They’re damn near indestructible, worked with strong magnets for pipeline inspection for years, the hands on my gshock would stop near them but otherwise unphased.
officermike@lemmy.world
on 23 Jan 15:38
nextcollapse
Reasonably-priced Citizen Eco-Drive gang! What’s a dead battery?
MajorHavoc@programming.dev
on 23 Jan 17:38
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I commented elsewhere in the thread that Casio is still a status symbol - just to to a different, more pragmatic, group of people. Then I saw this comment, lol.
I too love to rock a Casio, and recognize others who do as well.
Though lately I’ve been hooked on my PineTime Watch. It’s not as iconic as a Casio, but it costs about the same and does ship with a Casio immitation watch face pre-programmed.
wait… the same people who made pinephone makes watches now? 0_0!! this is amazing
i need to order one.
MajorHavoc@programming.dev
on 24 Jan 19:38
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Lol. Yeah. That was my reaction, too. Then I realized they’re also less than $30.00. I love mine so much. It’s simple, but it’s so cool.
pineapplelover@lemm.ee
on 23 Jan 22:26
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Mid end casio gang (gwm 5610u)
passiveaggressivesonar@lemmy.world
on 24 Jan 19:51
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Reporting for duty, after I find the strength to push the buttons
Fluffy_Ruffs@lemmy.world
on 23 Jan 15:08
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What an idiotic OP (in the picture not you). Go into debt over a status symbol with as much utility as a $10 substitute. Yes, brilliant advice.
FourPacketsOfPeanuts@lemmy.world
on 23 Jan 15:14
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Same as all the muppets in the city dressed up to the nines in their new beemer than you know is on monthly payments.
On the other hand; being debt free, now there’s a status symbol…
ArbitraryValue@sh.itjust.works
on 23 Jan 16:07
nextcollapse
being debt free
I know a few people who are definitely not in a hurry to pay off low-interest mortgages from 2020 and 2021, but I suppose that they’re already in a very different financial position from the people who might consider going into debt for a watch.
Can’t take the house with you when you die so the less you end up paying the better in a way, unless you have someone to pass it on to like kids
ArbitraryValue@sh.itjust.works
on 23 Jan 17:40
collapse
Those mortgages have an interest rate of less than 3%, but now the returns on even low-risk investments are higher than that, so the borrower is better off investing the money, using some of the profit from that to pay mortgage interest, and keeping the rest.
As someone starting up a custom t-shirt printing business desperately in need of building a customer base, I condone this message.
captainlezbian@lemmy.world
on 23 Jan 23:41
collapse
A healthy financial life contributed to getting me a wife. It also would’ve gotten me laid if life hadn’t gotten in the way. A hot lady really liked my fiscal responsibility (her marriage was collapsing because her husband lacked that trait)
The_Picard_Maneuver@lemmy.world
on 23 Jan 15:16
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It was so phenomenally stupid that the guy got turned into a meme for a while on Twitter/X.
UnderpantsWeevil@lemmy.world
on 23 Jan 15:28
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Had a friend who graduated from Georgetown with a law degree and went to work at a NYC white shoe law firm. Shortly before his first meeting with a client, his boss dragged him into the office and opened a drawer in his desk. The man had half a dozen different watches, none of which were less than $10k/ea. He matched one with my friend’s suit and sent him back out. Apparently, clients at that level simply won’t take you seriously unless you’ve got that much on your wrist.
That said, this was at an office on the penthouse floor of a lower Manhattan sky-rise. Nobody making cold calls out of a boiler room in Cincinnati cares that you overpaid for a watch.
LibertyLizard@slrpnk.net
on 23 Jan 16:09
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Disgusting.
Carmakazi@lemmy.world
on 23 Jan 16:53
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Read an anecdote of someone in a similar station who had a client file a complaint against them because their watch was too nice. See, he’s the employee who is servicing the client. He’s beneath the client. He can’t be wearing nicer stuff than the client.
I don’t know how these people look at themselves in the mirror every morning.
UnderpantsWeevil@lemmy.world
on 23 Jan 16:58
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prole@lemmy.blahaj.zone
on 23 Jan 19:06
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Gross.
DontMakeMoreBabies@lemm.ee
on 23 Jan 21:36
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Fuck Big Law.
The whole thing is a ponzi scheme built on the backs of overworked associates.
Sure, you can make money… But you’re gambling on becoming a partner while wasting your best years.
Work-life balance >> “But I’ve got a roley and no family!”
UnderpantsWeevil@lemmy.world
on 23 Jan 21:41
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Hey now, you could have a family that you never see plus a string of mistresses near your office.
captainlezbian@lemmy.world
on 23 Jan 23:44
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Yeah, Cincinnati lawyers don’t know what time it is as a point of pride. They woo their clients by springing for a full 5 way.
reseller_pledge609@lemmy.dbzer0.com
on 23 Jan 15:38
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Seriously, FUCK YOU if you peddle this hussle culture grindset bullshit. I feel so sorry for the poor souls that fall for this shit because no one ever taught them any better.
directive0@lemmy.world
on 23 Jan 16:12
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I mean when viewed from the perspective of his world it makes sense.
