Quote:
Originally Posted by se15679875
1% seems a little low, I agree.
To be honest I think 10% is probably a reasonable figure. As much as it pains me to say this (because it kills me to see the middle class overextend themselves and thus mitigate any possibility of achieving financial freedom) I can conceivably see someone making $100k or $120k buckling down and dropping $1000 on a lower end luxury watch as a one time thing.
$5000 watches are reserved for the ~$500k/year range, which also seems reasonable to me.
And so on and so forth.
10% is a good number, imho.
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I think you can spend more like 50% on a one time investment on a nice timepiece that youre going to wear your whole life. I make far less than 500k and I wear a $5k watch and I didn't overextend myself to buy it.
It's all relative. I think it's crazy that people blow money eating out twice a day and wast their money on small things and intangible things. I save and invest so I can have nice things if I want them and still live debt free.