First Rolex Purchase Anxiety

[nektar]

And I trust that we all should realize that this hobby must be a reason of excitement, and not a source of problems! Never buy a problem :)

[faz]

Originally Posted by AK797

.... but I think you are only psychologically unready... and that's where we come in.

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[watchwatcher]

Originally Posted by roosvelt

Just my 2 cents hear, but your not ready for $8000 watch ! You have car loan, a mortgage and the big thing, only a 4 month emergency fund, this not time for a new rolex! Im 60 didn't get into expendable income purchases until sons done with collage and no debt what so ever house and cars. Please wait.

I'm going to respectfully disagree. It sounds like the OP is in stable financial condition, works hard, and has his priorities straight. He's a CPA, for god's sake, so I think he understands money.

As far as not having a Rolex if you have a car loan or a mortgage...really? The only way a person could own a Rolex would be if they didn't have any debt whatsoever?

If life was only about a financial ledger of all the money that you had accumulated, maybe. But it's not. Not even close.

Originally Posted by mas12

Thanks again all! I enjoy reading everyone's perspective - it's very helpful. A few things:

- Regarding car loans: thought about paying them off, but the interest rates are so low on both that I'm comfortable just continuing the payments
- Emergency fund: nothing is ever certain, but I'm decently secure in my job as a CPA/Consultant so I'm comfortable with 4 months worth with our brokerage providing an extra 5 month cushion if need be.
- I have definitely thought about the challenge of selling the watch (if needed) privately without any references or anything. If it comes to that, will just have to be 100% transparent, have all documentation, etc.
- Breitling was a rookie move! Won't call it a mistake cause I've very much enjoyed the watch but ready to move on from it. Debating selling but the bezel has a solid scratch I need to see if I can get fixed first

All in all the wait list is helping me process - I don't even know when I'll get the call. Could be 3 months from now!

Again, many thanks!

Best of luck!

[meyers]

Originally Posted by watchwatcher

As far as not having a Rolex if you have a car loan or a mortgage...really? The only way a person could own a Rolex would be if they didn't have any debt whatsoever?

Smart money management involves recognizing a distinction between "good" debt and "bad" debt. The OP has subsequently provided context on both their profession and the car loan - which is what triggered my initial post - so in the words of another member, this appears to be less of a financial issue than it is a psychological one.

[williamstone]

Impressive post!

[R!$]

If what you say is true, then you dont appear to be someone who should be purchasing luxury watches.