24 years old. Too young to have a steel Sub?

[vantzemi]

You are never too young to have anything you can afford to buy from the fruits of your own labor. Besides, chicks will dig it and so will you!

[speedo]

the steel sub is perfect for any age.
i received my dj when i was 24 and i needed quite some time to be able to appreciate it.

[experimentjon]

Originally Posted by Rookhawk

It's all relative but keep this in mind:

1. If you're wearing a watch at 24 that costs $5000, you better have the rest of your life's priorities in order because the watch represents something to those that see it. A.) a self indulgent child that has warped priorities, B.) a very successful young man that has treated himself to a luxury he can afford. Make sure the rest of you leads to the correct conclusion.

2. I bought my first at 23 but it was 3% of my annual salary and I owned my home and car outright. I'd suggest you really prioritize your finances and indulge when you feel you are ready to treat yourself. Nothing looks worse to employers and clients than a man that mismanages his money.

Whenever you decide to buy, the watches will still be here. It's a special moment in one's life when you drop that amount of cash on the counter and buy a luxury good. I hope you continue to achieve all the things in your life that make a Rolex a small token of the larger you that speaks to excellence and achievement.

A very fine post. Especially liked the bolded part. That portion really spoke to me at 2AM after a long CPA study session.

I absolutely agree with point 1. I'm currently 21, looked at buying a Rolex, set aside all the money for one, and realized that I would probably fall into that first group of self-indulgent children. So I didn't do it. I have to save money for a down payment on a condo and for my dream of getting an MBA from Harvard Business School. There will be a long time ahead for the Rolex--well, multiple Rolexes and other fine timepieces.

Rookhawk, If you owned your home and car outright at 23, you were doing more than well enough to justify a Rolex. Reversing out the salary from those numbers, that's some excellent money for 23...and a hefty heap of assets too. What were you, a bond trader in the 80s?

As for the OP, it looks like he has decided to move forward with the Rolex. And I echo the bolded portion of the quote. So to the OP, enjoy it, and I too, wish you success in your future.

[dddrees]

I never realized there was an age requirement.

[Sperry]

When I was 16, and convinced I had to buy my girl a 1/10 c. diamond pendant,
the local shop guys tried to convince me to buy myself a nice watch instead.

Putting aside that prices more than doubled between 1973 and 1978, the Sub, or any of the watches,
would have been a great investment and given me years of pleasure in use and ownership.

You're never too young to start buying decent clothes, shoes, watches, etc.

Interesting note: In 1957, the Sub cost one-to-two weeks wages.

[BH13GMT]

I was 21 (1993) when I got my Coke GMT2, had a sub when i was 24. I was in a position to buy due to my job providing me with a nice car at the time (this was before the days of UK tax on company vehicles). So the money I would have spent on running and insuring a 1993 BMW 320i went in to the pot to bag my first Rolex.

[Director EDTF]

If you can afford it , go for it!!

[Rookhawk]

Originally Posted by experimentjon

Rookhawk, If you owned your home and car outright at 23, you were doing more than well enough to justify a Rolex. Reversing out the salary from those numbers, that's some excellent money for 23...and a hefty heap of assets too. What were you, a bond trader in the 80s?

A bit off topic but you asked. I hated school so I dropped out at 17 and moved out of state to start off on my own with $750 in my pocket, 2 suits and a reliable car. I founded my first IT consulting business before my 18th birthday and I rode the Novell and Microsoft waves before certification and networking were commoditized. At 21 I bought my first home, a complete craphole victorian home that needed major restoration. (I spent 7 years of nights and weekends restoring that home) I became an officer at Bank of Montreal at 22 and then I worked for UBS Warburg at age 23. I thought "I'd arrived" when I got my job at UBS so I splurged on a business trip to D.C. and bought my first Rolex from Lenkersdorfers Jewelers in the Tyson Corners mall from a guy named David. Back then you could buy a 16660 Seadweller with an MSRP of $3900 for $3300 out the door. I remember that I so badly wanted a tutone blue sub but the $6100 MSRP, $5300 out the door was so far beyond my means I thought it would never happen. 12 years later (only a few months ago), I traded in that first seadweller for a year 2000 tutone blue sub, the very model that I wanted so badly years ago but couldn't afford at the time. My wife treated me to the difference in price as a 35th birthday present.

So in conclusion: best thing I ever did was drop out of high school. It saved me from too much deluded thinking.

Second best thing I ever did: I never went to undergrad so I avoided tremendous, worthless debt and a it gave me 5 years head start over my business competition.

Third best thing I ever did: I got a top tier MBA at 30 and it made all the difference. (waiting until I could get accepted into a top business school instead of compromising)

I appreciate your enthusiasm for HBS but I'd rethink that one. Send me a PM and I'll explain why. You can do better.

[Xeloragemo]

If you can afford it, buy it now.
The priice of the Submariner has tripled since I puchased one 13 years ago.
Not I wll get one now.

[Rebel]

If you can afford it, go for it. If it places you in a financial strain, don't. I quess my advice would apply to any age-group.

[aronutopia]

It is just nice to have it....Go for it

[gwalker]

Just came back and read a lot of the posts and good advice from most. I would almost say that som put too much emphasis on what you need to have in the bank to afford a Rolex. I mean most 24 yr olds dump cash into a $40k car that will do noting but take a dive in value (and believe me I take a beating on all my toys.) A Rolex isn't an investment persay but judging from the past it will be atleast with something in a few years. If you have stuff in order go for it. I hope nothing ever happens to where I had to have cash fast but you can liquidate a Rolex faster than about anything else. Honestly having cash tied up in a Rolex is probably better than actually having the cash in a safe as bad as inflation is getting(not saying tie up everything in watches just making a joke so don't kill me for that comment) Lol

[rolexperfect]

gwalker, I see it not as an investment per se, but as one luxury good that won't lose its value as fast as a car does, for example. Very true, I don't like driving, I don't own a car, and I don't think I'll have one maybe until I marry and, by the way, I live in a city where you see people riding bikes wearing rolexes. Bike here is really common, bikes and Smarts.