He lives in a world where substance is meaningless and all that matters is appearance and bravado. I can appreciate why to him that seems like good advice. Just kinda bums me out people live like that, but I bet he’s happy having power and influence and money. Good for him.
I couldn’t and wouldn’t fuckin live that way and I will stick with my Casio a158, thanks.
MajorHavoc@programming.dev
on 23 Jan 17:34
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I will stick with my Casio a158, thanks.
Lol. That’s a status symbol in different circles. Anyone I see someone wearing a classic Casio, I know we’re going to get along.
directive0@lemmy.world
on 23 Jan 18:55
nextcollapse
It gets better! Its actually a Sensor Watch in disguise!
🤫
MajorHavoc@programming.dev
on 23 Jan 20:21
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Just FYI for whoever needs to read this: If you go into debt for a single investment, it’s a mistake. You are supposed to invest your excess, into as many isolated pools as reasonable. If you’re part of the majority of the population, which doesn’t have an excess, you are not investing - you are gambling.
Takumidesh@lemmy.world
on 23 Jan 19:05
nextcollapse
This is not really applicable and only works if you look at investments pretty naively.
The most obvious rebuttal to this is home ownership a mortgage is debt and is also a ‘single purchase’ however for most people, a mortgage is their first step towards financial independence. The next concept of course is TVM (time value of money), having cash available now to invest in worth more than later, and so utilizing leverage to invest money is important.
Generally, investments that beat interest make it worth it to utilize debt to make them, this is the premise behind investing using margin, utilizing heloc loans, or taking out a loan for a business, education, or tooling that will allow you to earn more.
Debt isn’t inherently bad and there are many ways to use debt to your advantage.
A good way to look at it is like this, if you have a line of credit available to you that satisfies your emergency fund, let’s say a few thousand dollars, instead of sitting on the fund in a low interest savings account, you can move that to something marginally less liquid, like an REIT or an index fund, and use the line of credit to float cash until you can withdraw. Use the credit for the 4-6 days it takes to clear the transaction. You may pay some interest, but the emergency fund will have actually gained significantly more than any interest you would pay.
Not all investment is the same, buying out of the money long calls on mene stocks is not the same as moving medium or long term savings to high dividend managed funds.
Thanks for providing the additional clarifications, I think pretty much all of it is valid, I just have a slightly different perspective.
Most people would likely agree with you that investing into a home through dept is reasonable. I don’t disagree.
I also agree that you can utilize loaned capital in a way that your earnings outperform the debt incurred.
You’re still gambling though. You can not afford to lose your home, or that loaned capital. Maybe you feel like your chances are good, and maybe they really are, but you’re relying on your personal prediction of the future to ultimately resolve that debt.
A “real” investment is just as much gambling, but the fallout from failure is entirely different.
I’d say the mortgage example is special, as it’s not just an investment for investment’s sake, it’s a house you are actually going to use, and your realistic alternative is to rent a place on indefinite terms.
For most folks, investments that beat the loan interest is a tricky and often outright risky proposition. If you are leveraging yourself too far then you are almost certainly not getting a good rate, and the investment may be assumed to do better, but could go significantly worse.
Yea I agree, and things like trading on high margin or using standard lines of credit to invest are generally bad unless you really know what you are getting into.
But it isn’t always hard to beat interest, it just depends. HELOCS are a great tool for people and depending on your situation, you can get them significantly lower than typical returns. Yea it’s a risk, but so is getting in your car and driving to work everyday. There is no income without some type of risk, opportunity cost, physical/mental health, etc. I think just like most things, there is balance. A student loan for a college degree is not much different than a traditional investment, neither is a note on a truck + lawn care equipment for a fledgling business. They all have risk, but they (along with mortgages) are more tangible for a lot of people.
My point is mainly that, sometimes it is ok to go into debt for a single purchase. I don’t think it’s smart to just open a bunch of credit cards and yolo your life savings into long calls, but I also don’t think it’s smart to squirrel money away in your mattress because all debt is evil.
CidVicious@sh.itjust.works
on 23 Jan 19:20
nextcollapse
A watch is never a good “investment” anyway. Re-sale value is a nice to have but it’s not a buy and hold.
Anyone telling people to go into debt to buy a watch is at best a fucking moron and potentially actively malicious.
Just FYI for anyone who needs to read this: it doesn't matter how fucking wealthy you are, ranking yourself with a watch is cringe and idiotic. Don't be a fucking sheep if you are poor. Don't be a fucking sheep if you are rich.
captainlezbian@lemmy.world
on 23 Jan 23:35
nextcollapse
There are two exceptions: education and real estate. Treat education as an investment (and research it as such). And real estate probably isn’t worth going into debt to buy unless it’s your primary residence.
