollar and allows for more play money.

Some of my friends are able to spend more on watches because they are single so they don't have the major expense others do. They are also responsible with their expenses.


----------



## Pongster

Study hard for 22 years.

Work hard for 14 years.

then enjoy fruits of your labor.


----------



## Yamidan

To echo a few people here, I bought all my watches (bar 3 that were gifts from parents and wife) by putting away whatever was left after bills, mortgage, running costs, general growth savings and the fun fund.Sometimes it $20 a week some times is 2k a week but I never buy until I've got the full price in cash ready to go.


----------



## NTJW

In the past I save up excess cash to buy watches.

Now, I buy and sell watches as my part-time hobby, and use the profit I make to buy the watches I like.


----------



## MarkS

I was lucky, really.

My Grandfather used to go to flea markets and buy very cheaply watches from the 1930s and 1940s. When I visited him he would let me examine the cases and the movements... I was hooked. As a teenager I worked odd jobs in the neighborhood and made enough money to go downtown to a jeweler that my Dad knew who would sell vintage watches for the weight of the gold. It was the 1970s and I paid nothing, usually less than $40. After awhile, I developed a good relationship with the elderly gentleman and he started giving me watches that were gold filled or plated for free as they did not work. I'd take the watches to a watchmaker and most were easy repairs. The 1980s roll around and now vintage watches are a big craze. I had dozens and dozens of vintage watches... Gruens, Hamilton, Bulova, Wittnaur, etc and I sold them for easily 10 times what I paid for the watches originally. I took the money I made and started buying higher end watches; Rolex Subs, GMT, Prince, Explorer 2, Daytona, and vintage Patek and VC.
Over the years, I bought and sold some of the watches which enabled me to buy other brands such as IWC, Panerai, and AP.

Yes, I'm a health professional and made a good living. But, I usually bought a watch by selling a watch, not always... don't tell the wife.

I still have a few of the old Rolex models that I bought decades ago for a fraction of what they're worth today... I'm amazed how crazy some of the prices of these watches have become of late.


----------



## SolarPower

Read a lot, study, compete, solve tough technical problems other's could not, be nice with people, take weighted risks, run your business successfully or move up the value in a corporate world.


----------



## blakestarhtown

KtWUS said:


> Unfortunately, you can't know that it'll be cherished. After a person dies, the kids may choose to dump the watch, even if the market price is peanuts. Or if you're lucky, it might take a third generation to be dumped. The heirloom value of anything is greatly overrated imo. Kids rarely turn out the way parents imagine them to!


I totally feel you on this. My daughter is 7 and has already shown her dislike towards me. My ex-wife has been feeding her lies and blaming me for all their problems. Get this, my ex has 2 more kids from 2 other men also. Smh. The only person I have to blame is myself. I should've never gotten in a relationship with that woman.


----------



## WatchEater666

Started two DTC brands with a couple thousand dollars I bootstrapped to 7 figures in revenue. 

Invested that cash flow into booting up my own small private equity shop so could compound capital effectively. It worked really really well. 

Also live relatively frugally. My apt is only 700 sq ft or something like that and my living expenses are low. I don't have kids yet so no point in living fancy.

I buy all my watches below market value so when I get bored I don't lose money. I think I'd only lose a little if I sold my Zeitwerk for example.


----------



## olske59

What You Seek said:


> Is WUS just full of successful people? How do you afford all of these pieces? Give me your story


Me: solo medical practice (a dying breed, I know)

Early on: stay focused on the future, get a decent education (get some part-time job experience during it), build a reputation for diligence and integrity

Later: be dependable, keep learning, one wife max, no more than two kids, no boat or airplane, live below your means, always invest for the future, keep your debt ratio low (watch out for those CCs and things you think you "need"), don't skimp on insurance while you're building wealth

Then: you have flexibility and can pay cash for your toys (hey, you got to have some kind of hobby!) - watches, a sports car, travel, golf, guitar lessons, whatever...

Bottom line - no matter how much you earn, if you're spending it all the net result is zero. Someone who earns $60K but lives on $45K will end up in better shape than one who earns $200K but spends $195K.


----------

