This might belong in another thread, but what people consider "being able to afford a gen" likely differs greatly from person to person and is highly subjective.
Someone might have $60k in credit card debt, but have $4k available balance on one of the cards and think, "I can afford that PAM base I've always wanted." Meanwhile they barely make the minimum payments and will either pay off that watch for the next 15 year or file bankruptcy down the line.
Someone else might live in a tiny, shitty 1 bedroom, roach infested apartment in a shady part of town. Drive a beat up clunker, but want that Rolex sub and finds a way to finance it through the AD at 21% interest.
Who knows???
Me? I could likely swing another gen, but I'd rather invest for my future (and my kid's). Sure I could take out a home equity loan and fill my lust for a BUNCH of gens, but I'd rather not. I carry ZERO debt aside from my mortgage and two car loans. The mortgage just started (2 down, 28 to go :roll: ) but I've had a bit of appreciation and I put a nice chunk of money down, so I've got some equity. I also pay extra each month as owning a home outright has got to be one of the best feelings in the world (IMO). The cars will be paid off in the next year or so. Even though that Lexus or Mercedes is calling my name, I'll drive my paid off car for a year or so after it's paid off and sock that money away.
So I guess I could afford a lower end rep fairly easily & pay in cash (low end Rolex, PAM, nice Omega, etc). But to afford a Patek or three - I'd have to dip into investments or a home equity line.
Considering that, I guess you'd have to put me in the camp that really can't afford another gen and that is why I have purchased a few reps. I LOVE watches and this is the only way I can really have the collection I want (at the moment). For the time being, I'll enjoy the gen that I do have and a handful of reps until I can purchase that next gen I really have my eye on (I have a 112 fund). I might purchase another rep or two, but I'm kind of in "un-load mode" right now so I can fund it. It is likley gonna be a PAM, so all my strap purchases are warranted as they will be put to good use on the reps AND the future gen.
I make decent money & owning a gen or two wouldn't raise too many eyebrows (my friends do think the reps I own are gens and who am I to burst their bubble? :lol: ). I'm sure some here make a ton more than me and I'm sure I make a good bit more than others, it really comes down to priorities. I want to be able to play golf when I want, open a nice bottle of wine most nights, smoke great cigars when I feel the urge, go to dinner with my wife and kid-o, etc. Those things mean a little more to me than picking up that next gen at the moment.
Someone might have $60k in credit card debt, but have $4k available balance on one of the cards and think, "I can afford that PAM base I've always wanted." Meanwhile they barely make the minimum payments and will either pay off that watch for the next 15 year or file bankruptcy down the line.
Someone else might live in a tiny, shitty 1 bedroom, roach infested apartment in a shady part of town. Drive a beat up clunker, but want that Rolex sub and finds a way to finance it through the AD at 21% interest.
Who knows???
Me? I could likely swing another gen, but I'd rather invest for my future (and my kid's). Sure I could take out a home equity loan and fill my lust for a BUNCH of gens, but I'd rather not. I carry ZERO debt aside from my mortgage and two car loans. The mortgage just started (2 down, 28 to go :roll: ) but I've had a bit of appreciation and I put a nice chunk of money down, so I've got some equity. I also pay extra each month as owning a home outright has got to be one of the best feelings in the world (IMO). The cars will be paid off in the next year or so. Even though that Lexus or Mercedes is calling my name, I'll drive my paid off car for a year or so after it's paid off and sock that money away.
So I guess I could afford a lower end rep fairly easily & pay in cash (low end Rolex, PAM, nice Omega, etc). But to afford a Patek or three - I'd have to dip into investments or a home equity line.
Considering that, I guess you'd have to put me in the camp that really can't afford another gen and that is why I have purchased a few reps. I LOVE watches and this is the only way I can really have the collection I want (at the moment). For the time being, I'll enjoy the gen that I do have and a handful of reps until I can purchase that next gen I really have my eye on (I have a 112 fund). I might purchase another rep or two, but I'm kind of in "un-load mode" right now so I can fund it. It is likley gonna be a PAM, so all my strap purchases are warranted as they will be put to good use on the reps AND the future gen.
I make decent money & owning a gen or two wouldn't raise too many eyebrows (my friends do think the reps I own are gens and who am I to burst their bubble? :lol: ). I'm sure some here make a ton more than me and I'm sure I make a good bit more than others, it really comes down to priorities. I want to be able to play golf when I want, open a nice bottle of wine most nights, smoke great cigars when I feel the urge, go to dinner with my wife and kid-o, etc. Those things mean a little more to me than picking up that next gen at the moment.