Warren Buffet just fell to his knees in a McDonald’s
SkunkWorkz@lemmy.world
on 23 Jan 19:16
nextcollapse
If you are a first time Rolex buyer you for sure aren’t getting the watches that will appreciate in value. Rolex purposely creates a scarcity and will only sell limited watches to long time customers who have bought many less valuable watches before. It’s also so chuds that believe this guy don’t devalue the brand.
CidVicious@sh.itjust.works
on 23 Jan 19:25
nextcollapse
Yeah, for people who aren’t aware…Rolex reps only make certain high demand models available to preferred customers, i.e. people who have a track record of purchases with them. That’s why these models are so “exclusive”. It’s a long con.
Had a friend buy his second or third Rolex and we were all new grads. I was broke as hell at the time so it surprised me he was buying watches the price of a car right out of uni (and his parents just bought him an apartment so he lived in a different world).
He was telling me how this watch is gonna increase in value so it’d be stupid not to get it.
I never said it and only thought about it, but I was thinking that if you were buying it as an investment, why are you wearing it? Why not keep it at home？ It could get stolen or lost or broken. But I guess I have brokey mentality.
PlantDadManGuy@lemmy.world
on 23 Jan 21:24
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Your friend is a poser, and was probably buying fake reproduction rolexes to impress ppl.
WoodScientist@sh.itjust.works
on 24 Jan 00:04
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Past a certain level of wealth, it might make sense to invest in some really expensive jewelry just as an emergency and liquid wealth store.
Consider the US right now with its volatile political situation. Or any other country with volatile and uncertain politics. Or just uncertainty from major national disasters. People sometimes need to flee from disasters on short notice.
For a normal person, carrying around $100k worth of jewelry on your person would be foolish. For most middle class people, that would a substantial portion of your wealth that they’re walking around risking. But imagine your net worth is $50 million. Now that $100k worth of jewelry you wear every day is only 0.5% of your net worth. But if you need to bug out of your city or flee the country for some reason, you now carry around with you the means to do so. International money transfers can take time, and bank accounts can be frozen. But if you have $100k in jewelry just on your person, you have a liquid form of emergency bugout money. You can get on a plane with nothing but the clothes on your back, fly to a far off country, and immediately have access to enough resources to get yourself set up. Even if your accounts or frozen or your nation’s banking system has collapsed, you can pawn some of that jewelry off to obtain essentials like food, shelter, etc.
I think a fair number of rich people like having this amount of jewelry for the same reason that they often like having multiple passports. The odds of having to ever flee the country are low. And for most people, maintaining the means to flee the country at a moment’s notice is simply too much. But when the cost is a tiny portion of your net worth, putting what is the equivalent of pocket change into the ability to quickly flee a country isn’t so unreasonable anymore.
2ugly2live@lemmy.world
on 23 Jan 19:46
nextcollapse
I’d be way more impressed by the Sega watch to be honest. I probably couldn’t spot a Rolex if you put a gun to my head anyway.
The guy with the Rolex will just tell you he’s wearing one. That’s how it works.
ColeSloth@discuss.tchncs.de
on 23 Jan 20:24
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Rolex is a watch that poor and middle class people think is a rich person’s watch.
stevedice@sh.itjust.works
on 23 Jan 21:04
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Most well-known “luxury” brands are. Real rich person’s brands won’t even bother selling to the poor. There’s currently a meltdown among the middle class because Hermes is laughing them out of the store. It’s quite funny.
Timecircleline@sh.itjust.works
on 23 Jan 22:32
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It’s because they pronounce it Her-Meeez -hair flip-
WoodScientist@sh.itjust.works
on 23 Jan 23:51
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Seriously. Past a certain level of wealth, you don’t even need to buy brand-named items for most everyday things. You don’t buy a suit from an expensive brand. You hire a world-class master tailor to custom make you a suit from scratch. It’s fit exactly to your body, made to your exact tastes and specifications. The same thing should be possible with watches. You don’t buy an expensive brand, you hire a watch maker to make you an entirely custom piece.
ColeSloth@discuss.tchncs.de
on 24 Jan 01:13
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I’d imagine that’s pretty rare with watches. I’d guess if they aren’t just wearing an apple or Samsung watch, they’re wearing something like a Parmegiani.
Just to be clear - Hermes is also a fucking waste of money that serves no purpose other than to signal your membership in a club that has no value to society.
stevedice@sh.itjust.works
on 24 Jan 05:42
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vaultdweller013@sh.itjust.works
on 24 Jan 15:25
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Yeah because luxury doesnt mean quality, pretty sure I could get a custom leather coat from some Amish dude out by Salmon Idaho thatd blow away any luxury leather.
Have you never been to a high-end store where the retail workers just act sorta superior to you because they sell expensive things you can’t afford (but at the same time make multiple times less than you because they’re retail workers and you’re not)? It’s that kinda thing. It’s weird af.
