How do you fund your Rolex

[airpeace]

Hello all, i am not sure if this topic has yet been discussed.

Let's be real, an average rolex (brand new or used) starts at $5,000, and some newer and more popular models cost $10k+. I am curious how an average person buy a rolex because with mortgage, car payment, family and kids, how do you manage to save up to buy a rolex and what do you do for living?

Thanks

[beshannon]

By working

[Jroe]

Originally Posted by beshannon

By working

Yup


Sent from my iPhone using Tapatalk

[RedLs3]

Originally Posted by beshannon

By working

What he said

[airpeace]

very clever, but don't you have other priorities in life that require more of your financial attention?

[Photovideopro]

I have a modest mortgage, no kids, no car payment. I bought mine by working side jobs and selling unused camera gear/old watches. Went 6 months with no toy purchases. Bought a brand new SubC ND at retail. Am a videographer.

[twitch54]

Originally Posted by airpeace

Hello all, i am not sure if this topic has yet been discussed.

Let's be real, an average rolex (brand new or used) starts at $5,000, and some newer and more popular models cost $10k+. I am curious how an average person buy a rolex because with mortgage, car payment, family and kids, how do you manage to save up to buy a rolex and what do you do for living?

Thanks

no mortgage, no car payment, kids .....my 'little' guy is 38.

as far as paying for a Rolex, I planted a money tree in my backyard 35 years ago, it bears fruit nicely.

On a serious note, I've maintained a policy that when it comes to my toys (watches, audio, shooting sports) I only buy what I can pay for, financing of ones toys is pure stupidity.

[airpeace]

Originally Posted by Photovideopro

I have a modest mortgage, no kids, no car payment. I bought mine by working side jobs and selling unused camera gear/old watches. Went 6 months with no toy purchases. Bought a brand new SubC ND at retail.

thank you for your honest answer. Hark works pay off, i am sure you cherish your rolex a lot more this way

[Emoney11]

I sold a kidney to get my BLNR. I had to have it

[mjclark32]

Just had our first kid, so probably won't be buying any more for a little while and that's fine by me

[Bond's First Watch]

Comes down to wants and desires. Where I live people think nothing about buying a couple snowmobiles for 14 grand each or $55,000 BMW SUVs, both of which depreciate at an astronomical pace.

[Golf&Watches]

For some it's so insignificant that it does not register. For the many that make a sacrifice or a choice it is a very different proposition!

[dafuture]

I funded mine from working.

I don't have many bills aside from my car, and being in my 20s I don't really have many other financial commitments. For the record, I'm very careful with my money and put a lot into savings/401k. I've just been fortunate enough to work where I do.

That being said, I do buy and sell things occasionally to help pay for things I want. I did this for awhile with car parts with decent success.

[stratguy]

We are fortunate that we don't have any debt at all. Our policy is that we pay cash or we don't buy it. We haven't always been able to do that. When money was less plentiful, we didn't buy luxury items.

[Divingdeep87]

Originally Posted by stratguy

We are fortunate that we don't have any debt at all. Our policy is that we pay cash or we don't buy it. We haven't always been able to do that. When money was less plentiful, we didn't buy luxury items.

Dad? Is that you?

[beshannon]

Originally Posted by airpeace

very clever, but don't you have other priorities in life that require more of your financial attention?

Yes, how to fund my Patek

[herts9]

No magic tricks. Just stay on a budget. You can spend your $$ on random stuff, or save to get what you want instead. I have x-amount of dollars after the bills are paid. In a few months, I get an idea of what I want, and then another month or so tracking something down.

Some people's x-amounts largely vary than mine. It would take me a year to fund a SS Skydweller. But I'd rather not live on tap water and ramen :)

[doboy007]

I live below my means by a lot and don't have any "parasite(s)" ;)

[Ripcode]

Originally Posted by airpeace

very clever, but don't you have other priorities in life that require more of your financial attention?

Those should all be taken care of before you get a Rolex. Once they are, THEN you save for the fun stuff.

And don't waste money on lots of cheaper watches hoping they will satisfy the Rolex craving. Trust me on that point!

[VintageVagabound]

The tears of my little child (and a ten year old beater car).

Truth be told the average person doesn’t buy a Rolex because they need a reliable timepiece. It’s a status symbol just like nobody needs a Lexus when they could drive a Camry. If you can’t afford it now don’t sweat it just put aside a savings account and when you get $5,500 go get that Submariner that will mean all that much more because you saved so much to earn it.

[M.a.x.]

I plan on buying mine in 3-4 years when I retire from the Navy. I have a separate savings account I put 45 dollars in each Friday. When it’s time to buy it’ll be painless.

[jctrolex]

By being patient. I bought my first Rolex when I had my mortgage paid off, I had no other debts and made sure there is enough funds for at least one nice family vacation a year. Buying a Rolex is a personal want not a need. I made sure all other financial obligations and my family's needs are taken care of before indulging on my own desires. The only things we finance was our house and our cars, we paid cash for everything else. That's why I didn't get my first Rolex until I was about 50 years old.

[sunnyd]

(a) Income - (b) Expenses = (c) Savings

If (c) = 0, then you're doing something wrong. (C) over a certain period of time will be able to fund your Rolex.

[123joule]

I still drive a 1994 Toyota Camry that I bought used in 1997. 270,000 miles and still runs great. This habit alone frees up quite a bit of cash each month.

[DognMoon]

I was a pro musician and now work in advertising for the musical instrument industry. I bought my first nice watch (a GMT II) with part of my rainy-day/cushion money. When I was contemplating the purchase, I had the cash, and didn't have debt, a mortgage, etc.

I'm not in a position to do that more than once, though. I'm happy for the guys and gals who are.

I think it comes down to priorities. I still have a guitar collection that I could turn into a couple of Rolexes if I wanted.

[rockmastermike]

Living beneath my means for an extended time and discipline to stay focused on the prize

[DognMoon]

By the way, I'm thankful for the advice I'm reading in these posts. I'm now a bachelor again after 20+ years and it's tempting to go buy a bunch of watches to make me feel like I've got my life together.

Thanks to all of you who are speaking wisdom into the slow rewards.

[rudestew]

Originally Posted by Photovideopro

I have a modest mortgage, no kids, no car payment. I bought mine by working side jobs and selling unused camera gear/old watches. Went 6 months with no toy purchases. Bought a brand new SubC ND at retail. Am a videographer.

This

You’ll be surprised how much the little treats add up over time so as above said nothing for a few months ( my accountant said my expenses on coffee alone was a small mortgage ) and can also be healthy .

[roger0770]

Company stock options

[HONDABBQ]

I am a full time chef, plus I have a BBQ sauce business that does very well for itself, I have a Sweet Tea business, although seasonal it makes me a ton of cash in the summer months, and I sell a specific item for 400% markup that has made me a few bucks over the last 2.5 years. I work like a dog in the summer but can enjoy the fruits of my labors in the off months.

Married, no kids.