this post was submitted on 27 Nov 2023
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[Rolex] What’s your watch buying rule? (alien.top)
submitted 9 months ago by Junekim10@alien.top to c/watches@style.land
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Hello everyone! I am a college student and I have been in love with watches for about 2 years now and have greatly expanded my knowledge and taste on watches. I was thinking about the next watch purpose just like all us watch addicts 😂 and was curious on what your rule about buying a new watch is? I am thinking of the GMT Master II but it’s $11,000 retail so I obviously should save up more than that. What are your thoughts and watch buying rule that you have set for yourself?

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[–] Morakel22@alien.top 1 points 9 months ago (1 children)

Pretty simple 10% rule.

Take 10% of your net annual income for shots and giggles. ( only if you have no debt or running costs ) with that 10% you can do what ever you want.

So let’s say you want to buy that gmt for 11 grand that means that you have to make 110k net annually to comfortably afford this watch.

You will never go broke of this, you will always have a limit of what you can afford and you can plan ahead for future watches that might take a while to be delivered.

I use that rule and it works perfectly. ( although I’m already at my limit for this year 😅) but I know when to stop

[–] improvthismoment@alien.top 1 points 9 months ago

Interesting take on this. I get the concept, but I would say that "10%" might be more or might be less depending on a lot of factors:

  • Other expenses
  • Debt (you did mention this)
  • Cost of living where you live / want to live
  • Family obligations
  • Retirement
  • Financial security, in other words is your income stable or is it going go fluctuate a lot year to year

So if my parents are billionaires and I've already got housing and retirement set, then that 10% might be closer to 50% or 90%.

If I'm just barely getting by financially and live in a high cost of living area and have lots of family obligations, then that 10% "fun money" might be closer to 1%.