They’re paid to act that way. In case a rich is in the store… Can’t have a rich person seeing a poor treated with respect.
It’s all about reinforcing class norms
stevedice@sh.itjust.works
on 24 Jan 20:32
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I don’t know about the luxury brands but I’ve seen people act that way at fucking Zara so I’m sure they’re just deluded assholes because there’s no way Zara pays above minimum wage.
camelbeard@lemmy.world
on 23 Jan 22:33
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Let me give you some real advice, buy a Casio G-SHOCK, pick a version with tiny solar panels. Seriously, they will last a very long time, no need to change a battery or synch it. Strapped my watch on like a decade ago, still works without any maintenance or anything.
Definitely in the category of “ol’ reliable” in terms of watches but I like the Pro-Trek because of some of the added features like the compass, barometer and altimeter.
SkyezOpen@lemmy.world
on 24 Jan 06:56
nextcollapse
Yes! I bought one 15 years ago and it’s still trucking. Solar powered and syncs with an atomic clock so no maintenance. Also while cleaning I found a cheapo battery powered gshock that’s probably just as old if not older, and it was still going and only 8 minutes off. Seriously amazing watches. If I didn’t rely on my smartwatch for sleep tracking and notifications, I wouldn’t wear anything else
Same. Got my G-SHOCK GW-M5610. Basically the ThinkPad of watches. Will never break, throw it in the ocean, smash with a hammer. Still trucks on. Was like $60 when I bought it. Most comfortable watch for travelling and every day use.
Sgt_choke_n_stroke@lemmy.world
on 24 Jan 00:40
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Wait what’s the other watch called. I want that
Redkey@programming.dev
on 24 Jan 00:47
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Almost everyone in this thread is talking about wannabe tryhards, investment, and reliable watches, but for people who are interested in the pictured watch, they’re real, but pretty cheap and flimsy; I have a couple.
They came out in gashapon machines a couple of years ago, although I got mine just last year for (IIRC) ¥500 a pop. It’s a series by Takara-Tomy with two models of Saturn (black and white), and two models of PS1 (PSX and PSOne).
I absolutely love the design but I’m surprised nobody has pointed out that this goes against the very purpose of wrist watches: you can’t just turn your wrist and look at the time.
I know it’s just a press of a button, but if only one of your hands is full (depending whether you’re right or left handed) then it gets annoying rather quickly.
As for the Rolex obsession: I’ve lost several watches, but every single time I just re-bought my cheap Casio. I love it and it does the job quite reliably. Also, I personally dislike analog watches.
That was the purpose before the invention of pocket computers pretending to be phones. Now they’re just jewelry. They don’t even need to function anymore.
TBF I still have both. Nothing beats quickly glancing at your wrist (until they develop built in HUD brain chips, so another 2 years).
Especially when you’re doing hand stuff anyway.
Shardikprime@lemmy.world
on 24 Jan 15:18
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“go into debt if you have to”
That guy writes like minimum wage
TrueStoryBob@lemmy.world
on 24 Jan 15:30
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Bought a Casio Data Bank DBC-32B-1ADF “calculator watch” about three years ago for like $30 USD. I get more compliments on that watch than any other piece of clothing/accessory that I own. Started using it as my daily driver watch and it’s genuinely great, a real conversation starter. If anybody wants one, they’re still in production and can be easily bought new on the big retailers’ sites.
Every watch guy will tell you otherwise. And present a spectrum of choices across multiple price bands.
Crashumbc@lemmy.world
on 24 Jan 19:45
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Always buy fakes, if you find a good quality fake. No one will know. Unless you absolutely don’t care about the money.
PolarisFx@lemmy.dbzer0.com
on 24 Jan 21:01
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Exactly, and maybe spend a couple hundred for a Japanese replica and all the functions might work.
passiveaggressivesonar@lemmy.world
on 24 Jan 19:51
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What game disk is that?
The_Picard_Maneuver@lemmy.world
on 24 Jan 20:19
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Just spent a few minutes searching, and I can’t figure it out. The text almost looks like it says Virtua Fighter, but it doesn’t match any image results.
shortrounddev@lemmy.world
on 24 Jan 20:21
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Buy a rolex if you want to impress other guys with rolexes. Literally nobody else cares
PolarisFx@lemmy.dbzer0.com
on 24 Jan 21:00
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Or buy a replica, for a very small fraction of the price and see if anyone ever knows the difference.
I have a $350 Japanese made replica of a Patek Philippe Grand Complication, everything works on it. To me it is indistinguishable from the real thing and didn’t cost me $300,000
threaded - newest
Low end Casio gang
bare wrist and linear time is a myth gangs
Touché, my timeless friend
Lunchtime doubly so.
I also respect those thick ass medium end casios with barometric/altimeter sensors, at least you’re getting something for your money.
