What did you spend your first bonus on
What did you guys spend your first bonus on? I got a solid stub and not sure what I want to get (will spend half probably on a watch but saved 95% my post tax comp so far)
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Bump
Buy some S&P 500 index funds and save it.
We’re in bubble territory
Put it in a short term CD then.
Shut up boomer
Put it in FNGD then like a champion
Okay then short it
I made a lot less than people do now when I started and I was probably less responsible than most. My first bonus was small, but my friends (who all made 2X what I made) wanted to go to Vegas and that’s the only way I could afford it, so that’s what I spent it on. Turned out fine in the long run, but not really because of any decisions at that point in my life.
I’ll have about $15k net of taxes (withheld will probably get 1.5ish thousand back when I file taxes) but can’t travel so the only other thing is a watch. I’d invest it but if I invest and the market tanks I’ll get depressed lol
Divorce
Probably a wise thing to spend your FIRST bonus on.....don't want it to be the 10th for sure...
Bottles
Watch and credit card debt
Which watch
VFIAX, VOO, and VGT.
VFIAX and VOO are the same
Yeah lol. I’m not exactly what you’d call an ITK trader. Bought VOO then realized I needed a mutual fund for automatic stuff.
Pretty much saved it all. I was never into watches and a car didn't make much sense in NYC. I probably spent a modest amount on some work attire (e.g., Charles Tyrwhitt and Brooks Brothers shirts) and a nice dinner or two but not much more. Parked the rest of it in my brokerage account.
Bought my mom a purse
Please don’t buy a watch. Overhyped. All of them. Don’t get lifestyle creep.
Why they told there value and it’ll be nice to have something to celebrate the start of my career. I’ll probably spend like 7k
That doesn’t really work unless you’re a psycho or a massive loser in IB/PE.
Need to splurge everyoncein a while and upgrade your recurring expenses (e.g. rent, get a maid, better food) or you’re not gonna be able to justify the long term negatives of being in the industry when you can save more than enough in a much more balanced job.
Also, I’d agree with you to not spend the money but ONLY if you SAVE/INVEST to SPEND it on something better later. For example, fuck getting a basic ass Rolex for 2-4K, save next bonus-2 and let money appreciate until your splash fund has 40-100 and get a patek or fp journe. Every once in a while take a few grand oht for a vacation with friends to splash extra (vacation that you would have taken anyway).
Or wait and spend it on a hobby later when you have more time e.g. whiskey or shooting or idfk pinball machines. But whatever you do, commit to spending it just moderate when. It’s important to save and be diligent but don’t be one of those people that has no friends and has a 10M net worth at 60 because you didn’t spend any vs 8M and lived a great life.
I get what you’re saying especially if you’re not a materialistic person but in terms of real assets if you know how to buy watches the returns can be insane all while diversifying out of the equity/bond market
My brother bought a hulk with his first bonus and more than doubled (I think) since he got it. As long as you aren’t buying watches that drop 50% in value, you take care of it, and it’s not taboo in your office, then I think it’s a great choice
If I were interested in buying a good first watch/making an investment that held its value, what resources what I look at to start doing my due diligence?
I'd like to hear this - please go through an exhaustive list of every watch manufacturer out and provide a reason for rach of them being overhyped. You took pains to say they were all 'overhyped' rather than make a general comment about materialism so you must've done some impressively thorough research.
Buy some MO stock to hold forever
IDK who you are or why you speak, but you are right.
Dat three year chart looks horrendous
Bump
Want an investment? Dollar coast average into a bunch of different indices once you’ve found a legitimate advisor. Stop simpin’ for some metal linked bracelet.
I already have 100k in equities that I diversified after a huge covid bump. I want something to have for the rest of my life that symbolizes the start of my career
If you want something to own for the rest of your life that will remind you of your start, I think a watch is the best option. Like others have said they retain if not grow their value over time, and there are many different options so you can find one that you truly love.
OP dont listen to all the watch haters on his thread. People have this bizarre image of buying a watch as if it’s similar to splurging on a car / lighting your $ on fire. Whereas in reality, as long as you do your diligence and you’re able to buy a highly sought after model at retail (will take some work) a watch can actually be nice capital preserver or even a homerun investment (see previous poster’s comment on the Nautilus). By comparison, I bought a 126710BLNR that instantly doubled in value upon exiting the store and my 114060 sub has also gone up about 40% since buying it less than a year ago. Same with my white dial polar. These are just a few examples, but a watch can be an investment too if executed properly. With the right models, knowing you can wear your watch everyday and sell it for what you bought it for (plus some margin) at any time is pretty nice. Specifically with Rolex, the supply/demand imbalance is so out of control these days that it’s incredibly easy to sell off a watch if you ever needed to (or flip, if thats your thing although please don’t). Nearly any steel sportswatch from Rolex if purchased at retail will bring you instant gains on paper. Id stick to models like these where your initial investment is sealed tight and is highly unlikely (impossible) to ever be impaired upon a sale.
Agreed, I want something that I can wear everyday but will stay low key (I’m thinking the new speedy sapphire). The previous model dropped 25% in value but I don’t plan on selling. Low key office so if I wear a Rolex, it will be noticed
Agree with Crooked, proud owner of a 116710LN. Hadn't planned on shelling out for one for a few years but once they announced the discontinuation I jumped on it. Zero regrets, I love the watch and it'll last me the rest of my life. I put the rest of my bonus in some stocks I like and have already paid for the watch entirely
I spent it all on student debt.
I don't understand how you saved 95% of your comp. do you live with parents? do they cook for you? if yes, you need to move out first and get yourself a life, and then maybe buy a watch.
Yup don’t see a point to live in nyc during covid
same. living in the suburbs with no expenses and investing everything has made me an absurd amount of money during COVID.
Short GME 🙃
Thx
Bump
save to invest on stocks
I'm getting a new set of really nice golf clubs with my first full year bonus (will come in around mid april). I see it as an investment in both my mental health, my physical health (not really tho lol) and a way to advance in a hobby that can be leveraged in the industry as well. The rest of the bonus will probs end up in the equity market or invested somewhere else. I'll probably buy my mom something nice as well.
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