Will start FT next summer, spare 20K, buy watch?
Hi all,
I am finishing my masters this academic year and have a FT role aligned. Thanks to internships and savings I have 20k in my savings account, debt free and let's say my parents pay for most experiences-like expenses as travel. Was thinking to buy a nice watch for my graduation (DJ 36mm or Santos Medium) but do y'all think it's a stupid financial move and can be seen negatively if I come back FT with that on my wrist? What else would you do with the money in my position?
Any insights appreciated, thanks!
it probably is a stupid decision (excluding the "just buy a rolex bro investment bro" tripe) but this is one of the few times in your life when you can make a stupid decision
if it's not rolex then it's a want not a need. Treat yourself maybe you deserve it
You're young and the watches you're eyeing would leave you with ~10k left in savings. Treat yourself. If you're really concerned with being strategic about it, go for a classic DJ combo (blue or silver dial, fluted bezel + jubilee bracelet) instead of the Santos, which will instantly depreciate. The DJ will at least hold most of its value if you decide to liquidate later on.
thanks for the great insights guys!
Yes tbh it's really not for investment, it's just two are watches I really enjoy and always wanted growing up so know that I can buy it I am like "why not" but it is also always a lot of thinking before splurging 7k on a good lol
Rent a Bugatti for a day. It's about $20K. Pick up some random Tinder chick in the Bugatti. Enjoy.
Sounds like you're getting bankrolled by your parents for the rest of your life and therefore are incapable of stupid financial decisions, so go for it.
haha I wish but as soon as I start full time I'll have to fly with my own wings, which is a great feeling after being a financial burden for so many years
Does anyone wear nice watches anymore? The president of my organization recently commented he had 3 nice Rolexes gathering dust as everyone wears some smart device these days.
I'll be the pessimist; it's a stupid decision.
Yeah agreed - Garmin fenix is king.
Think about all of the unforgettable experiences you could have with $20k. You’d trade that for a nice chunk of metal on your wrist? Buy a Rolex when $20k is nothing to you and just a small % of your savings. By then, you’ll probably have matured and understand that there are better ways to spend money
Kind of cringe to spend 5-10% of your pre-tax, pre expense income on a watch. You don’t make that much, humble yourself lol.
Your estimated all in is going to be ~$160k so if you’re in NYC you’ll reasonably have $30k in savings each year
This is dumb. Invest the $. Buy the watch when you’re not cleaning out your savings to make it happen
I'd say, if you're not too snobby about it, buy something nice but less expensive. Then buy something nicer with your first bonus.
There are probably other costs you're not thinking of: apartment, furniture, clothing, social life, etc.
Doesn't hurt to have some safety net for when you get tired of this shit industry and want to walk away.
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