They’re damn near indestructible, worked with strong magnets for pipeline inspection for years, the hands on my gshock would stop near them but otherwise unphased.
Reasonably-priced Citizen Eco-Drive gang! What’s a dead battery?
I have one for about 3 years, I love this shit.
I commented elsewhere in the thread that Casio is still a status symbol - just to to a different, more pragmatic, group of people. Then I saw this comment, lol.
I too love to rock a Casio, and recognize others who do as well.
Though lately I’ve been hooked on my PineTime Watch. It’s not as iconic as a Casio, but it costs about the same and does ship with a Casio immitation watch face pre-programmed.
wait… the same people who made pinephone makes watches now? 0_0!! this is amazing i need to order one.
Lol. Yeah. That was my reaction, too. Then I realized they’re also less than $30.00. I love mine so much. It’s simple, but it’s so cool.
Mid end casio gang (gwm 5610u)
Reporting for duty, after I find the strength to push the buttons
What an idiotic OP (in the picture not you). Go into debt over a status symbol with as much utility as a $10 substitute. Yes, brilliant advice.
Same as all the muppets in the city dressed up to the nines in their new beemer than you know is on monthly payments.
On the other hand; being debt free, now there’s a status symbol…
I know a few people who are definitely not in a hurry to pay off low-interest mortgages from 2020 and 2021, but I suppose that they’re already in a very different financial position from the people who might consider going into debt for a watch.
Can’t take the house with you when you die so the less you end up paying the better in a way, unless you have someone to pass it on to like kids
Those mortgages have an interest rate of less than 3%, but now the returns on even low-risk investments are higher than that, so the borrower is better off investing the money, using some of the profit from that to pay mortgage interest, and keeping the rest.
Even more: an interest rate of <3% is basically blown away by annual inflation.
That assumes your salary goes up with inflation, though.
Being debt free one of the few status symbols you cannot see. At that point, is it a status symbol if other people cannot see it?
I mean, I still agree though. Be debt free, seriously.
Not if you get it printed on a t-shirt!
As someone starting up a custom t-shirt printing business desperately in need of building a customer base, I condone this message.
A healthy financial life contributed to getting me a wife. It also would’ve gotten me laid if life hadn’t gotten in the way. A hot lady really liked my fiscal responsibility (her marriage was collapsing because her husband lacked that trait)
It was so phenomenally stupid that the guy got turned into a meme for a while on Twitter/X.
<img alt="" src="https://lemmy.world/pictrs/image/053916fc-b1a3-4bf1-bf77-2421532515e9.png">
knowyourmeme.com/…/if-youre-a-guy-in-your-early-2…
This is the best quality picture of the gromit mug i have ever seen. Thank you.
That is a pretty nice mug…
I can tell whoever owns that is high status…
I would certainly sign a legally binding contract with them!
Anyone else notice Gromit is shaped like curvaceous hips and ass? I really need to get laid.
<img alt="" src="https://lemmy.world/pictrs/image/8a668eb9-cb96-4115-b4ed-05b3441508fb.jpeg">
Ever notice how Peppa Pig’s head looks like a dick and balls?
Always thought she was whistle shaped
Had a friend who graduated from Georgetown with a law degree and went to work at a NYC white shoe law firm. Shortly before his first meeting with a client, his boss dragged him into the office and opened a drawer in his desk. The man had half a dozen different watches, none of which were less than $10k/ea. He matched one with my friend’s suit and sent him back out. Apparently, clients at that level simply won’t take you seriously unless you’ve got that much on your wrist.
That said, this was at an office on the penthouse floor of a lower Manhattan sky-rise. Nobody making cold calls out of a boiler room in Cincinnati cares that you overpaid for a watch.
Disgusting.
Read an anecdote of someone in a similar station who had a client file a complaint against them because their watch was too nice. See, he’s the employee who is servicing the client. He’s beneath the client. He can’t be wearing nicer stuff than the client.
I don’t know how these people look at themselves in the mirror every morning.
<img alt="" src="https://lemmy.world/pictrs/image/7b8b98e5-115e-4c91-a3d5-aa86ab9589d2.jpeg">
Gross.
Fuck Big Law.
The whole thing is a ponzi scheme built on the backs of overworked associates.
Sure, you can make money… But you’re gambling on becoming a partner while wasting your best years.
Work-life balance >> “But I’ve got a roley and no family!”
Hey now, you could have a family that you never see plus a string of mistresses near your office.
Yeah, Cincinnati lawyers don’t know what time it is as a point of pride. They woo their clients by springing for a full 5 way.
Seriously, FUCK YOU if you peddle this hussle culture grindset bullshit. I feel so sorry for the poor souls that fall for this shit because no one ever taught them any better.
I mean when viewed from the perspective of his world it makes sense.
He lives in a world where substance is meaningless and all that matters is appearance and bravado. I can appreciate why to him that seems like good advice. Just kinda bums me out people live like that, but I bet he’s happy having power and influence and money. Good for him.
