WatchUSeek Watch Forums banner
1 - 20 of 122 Posts

·
Registered
Joined
·
22 Posts
Discussion Starter · #1 ·
Preface: I'm not trying to be snide, Im merely curious

I more often than not see people with a fairly large collection of watches on this forum. Almost all of the time they have at least 1 or 2 expensive watches (I consider expensive anything over 1500$ish). Sometimes I see people with vast collections of luxury watches (I consider 3500$ and up)



Is WUS just full of successful people? How do you afford all of these pieces? Give me your story



Take it with a grain of salt, Im a 17 year old Suburban kid with a part time summer job, so obviously I am not a functioning adult that gets to choose how he spends his money.
 

·
Registered
Joined
·
315 Posts
i have a very modest collection to many. I'm 30 so I figure I still have some time to acquire the remaining time pieces I desire (only 3 left!). Here is what worked for me and the advice I give to everyone who is around your age. Let me preface this by saying it's only what has worked for me so my perspective is skewed by what has worked for me so you have to understand that.

1) The faster you realize that you can't succeed in everything you put your mind to, the better off you'll be
2) You need to find what it is your relatively decent at, and see how that aligns to jobs/careers where you can make enough money to live the way you envision living. That includes understanding the time it takes to "grind" in something and do all of the unsexy things that give you the opportunity to live the style to buy high end watches for instance
3) Work absolutely harder than anyone else. I routinely even now work more than some of our first years which is unthinkable if you are a first year. If you're not there before everyone and out after everyone in the first part of your career than your wasting it. I would routinely spend the work day interacting with my more senior co workers and learned about everything they did, what worked and what didn't. I would then tend to do my actual work later at night or early in the morning because I spent the main part of my day learning.
4) When you're in career you need to find the aspect that you are most interested in (e.g. what engages you) and has the most upside. I'm in a niche in banking and I happen to chose this niche because my skill set was different than others but that it was in high demand in this area particularly, so that's where I've made my digs.
5) The most important thing is to put yourself out there and push your own edges. If you're not naturally a friendly guy, make yourself the most outgoing guy in the office. If you don't naturally take risks take a bunch of them.
 

·
Registered
Joined
·
22 Posts
Discussion Starter · #5 ·
Thanks for your advice
 

·
Registered
Joined
·
2,319 Posts
Is WUS just full of successful people? How do you afford all of these pieces? Give me your story.
Here are a few things I always try to do with regards to money, success, and luxury purchases.

1. Run a personal budget, and always run 5 to 10 percent in the black. This is inclusive of ALL expenditures: mortgage (or rent), debt payments, investments, etc.
2. Never run a credit card balance. I use my CC like cash. If I don't have the money in the bank, I don't use the card.
3. Pay yourself first. I do not spend one dime until my retirement accounts and mid term investments are fully funded. Investments > Insurance > Mortgage > Auto > the other BS
4. Do not tempt yourself with purchases you can't afford.
5. Never make an impulse buy. Sleep on any purchase that is not yet budgeted.

Those are the principles. The rest should be (but frequently is not) common sense.

Work very hard.
Never say, "I deserve..." You do not deserve anything, you are never entitled, you earn it.
Do not expect anything to be done for you or to "just happen."
Avoid, but do not be intolerant of failure (read: Teddy Roosevelt, The Man in the Arena).
Be intolerant of complacency.
Be critical of yourself.
Know that the end result is what matters. If you fail, the "why" is largely irrelevant. (In other words, don't waste your time delivering or accepting excuses.)

My opinion...it has helped me reach whatever relative level of "success" I currently enjoy. Put it all together, and that is how I have come to own the watches I own, which are not nearly as "blue chip" as some of the others here.
 

·
Registered
Joined
·
4,060 Posts
A lot of great advice here most of which I might only be repeating.

1) I think hard work is number 1. Unless you're lucky to have inherited or won a lot of money then hard work will normally come into it. Of course lots of people work hard so the next trick is as follows:

2) Never turn down the opportunity to learn and develop. If you don't invest in yourself then don't expect anyone else to.

3) Get into an industry that pays well (by qualifying ethically in whatever way necessary) or work for yourself. Preferably the latter.

4) Prioritise where you spend money. I made sure that I owned the house I lived in - was debt free - had a good cash position (which I have ringfenced) BEFORE starting to treat myself. A lot of people on here will have followed the same process before indulging in luxuries - which would have been the same kind of common sense that would have made them money in the first place.

5) Learn to temper your ambition with patience. If you're lucky it will be a long life.

6) Don't spend what you don't have. Like Roller said - try and use your credit card as a convenience only. If you can't pay the bill at the end of the month then don't use it.

7) If you want to enjoy the fruits of your hard work (houses, cars, watches, women) then don't s**t on people on your journey. Not only will you like yourself more - you'll also have the safety net called "friends" to catch you if you fall.

Regards,
 

·
Registered
Joined
·
101 Posts
I work in big Pharma (salary, bonus, stock grants, deferred compensations, pension).

Invest in yourself (i.e. at least one grad degree and not in music history).