[Mickey®]

Originally Posted by rolexperfect

gwalker, I see it not as an investment per se, but as one luxury good that won't lose its value as fast as a car does, for example. Very true, I don't like driving, I don't own a car, and I don't think I'll have one maybe until I marry and, by the way, I live in a city where you see people riding bikes wearing rolexes. Bike here is really common, bikes and Smarts.

I got to admit I love this fact...Who says that because you have a Rolex you have to have a $100,000 car or any car at all. I have no use for people who put too much importance in their cars...I've always been that way...

[bradiowausa]

I had a two tone datejust at 19 - 24 isn't too young for a ss sub. Not at all

[Jannal]

If you can afford it (paid by yourself), go for it.

[ingoodtime]

Here is what I think....life is short.....we never know......so, if it is a SS Rolex u want and you can afford it.....get it now.

[jets]

Originally Posted by rolexperfect

So question is... 24 years old, too young to get an Steel Submariner? One of my best friends said I should wait until I am at least 30.

What do you guys think?


Cheers!


Thanks.

Do whatever you want. If you want it and can afford it don't listen to anyone unless you owe them a lot of money.

As for your friend - ask yourself what his angle is. Is he concerned for your safety because you live in a certain neighborhood or town? Does he think you are going to grow stronger on your 30th birthday so you can fight off muggers? Most people don't want to be reminded of their lack of progress and if you get the watch now than he has no time to 'catch up.' Call me silly but I have had a lot of good friends that made me wonder why I ever needed any enemies. Do what feels right.

[Serpico2359]

Got my sub date at 22. had it 11 years now, and just got it refurbed. looks as new as the day I first bought it. Thats the great thing about Rolex!

[Rolexis]

Originally Posted by Serpico2359

Got my sub date at 22. had it 11 years now, and just got it refurbed. looks as new as the day I first bought it. Thats the great thing about Rolex!

I bought my first Tudor Sub when I was 17. Followed by a 1601 Dj then a 1675 GMT right before 18. I wish I would have started at 10

[jdc]

If you want it buy it, there are a load of watches that will go in and out of fashion before a sub

[westbroek]

Welcome, I was 21 when I bought my GMT IIc

[roger0770]

age is not a restriction, but money is. if you can afford it, go for it! high school girls nowadays carry expensive designer bags. i don't see why a 24 years old grown man couldn't wear a ss rolex sub.

[rolexperfect]

great guys! Thanks everybody.

I can't wait until I have it on my wrist :)

I like what gezzel said... I will for sure be modest anyway. I've always been.

I just wonder how does it feel to wear your first Rolex, can't wait!

Cheers

[tourbillon001]

simple answer is get it and enjoy it

[SPARTAN2161]

Originally Posted by Rookhawk

A bit off topic but you asked. I hated school so I dropped out at 17 and moved out of state to start off on my own with $750 in my pocket, 2 suits and a reliable car. I founded my first IT consulting business before my 18th birthday and I rode the Novell and Microsoft waves before certification and networking were commoditized. At 21 I bought my first home, a complete craphole victorian home that needed major restoration. (I spent 7 years of nights and weekends restoring that home) I became an officer at Bank of Montreal at 22 and then I worked for UBS Warburg at age 23. I thought "I'd arrived" when I got my job at UBS so I splurged on a business trip to D.C. and bought my first Rolex from Lenkersdorfers Jewelers in the Tyson Corners mall from a guy named David. Back then you could buy a 16660 Seadweller with an MSRP of $3900 for $3300 out the door. I remember that I so badly wanted a tutone blue sub but the $6100 MSRP, $5300 out the door was so far beyond my means I thought it would never happen. 12 years later (only a few months ago), I traded in that first seadweller for a year 2000 tutone blue sub, the very model that I wanted so badly years ago but couldn't afford at the time. My wife treated me to the difference in price as a 35th birthday present.

So in conclusion: best thing I ever did was drop out of high school. It saved me from too much deluded thinking.

Second best thing I ever did: I never went to undergrad so I avoided tremendous, worthless debt and a it gave me 5 years head start over my business competition.

Third best thing I ever did: I got a top tier MBA at 30 and it made all the difference. (waiting until I could get accepted into a top business school instead of compromising)

I appreciate your enthusiasm for HBS but I'd rethink that one. Send me a PM and I'll explain why. You can do better.

How do you get into a master's program with out a high school diploma/GED or a college degree?

[Rookhawk]

Originally Posted by SPARTAN2161

How do you get into a master's program with out a high school diploma/GED or a college degree?

Be very good at what you do, have experience as a lecturer at the University/Graduate level, impeccable references, body of published work and most importantly, know the rules and how to leverage them to one's advantage.

More than half of the top-25 Bschools in the country have a hidden clause in their MBA admissions that stipulates someone may petition the school for admission to the program sans-undergrad. This policy is analogous to the one Charlie Munger (co-founder of Berkshire Hathaway) used to petition Harvard Law for admission without an undergrad degree. (something Harvard Law will no longer do)

In my personal network I know of people that have entered the University of Notre Dame (Mendoza), University of Chicago (Booth) and Northwestern University (Kellogg) executive MBA programs sans undergrad. All 3 of those school's executive MBA programs are rated in the top-10 worldwide by the WSJ.