I couldn’t and wouldn’t fuckin live that way and I will stick with my Casio a158, thanks.
Lol. That’s a status symbol in different circles. Anyone I see someone wearing a classic Casio, I know we’re going to get along.
It gets better! Its actually a Sensor Watch in disguise!
🤫
That is so fucking cool.
<img alt="" src="https://sopuli.xyz/pictrs/image/6c0c441d-67dc-4cc4-b2ec-0ffca327d2a1.webp">
Fuck. Lol.
Gottem
Blue Check Twitter Logic. Never has there been more superficial moronic fraudsters in one place.
OOOP
All status symbols are cringe. Change my mind.
It should play the SEEEGAAAA sound when you close it
OP got it out of a gachapong machine… that it actually keeps time is already incredible in and of itself.
If I want a fancy and over expensive watch I would get a pixel watch (gen 1 and used ofc)
Wife bought me a pixel watch 3 for Christmas. I wear it all the time…
… I work as a section bender in a factory. You can’t see it under my overalls.
Wait, where are you wearing it 😳
His name is “Bender Bending Rodriguez”
Edit: I did eventually get the actual joke you were going for.
Well, yes. My wife says I’m Bender from Futurama.
I bend steel, drink lots of beer and fart
firea lot.On my wrist but I wear a full boilersuit… We use burning tackle to cut the steel.
Just FYI for whoever needs to read this: If you go into debt for a single investment, it’s a mistake. You are supposed to invest your excess, into as many isolated pools as reasonable. If you’re part of the majority of the population, which doesn’t have an excess, you are not investing - you are gambling.
This is not really applicable and only works if you look at investments pretty naively.
The most obvious rebuttal to this is home ownership a mortgage is debt and is also a ‘single purchase’ however for most people, a mortgage is their first step towards financial independence. The next concept of course is TVM (time value of money), having cash available now to invest in worth more than later, and so utilizing leverage to invest money is important.
Generally, investments that beat interest make it worth it to utilize debt to make them, this is the premise behind investing using margin, utilizing heloc loans, or taking out a loan for a business, education, or tooling that will allow you to earn more.
Debt isn’t inherently bad and there are many ways to use debt to your advantage.
A good way to look at it is like this, if you have a line of credit available to you that satisfies your emergency fund, let’s say a few thousand dollars, instead of sitting on the fund in a low interest savings account, you can move that to something marginally less liquid, like an REIT or an index fund, and use the line of credit to float cash until you can withdraw. Use the credit for the 4-6 days it takes to clear the transaction. You may pay some interest, but the emergency fund will have actually gained significantly more than any interest you would pay.
Not all investment is the same, buying out of the money long calls on mene stocks is not the same as moving medium or long term savings to high dividend managed funds.
Thanks for providing the additional clarifications, I think pretty much all of it is valid, I just have a slightly different perspective.
Most people would likely agree with you that investing into a home through dept is reasonable. I don’t disagree.
I also agree that you can utilize loaned capital in a way that your earnings outperform the debt incurred.
You’re still gambling though. You can not afford to lose your home, or that loaned capital. Maybe you feel like your chances are good, and maybe they really are, but you’re relying on your personal prediction of the future to ultimately resolve that debt.
A “real” investment is just as much gambling, but the fallout from failure is entirely different.
I’d say the mortgage example is special, as it’s not just an investment for investment’s sake, it’s a house you are actually going to use, and your realistic alternative is to rent a place on indefinite terms.
For most folks, investments that beat the loan interest is a tricky and often outright risky proposition. If you are leveraging yourself too far then you are almost certainly not getting a good rate, and the investment may be assumed to do better, but could go significantly worse.
Yea I agree, and things like trading on high margin or using standard lines of credit to invest are generally bad unless you really know what you are getting into.
But it isn’t always hard to beat interest, it just depends. HELOCS are a great tool for people and depending on your situation, you can get them significantly lower than typical returns. Yea it’s a risk, but so is getting in your car and driving to work everyday. There is no income without some type of risk, opportunity cost, physical/mental health, etc. I think just like most things, there is balance. A student loan for a college degree is not much different than a traditional investment, neither is a note on a truck + lawn care equipment for a fledgling business. They all have risk, but they (along with mortgages) are more tangible for a lot of people.
My point is mainly that, sometimes it is ok to go into debt for a single purchase. I don’t think it’s smart to just open a bunch of credit cards and yolo your life savings into long calls, but I also don’t think it’s smart to squirrel money away in your mattress because all debt is evil.
A watch is never a good “investment” anyway. Re-sale value is a nice to have but it’s not a buy and hold.
Anyone telling people to go into debt to buy a watch is at best a fucking moron and potentially actively malicious.
