7 stacks... too much for a watch?

[Pavlov's Bell]

FAM0US is all about Rolexes and breitlings

FAM0US would be all about Breitlings.

I actually would like a Rolex one of these days, but I'd much rather put the 7k towards retirement or a down payment on an apt/house. It'll probably end up being a 40 year birthday present to myself when I'm all old and unswaggy.

[DaBestSpoona]

You could always make that 7k back pretty easily.

[John Q. Citizen]

7k towards retirement/down payment on an apartment? what fucking world do you live in? In my world, 7k is not going to get you anywhere...just cop a watch

yeah, in my view the J12 is a girl's watch. whenever i see it shit just reminds me of paris hilton or something...

[dismalfuture]

lol, okay baller.

[FranklinCosgrove]

7k towards retirement/down payment on an apartment? what fucking world do you live in? In my world, 7k is not going to get you anywhere...just cop a watch

lol wut.

What world do you live in?

[dismalfuture]

You can also buy a lot of popular Rolex models for about $3K on the used market from legit stores anyway, so $7K is a bit generous, unless you're looking for something gold, rare, or a Daytona. You can get two nice watches for that much if you're not going to the first tier.

[John Q. Citizen]

lol sorry, didn't mean to put anyone off. probably in different stages of life...

the way i see things in aus, which could be different in the states as i'm not too sure how different pension funds work, we have compulsory superannuation which is about 9% of salary and is the retirement scheme here.

now doing a few quick calculations, i figure i have around 40 more years of work left ( ) On a salary of say 120k, this works out to be in excess of 400k. Now this excludes interest, bonuses and any other savings or investments made. Taking this into account, 7k is peanuts even from a pessimistic view.

Now, a decent apartment as an investment property in a desirable location in Sydney is going to cost you at least 7-800k. at least being the key words. lets say you looking to put a solid down payment of 20% = 160k of savings. Again, 7k isn't going to break the bank is it? Especially if you are financially secure enough to be realistically looking...

I dunno...I'm just saying. Back to watches...

[pokpok]

You can also buy a lot of popular Rolex models for about $3K on the used market from legit stores anyway, so $7K is a bit generous, unless you're looking for something gold, rare, or a Daytona. You can get two nice watches for that much if you're not going to the first tier.

new sub c is probably gonna cost you 7k

[Pavlov's Bell]

lol sorry, didn't mean to put anyone off. probably in different stages of life...

the way i see things in aus, which could be different in the states as i'm not too sure how different pension funds work, we have compulsory superannuation which is about 9% of salary and is the retirement scheme here.

now doing a few quick calculations, i figure i have around 40 more years of work left ( ) On a salary of say 120k, this works out to be in excess of 400k. Now this excludes interest, bonuses and any other savings or investments made. Taking this into account, 7k is peanuts even from a pessimistic view.

Now, a decent apartment as an investment property in a desirable location in Sydney is going to cost you at least 7-800k. at least being the key words. lets say you looking to put a solid down payment of 20% = 160k of savings.

Again, 7k isn't going to break the bank is it? Especially if you are financially secure enough to be realistically looking...

I dunno...I'm just saying. Back to watches...

And in America only cops and teachers get pension. The max you can contribute to a RothIRA Is 5k a year (assuming you qualify) so I'd say 7k is a nice chunk to throw towards a 401k or other retirement fund.

If you're 23 (40 years of working left?) and have anything close to 160k saved up, you either have an inheritance/trust fund or you live at home quite modestly with your parents.

[WhoGotMeIntoThis]

Stop it. Both of you. Fuck.

[DaBestSpoona]

And in America only cops and teachers get pension. The max you can contribute to a RothIRA Is 5k a year (assuming you qualify) so I'd say 7k is a nice chunk to throw towards a 401k or other retirement fund.

If you're 23 (40 years of working left?) and have anything close to 160k saved up, you either have an inheritance/trust fund or you live at home quite modestly with your parents.

Have you ever right about anything you post here?

Plenty of people in America get pensions. Besides most civil servants, pretty much anything with a strong union, older fortune 500 companies like AT&T, IBM, GE, Johnson & Johnson, Citi, Verizon, Pepsi, Procter & Gamble, American Express, Lockheed, Bank of America, Goldman, etc have pension plans for their workers. Its true pensions are becoming extinct but they're still there.

160K is not a lot of money for 23 year old, especially in a city with large financial market where you live. When times were good mail room guys, janitors, secretaries at banks, hedge funds, anything financial it wasnt uncommon for folks at their level to make 60K + 400K in bonuses.

Stop assuming everyone is below peasant status like you.

[Pavlov's Bell]

Have you ever right about anything you post here?

Plenty of people in America get pensions. Besides most civil servants, pretty much anything with a strong union, older fortune 500 companies like AT&T, IBM, GE, Johnson & Johnson, Citi, Verizon, Pepsi, Procter & Gamble, American Express, Lockheed, Bank of America, Goldman, etc have pension plans for their workers. Its true pensions are becoming extinct but they're still there.

160K is not a lot of money for 23 year old, especially in a city with large financial market where you live. When times were good mail room guys, janitors, secretaries at banks, hedge funds, anything financial it wasnt uncommon for folks at their level to make 60K + 400K in bonuses.