If you are not the entrepreneur type, seek out a real growth industry and target the cool companies (I went into Biotech in the 80s).

Add income streams (I got into rental property in Boston and folks have to pay a lot for a roof over their head and a place to pahk the cah).

Save and invest (look for great management. Airgas is a fun example).

Buy a home early in life if it makes sense (a fixed rate loan will allow you to essentially fix your cost of living and as you move up the ladder, you will have much more income to save).

Being married to another professional makes a big difference.
 

·
Registered
Joined
·
736 Posts
I'm 27 years old, I graduated with a 2.6 GPA from Texas A&M University in 2007 with a degree in Business Marketing (definitely not too sterling of a Pedigree), and while I'm not 'rich' I'll make a little over $200,000 this year. My advice for a young guy like yourself is this: If you are at all outgoing, unafraid to meet strangers, and very motivated, consider a career in Professional Sales. I'd recommend selling drilling equipment (what I love), but really it can be anything, several of my friends sell chemical abrasives, HVAC equipment, Medical devices, etc etc. Sales is the great equalizer, if you can sell (with the right company, and the right superiors) you'll get noticed and the sky is the limit. I was a regular ole Sales Rep for 4 years before moving into Sales Managment, and I have to say I love the visibility of sales, when you do well; you know it, and everyone else does because everyone can see the dollars your accounts generate.

HOWEVER, it is a very tough life. I'm married with kids and I travel about 5-6 months out of the year. Some places are nice: Perth, Toronto, Cape Town, Las Vegas, Moscow, Dubai etc etc. Some are okay: Santiago, Lima, Johannesburg, etc, and some are downright awful: Warri, Nigeria; Ulan Bataar, Hassi Messaoud. It's worth it to me because my wife gets to stay home with the kiddos, but it does take a toll on you. When you're young and single, it's an awesome lifestyle.

Maybe some of you guys are smart enough to make money as Doctors, Lawyers, Engineers and Entrepreneurship, but as for my advice; Business to Business Professional Sales all the way!
 

·
Registered
Joined
·
2,178 Posts
I'm 27 years old, I graduated with a 2.6 GPA from Texas A&M University in 2007 with a degree in Business Marketing (definitely not too sterling of a Pedigree), and while I'm not 'rich' I'll make a little over $200,000 this year. My advice for a young guy like yourself is this: If you are at all outgoing, unafraid to meet strangers, and very motivated, consider a career in Professional Sales. I'd recommend selling drilling equipment (what I love), but really it can be anything, several of my friends sell chemical abrasives, HVAC equipment, Medical devices, etc etc. Sales is the great equalizer, if you can sell (with the right company, and the right superiors) you'll get noticed and the sky is the limit. I was a regular ole Sales Rep for 4 years before moving into Sales Managment, and I have to say I love the visibility of sales, when you do well; you know it, and everyone else does because everyone can see the dollars your accounts generate.

HOWEVER, it is a very tough life. I'm married with kids and I travel about 5-6 months out of the year. Some places are nice: Perth, Toronto, Cape Town, Las Vegas, Moscow, Dubai etc etc. Some are okay: Santiago, Lima, Johannesburg, etc, and some are downright awful: Warri, Nigeria; Ulan Bataar, Hassi Messaoud. It's worth it to me because my wife gets to stay home with the kiddos, but it does take a toll on you. When you're young and single, it's an awesome lifestyle.

Maybe some of you guys are smart enough to make money as Doctors, Lawyers, Engineers and Entrepreneurship, but as for my advice; Business to Business Professional Sales all the way!
Only in Texas can you smoke dope, pack guns, travel the world have average grades and still be a millionaire. THANK YOU OIL INDUSTRY :-!


Official Businessperson Suit Spokesperson White-collar worker
 

·
Registered
Joined
·
1,250 Posts
I'm not rich by any means, but I do have a comfortable lifestyle. However it took me a long time to get there because I didn't realise how easy it was to get a high paying job. I was under the misaprehension that people in high paying jobs must be more intelligent than me. This is not the case. I'm not stupid by any means and of course there are plenty of people more intelligent but I didn't believe that I was capable of earning anything more than an average wage. It took a friend who managed to get a job paying double what he was earning to show me the way. It was still a difficult decision to leave the job I had - reasonably well paid and one that I really enjoyed, but I took the plunge and have not looked back. I now believe in myself much more and know that I can hold my own against most of my colleagues. I now earn more than I ever thought I would and I do it with ease.


At 17 you don't know everything (although my teenage daughter apparently does...). Go out and learn, be willing and helpful and you will be rewarded. You can achieve what you want if you know your stuff. You are only held back by self doubt.
 

·
Registered
Joined
·
5,372 Posts
To break it down into its simplest terms. Work hard and play hard. Attend college and make some connections while you are at it. I used to attend as many alumni functions as I could. It doesn't hurt to have friends in high places. However, having your financials and family life in order is more important than the toys you own.
 
  • Like
Reactions: watchinator
1 - 20 of 122 Posts
Top