Just FYI for anyone who needs to read this: it doesn't matter how fucking wealthy you are, ranking yourself with a watch is cringe and idiotic. Don't be a fucking sheep if you are poor. Don't be a fucking sheep if you are rich.
There are two exceptions: education and real estate. Treat education as an investment (and research it as such). And real estate probably isn’t worth going into debt to buy unless it’s your primary residence.
Warren Buffet just fell to his knees in a McDonald’s
If you are a first time Rolex buyer you for sure aren’t getting the watches that will appreciate in value. Rolex purposely creates a scarcity and will only sell limited watches to long time customers who have bought many less valuable watches before. It’s also so chuds that believe this guy don’t devalue the brand.
Yeah, for people who aren’t aware…Rolex reps only make certain high demand models available to preferred customers, i.e. people who have a track record of purchases with them. That’s why these models are so “exclusive”. It’s a long con.
Had a friend buy his second or third Rolex and we were all new grads. I was broke as hell at the time so it surprised me he was buying watches the price of a car right out of uni (and his parents just bought him an apartment so he lived in a different world).
He was telling me how this watch is gonna increase in value so it’d be stupid not to get it.
I never said it and only thought about it, but I was thinking that if you were buying it as an investment, why are you wearing it? Why not keep it at home？ It could get stolen or lost or broken. But I guess I have brokey mentality.
Your friend is a poser, and was probably buying fake reproduction rolexes to impress ppl.
Past a certain level of wealth, it might make sense to invest in some really expensive jewelry just as an emergency and liquid wealth store.
Consider the US right now with its volatile political situation. Or any other country with volatile and uncertain politics. Or just uncertainty from major national disasters. People sometimes need to flee from disasters on short notice.
For a normal person, carrying around $100k worth of jewelry on your person would be foolish. For most middle class people, that would a substantial portion of your wealth that they’re walking around risking. But imagine your net worth is $50 million. Now that $100k worth of jewelry you wear every day is only 0.5% of your net worth. But if you need to bug out of your city or flee the country for some reason, you now carry around with you the means to do so. International money transfers can take time, and bank accounts can be frozen. But if you have $100k in jewelry just on your person, you have a liquid form of emergency bugout money. You can get on a plane with nothing but the clothes on your back, fly to a far off country, and immediately have access to enough resources to get yourself set up. Even if your accounts or frozen or your nation’s banking system has collapsed, you can pawn some of that jewelry off to obtain essentials like food, shelter, etc.
I think a fair number of rich people like having this amount of jewelry for the same reason that they often like having multiple passports. The odds of having to ever flee the country are low. And for most people, maintaining the means to flee the country at a moment’s notice is simply too much. But when the cost is a tiny portion of your net worth, putting what is the equivalent of pocket change into the ability to quickly flee a country isn’t so unreasonable anymore.
I’d be way more impressed by the Sega watch to be honest. I probably couldn’t spot a Rolex if you put a gun to my head anyway.
The guy with the Rolex will just tell you he’s wearing one. That’s how it works.
Rolex is a watch that poor and middle class people think is a rich person’s watch.
Most well-known “luxury” brands are. Real rich person’s brands won’t even bother selling to the poor. There’s currently a meltdown among the middle class because Hermes is laughing them out of the store. It’s quite funny.
It’s because they pronounce it Her-Meeez -hair flip-
Seriously. Past a certain level of wealth, you don’t even need to buy brand-named items for most everyday things. You don’t buy a suit from an expensive brand. You hire a world-class master tailor to custom make you a suit from scratch. It’s fit exactly to your body, made to your exact tastes and specifications. The same thing should be possible with watches. You don’t buy an expensive brand, you hire a watch maker to make you an entirely custom piece.
I’d imagine that’s pretty rare with watches. I’d guess if they aren’t just wearing an apple or Samsung watch, they’re wearing something like a Parmegiani.
Sounds pretty cheesy.
In case anyone else wants to look them up, it’s spelled with a third “i” instead of “e” Parmigiani Fleurier
So out of my price range I can’t even afford to spell it correctly.
Just to be clear - Hermes is also a fucking waste of money that serves no purpose other than to signal your membership in a club that has no value to society.
I mean, yes? I didn’t mean to imply otherwise.
For sure, I was just putting a blunt tip on it so nobody would be confused.
Oh, ok. That’s fine, then. I was kinda confused.
All luxury products works that way
Correct
Yeah because luxury doesnt mean quality, pretty sure I could get a custom leather coat from some Amish dude out by Salmon Idaho thatd blow away any luxury leather.
Exactly, if you take off the brand logo of an item, its price would drop significantly.
The item itself is secondary, what’s important is the status it passes to other people. That’s why we find those ridiculous stuff with Supreme brand
This comment makes me want to drive out to Salmon Idaho and buy a custom leather coat.
Yeah, they’re a good example of conspicuous consumption.
Retail workers are doing that? Seems odd.
Not odd. Retail workers at those kind of stores have usually been brainwashed.