Stop assuming everyone is below peasant status like you.

I don't care what city, what economic climate, or what anything, not that many kids 1 year out of college have 160k in the bank. I'm not saying they aren't making 160k+ salary, I'm saying its probable that they don't have 160k liquid.

[DaBestSpoona]

btw please dont tell people how to spend 7k in a watch thread

[Happy Hooligan]

I feel terrible... I had maybe 600 dollars in the bank when I was that age, and stared out at like 15K a year.

No kid has that sort of dough, unless he had some help from daddy.

[dismalfuture]

$7K AUD in watch money is admittedly not much, I've just realized

[fre-co]

Well, I'm 34 and I don't have that in the bank. But then I already bought a rolex.....

[dismalfuture]

"I still got my lunch money from the 3rd grade"

[DüM]

still spending money from 88

[RandR]

I have an indian head buffalo nickel I think.

[haploid]

I have one of those silver comparative 5$ bill presses that they advertise in National Geographic from when I was in the third grade. It will be worth something someday, I just know it!!

[RandR]

friend in finance – pre '05, made $300k/yearly out of college (math major, summa cum, etc.), but is now living back home with parents, doing some kind of modeling (I think)

2 friends in comp sci. – 1 is working for qualcomm / quicken ( i forget which ), making a respectable $85k/year out of 4 year uni (but magna cum laude, honor frat, etc.), and is thinking about going back for a phd in philosophy/math

1 worked for startup, got bought by google, cashed out options, is now just chilling, working as an acrobat (yes, an acrobat)

granted, most college kids don't make $160k out of uni, but to those who work hard, it's not unheard of.ymmv

man, pavlov's bell is consistently stupid. just ignore him, or do what I do: read his posts and then roll your eyes like when a girl you are talking to tries to tell you about fast cars or how she only dates nice guys.

[jayrock]

man, pavlov's bell is consistently stupid. just ignore him, or do what I do: read his posts and then roll your eyes like when a girl you are talking to tries to tell you about fast cars or how she only dates nice guys.

you never get laid do you

[RandR]

you never get laid do you

I once touched a woman's breast but then I threw up on my shoes.

[blm14]

7 stacks of what? Pancakes? I would trade 21 pancakes for a watch.

[John Q. Citizen]

lol didn't realise this was such a big deal...I think this is just being made out to be more than what it actually is...

I still stand by what I said though. 7k ain't shit.

Firstly, let me make a few things clear. I never said I had 160k in savings - don't know where that came from. I merely proclaimed that 20% of 800k =160k. And that someone young in this situation wouldn't care much for spending 7k on a nice timepiece. I'll admit i have nowhere near 160k saved, but at the same time i'm not slumming it. I also have no desire to enter the property market any time soon and as such, don't see why I should be putting aside more money into savings than what I already do - especially towards a home loan/deposit. I'll let superannuation and a few investments i have already made and intend to make in future sort retirement out for me. I live out of home and have no kids or dependents, and fortunately a good girlfriend who has a decent job and can pay her own way. From this reasoning, you can see that I can 'save' 7k quite easily in a matter of months and spend it on a watch without worrying too much. Oh, and I am 25.

Secondly, I believe that everything is relative. For example, i often eat out and spend between one or two hundred dollars. Now to me, this is a modest amount for a nice meal at a nice place for two people. However for some, such as struggling parents on a mortgage with 3 kids and rising interest rates this is quite unheard of.

Also, I know people on here regularly spend above a grand on jawn. No hate at all but to me personally that is more of a waste of one's money - purely for the fact that I don't need nor have the desire to look like a goth ninja, or 'workman' etc etc.

Most people will spend money on material things depending on it's influence on your life or your perception towards it. Think about it - most people wouldn't even dream of spending close to a k on sneakers, but it happens regularly on here doesn't it? Similarly, someone who appreciates a nice watch will spend well over 20k on a Patek Philippe.

[po_boy_fuuma_hatesbargerz]

man, pavlov's bell is consistently stupid. just ignore him, or do what I do: read his posts and then roll your eyes like when a girl you are talking to tries to tell you about fast cars or how she only dates nice guys.

lol i could'a sworn i'd stealth deleted that one.

good catch

[fuego]

$7K AUD in watch money is admittedly not much, I've just realized

eh? the exchange rate is near 1:1.

[John Q. Citizen]

$7K AUD in watch money is admittedly not much, I've just realized

Exactly.

And in today's money it is even less US...AUD is fucking killing it:

[Pavlov's Bell]

man, pavlov's bell is consistently stupid. just ignore him, or do what I do: read his posts and then roll your eyes like when a girl you are talking to tries to tell you about fast cars or how she only dates nice guys.

Randy... you're a fucking pretentious douchebag and a hell of a lot dumber than you make yourself out to be. These days, ain't many 23 year olds with $160k saved up in the bank. Does it happen? Yes, it obviously does, you miserable fucking cunt, but its not "the norm" like you and Spoona are insisting. There are tons of people who bank 160k a year out of school (I mean, if you're gonna drop $150k on an education...) but there's a huge difference between making a decent salary and having close to $160K saved up before you're 25. That's all I'm saying - I'm sure that 99.9% of recent graduates will agree.

[shufon]