How do you fund your Rolex

[zetaplus93]

Cut out the excesses in your life, and have a firm savings goal. If you don’t earn enough, look for ways to climb the ladder or look into starting your own business.

Nothing magical, just like any other large payment in life. Just takes effort.

[Therolexlogin]

Credit card

[RHIII]

Originally Posted by beshannon

By working

And there we have it. Next?


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[RHIII]

Originally Posted by beshannon

Yes, how to fund my Patek

I was scrolling through this thread and just thought that same thing. Hahahhaa. 🤣🤣


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[GradyPhilpott]

I'm retired, debt-free, and live modestly.

[doboy007]

Originally Posted by robotkiller

If you can't pay for a watch in cash, you can't afford it.

Paying for it in cash is not the greatest thing unless you can get cash discount. Better way is the pay with credit card for rewards then payoff in full.

[teb1013]

I got my original DJ with 0% funding through PayPal and paid it off within 6 months. Easy and cost no more. I got my Explorer II with a wire transfer from my bank.


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[fskywalker]

Originally Posted by Emoney11

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

[Carry The Interest]

Rule of thumb - if you don't have the cash to pay for it today, you really shouldn't put it on your credit card. For me, this applies to watches, other jewelry, cars, etc. (although with cars you can always make an argument to lease/finance if you want).

As soon as I graduated college, my first big goal was to pay off all my student loans. As soon as that was done, I bought a lightly used car in cash. The two watches I've purchased since then have also been with cash. The engagement ring I just picked up (!) was with cash. I know credit card points better than most due to traveling a lot for work -- I only actually pay in cash when I know there is some kind of discount advantage. I use credit cards for all my everyday/work/travel purchases, but am debt free every month. Once the bills are paid and I check to make sure my saving is on track, I have no problem splurging here and there on something I really want since everything saved is mine and I don't owe anyone any money.

[mjclark32]

Originally Posted by Merlin_AZ

Research good 529 plans. The one in Utah is great.

Already covered as long as High school and college don’t go up 100% yoy for 18 years straight, we’re good

[piratepress]

I wanted a Rolex for almost forty years, but couldn't justify dropping 10K on a watch. When my Mom passed away, I used some of my inheritance to buy a BLNR.

[Boothroyd]

I am at that age at which I "could" buy lots of things from savings. But the older I get, the more I find myself getting conservative on purchases for cars, watches, etc.

So I will spring for a stainless steel model here and there over time, but not interested in breaking the bank for a precious metal example, or to add too many watches to my "collection". Figure I am good for 2 more eventually. But the funding comes out of money in the bank, usually after investments have risen.

(edit): I want my spend on watches to remain less than 1% of my total net worth. Your mileage may vary, but that's the limit I put on the hobby, without going into specifics.

[AF_Rob]

I do it by "wasting" money on only one thing ;)

[AK797]

Originally Posted by Lt Virgil Hilts

I rob banks.

This is funny because my sister is also called Hannah, but we haven't robbed a precious metals depository in years.

[Bartlette]

By being disciplined with money. Budgets. Being serious. Take care of your responsibilities first. Pay off home. Pay for cars in cash. Fund 401K's and private money investments first. After some years of slowly becoming affluent, maybe low rung wealthy, you have the ability to look at something like your next required car and pay cash. I did this three years ago. My old Lexus GS300 had over 250,000 miles on it and was really needing $600 to $2000 a year repairs. So, I bought a $35,000 Lexus RX350 that was four years old and had 40K miles on it. It was less expensive than others on the Lexus certified pre-owned lot because it had some scratches on the paint and the plastic covering the instrument panel. In fact, it was $10K less! I don't care about appearance on my vehicles so I got a "deal." Anyway after you live a good life, save and take care of your responsibilities, one day you look up and realize that you have "arrived." You are literally saving 50% of what your job provides and you have cash that you can spend on baubles like a Rolex without any impact what-so-ever on your lifestyle or retirement plans.

THAT'S HOW YOU AFFORD A ROLEX. Or two or three.

[lamnyc]

Saves and sold some lighting equipment I no longer needed. Believe me, I always feel remorse after making any big purchases.

[Divingdeep87]

Originally Posted by Chadridv

Wait, do we have the same father?

Seriously it was totally what my dad would say

[theloxmyth]

Originally Posted by mannyv11

I use money

Yep.

[MCO1]

Partly by not having car payments and not having kids.:)

[Spartan1]

Straight cash, homie! :)

[BNA/LION]

[scarlet knight]

Mortgage paid off. Cars paid off. Both spouses work. No children. Have discretionary savings.

[RickR]

Surprisingly, the money is pretty good!

[bdex75]

I have a “watch fund”. I use my company’s stock purchase program to set aside about $2000 a quarter in the fund. Sometimes I find something that trips my trigger and I buy it if the funds are there. Sometimes it accumulates for several quarters. Once I wanted a Deepsea and had to come up with $10,000 so I saved it for 5 quarters.


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[GoPackGo!]

Bitcoin....cough cough

[bbressler]

Originally Posted by beshannon

Yes, how to fund my Patek

[kans86]

Salary. I bought my first Rolex, a Sub Date after getting a good paying job 16 years ago when I was 27. From there within 2-3 years I purchased a total of 12 or 13 Rolexes including two 6263s. All were paid by cash. That said then I realized I spent almost 50% of my total asset on watches while having no housing or retirement plan. So I decided to sell most of them except a Daytona Zenith and the Sub Date. Didn't lose any money or even got some extra from doing so. All the cash went back to investment, bonds and stocks.

Back until last year after having settled a few priorities, purchased a house and planned well for the retirement... I went back to the watch game. Since then have purchased 1 Pepsi, Milgauss GV and Milgauss White, and 2 Tudor BBN ETA. Again all from pay checks and with cash.

[DoctorA]

Using “play money” from extra income or additional bonus. That way I feel less guilty about it
I figured I have a list of watches I would like to get.

A- I can buy them as soon as i can, get to enjoy them longer, potentially for a lower price (with price increase coming) and before they get discontinued

B- pace it with a plan to get 1-2 watches every so often but risk the opposite of the above

So as long as I’m not spending dinner’s money, once I’m done with the list then I AM DONE............. or so I think lol

[topfuel25]

thanks to Bitcoin for donating to my purchases

[Odie-r]

Selling bikes! haha