Have you never been to a high-end store where the retail workers just act sorta superior to you because they sell expensive things you can’t afford (but at the same time make multiple times less than you because they’re retail workers and you’re not)? It’s that kinda thing. It’s weird af.
They’re paid to act that way. In case a rich is in the store… Can’t have a rich person seeing a poor treated with respect.
It’s all about reinforcing class norms
I don’t know about the luxury brands but I’ve seen people act that way at fucking Zara so I’m sure they’re just deluded assholes because there’s no way Zara pays above minimum wage.
Audemars Piguet is a real rich person brand
Let me give you some real advice, buy a Casio G-SHOCK, pick a version with tiny solar panels. Seriously, they will last a very long time, no need to change a battery or synch it. Strapped my watch on like a decade ago, still works without any maintenance or anything.
That or the Casio Pro-Trek if you want something that’s not the G-Shock
Didn’t know that type, now I might have to get one
I’ve had mine for a good while now and it’s out up with all maner of abuse. Plus mine has a canvas strap that I prefer over metal or silicone.
That or the Casio A168WE if you want something that’s not the G-Shock or the Pro-Trek.
Definitely in the category of “ol’ reliable” in terms of watches but I like the Pro-Trek because of some of the added features like the compass, barometer and altimeter.
Yes! I bought one 15 years ago and it’s still trucking. Solar powered and syncs with an atomic clock so no maintenance. Also while cleaning I found a cheapo battery powered gshock that’s probably just as old if not older, and it was still going and only 8 minutes off. Seriously amazing watches. If I didn’t rely on my smartwatch for sleep tracking and notifications, I wouldn’t wear anything else
Same. Got my G-SHOCK GW-M5610. Basically the ThinkPad of watches. Will never break, throw it in the ocean, smash with a hammer. Still trucks on. Was like $60 when I bought it. Most comfortable watch for travelling and every day use.
That is so cool
Wait what’s the other watch called. I want that
Almost everyone in this thread is talking about wannabe tryhards, investment, and reliable watches, but for people who are interested in the pictured watch, they’re real, but pretty cheap and flimsy; I have a couple.
They came out in gashapon machines a couple of years ago, although I got mine just last year for (IIRC) ¥500 a pop. It’s a series by Takara-Tomy with two models of Saturn (black and white), and two models of PS1 (PSX and PSOne).
dlmag.com/playstation-1-and-sega-saturn-themed-wa…
piggygaga.com/…/gashapon-sega-saturn-playstation-…
Just adding to your post, Japanese yen dont factor in decimals. So if you were to right out 500 yen like we do dollars itd be 5.00 yen, so five bucks.
Me, with my watchy, not givenafuuuuuck bout Rolex.
But yeah that’s some rad nerd chic there.
I absolutely love the design but I’m surprised nobody has pointed out that this goes against the very purpose of wrist watches: you can’t just turn your wrist and look at the time.
I know it’s just a press of a button, but if only one of your hands is full (depending whether you’re right or left handed) then it gets annoying rather quickly.
As for the Rolex obsession: I’ve lost several watches, but every single time I just re-bought my cheap Casio. I love it and it does the job quite reliably. Also, I personally dislike analog watches.
That was the purpose before the invention of pocket computers pretending to be phones. Now they’re just jewelry. They don’t even need to function anymore.
TBF I still have both. Nothing beats quickly glancing at your wrist (until they develop built in HUD brain chips, so another 2 years). Especially when you’re doing hand stuff anyway.
“go into debt if you have to”
That guy writes like minimum wage
Bought a Casio Data Bank DBC-32B-1ADF “calculator watch” about three years ago for like $30 USD. I get more compliments on that watch than any other piece of clothing/accessory that I own. Started using it as my daily driver watch and it’s genuinely great, a real conversation starter. If anybody wants one, they’re still in production and can be easily bought new on the big retailers’ sites.
Jealous! I’ve wanted a Casio calculator watch since I was a child. Technically my off brand smart watch has a calculator, but it’s not the same.
You can still buy one! You’re an adult now, treat yourself!
I was looking! I probably will. Was looking through the reviews.
Every watch guy will tell you otherwise. And present a spectrum of choices across multiple price bands.
Always buy fakes, if you find a good quality fake. No one will know. Unless you absolutely don’t care about the money.
Exactly, and maybe spend a couple hundred for a Japanese replica and all the functions might work.
What game disk is that?
Just spent a few minutes searching, and I can’t figure it out. The text almost looks like it says Virtua Fighter, but it doesn’t match any image results.
I would prefer Altered Beast
Virtua Fighter 2
Buy a rolex if you want to impress other guys with rolexes. Literally nobody else cares
Or buy a replica, for a very small fraction of the price and see if anyone ever knows the difference.
I have a $350 Japanese made replica of a Patek Philippe Grand Complication, everything works on it. To me it is indistinguishable from the real thing and didn’t cost me $300,000