What I learned From Acquiring A Rolex
It may seem that having a Rolex or an expensive watch wrapped around your wrist sets you apart from the rest of society. Having it does make you feel confident about yourself and elevates the way you carry your image around other people. When people start to formulate ideas in their heads about who you are, what you do for a living and how much you make in a year, it makes you feel significant. While there is truth to this, I do believe that for each and every expensive watch out there carried by a random wrist, there’s a story behind the “choice” and what it signifies to the carrier. It maybe a story of triumph from all the hardships that one had to go through to become successful. It can a story of deceit and felony, where somebody purchased a fake watch and flashes like it’s a real one, they know that they’re only fooling themselves and not the others. In addition, the watch sprouted from doing criminal or illegal activities and signifies one’s status as a high-profile felon. Lastly, it may be a story of remembrance or tradition where somebody died in the family unexpectedly and a watch is something that you wear to remember that special someone. Whatever the reason maybe, a Rolex is not just an expensive watch.
Initially for me, my rolex signified like an Ironman kit that Tony Stark takes with him wherever he goes. Whenever I feel like I need an ego boost, I put it on and I feel like I can save the day. What’s funny is that whenever my wife and I go to the mall and (when she) asks me whether we can take a look inside the shops of big name brands like Chanel, Mayor’s, Cartier, VCA and etc., I don’t normally come in unless I know that I’m wearing my watch. Why, you may ask. Because there is an embarassment that stems within, an intimidation, some sort of emptiness within caused by wearing the watch. It’s a feeling of disappointment.
You never questioned how I was able to acquire my Rolex. You just assumed that I purchased it from a reputable watch store. Well, it did come from a reputable store and the authenticity, without a question. Although, to be frank about it, I “took” or “borrowed” it from my father. My dad had one and I told him one day that I’m going to borrow it from him until I get tired of wearing it. Since my dad and I never really see each other that often, he agreed, knowing that I will take care of an expensive piece that only comes with age. It’s like an heirloom piece for me to remember my father and his extreme hard work and diligence.
At first, it felt wonderful, surreal. My dad has a very good taste in watches. The one he chose particularly looks more expensive than it’s retail value. I carried it with me and wore it like there’s no tomorrow. There would be times where I would intentionally wrap my arms around myself and have the watch-arm resting outside as to show how brilliant the diamonds are. People really do appreciate anything that sparkles. I even caught a lady staring at my watch once and I knew what she was getting into. From time to time, it becomes a conversation starter, people will ask where I got it from and why the bracelet is so different from the rest of the Rolex line up. These silly conversations.
The longer I kept on wearing it, the more the feeling grew inside. What I realized is that since I did not work hard for this watch, I feel like I am not worthy of wearing it. Wearing it just feels like I’m in somebody’s shoes whom I have to fill. On top of that, I am always a believer that it’s better for somebody to be balance-sheet rich than to be income-statement rich, which means that being balance-sheet rich signifies that you have cash/income- generating assets that enable you to create more wealth. More assets rather than liabilities, this is how money is generated. On the other hand, being income-statement-rich means you’re just “short term” rich or you don’t have self-generating assets that work for you while you sleep. You may have fancy sports cars and a nice mansion but other than these depreciating possessions, you’re nothing, like you’re living “paycheck to paycheck.” Moreso, I am guilty that I don’t have enough funds to tell myself that I am well-off already, thus making me feel that I’m not worthy of “backing up” my choice of wearing a Rolex. Before you jump in and start thinking about how you’re going to spend your first $100,000, How much do you really need in order for you to make yourself feel comfortable of wearing a watch? Let’s look into it.
A simple life math, for those who are trying to appear “Rich”
If a Rolex costs $14,000, then the watch should only reflect between 0.1% to 5% (max) of your total net worth, liquid, depending on your living conditions. Meaning that, the purchase of the Rolex will not bring any change or strife to your net worth or lifestyle. If I have all my expenses under control and have $280,000 sitting in the bank, then it would be reasonable for me to give myself a present IF I ACHIEVED A GOAL. I will spend $14,000 on a watch knowing that I will earn it again fast and it would enable me to be inspired to work even harder.
This is the simple life-math that I think is reasonable in order for one to purchase a rolex. I think the generation nowadays care so much of how we look and not with what they are made of. We try to so hard to be focused on the things that are not important just to tell other people that “Hey, I’m in the know.” When I realized that I have no means to wear an expensive watch, I’ve stopped doing it. If it only were quartz and not automatic, then there’s no reason for me to wear it at all. Now, it’s my responsibility to take care of it so I can give it back to my father one day or pass it on to my nephews or my kids.
I stopped wearing expensive things because I came into a conclusion with myself that once I get to the level where I want to be, then that would be the time I would wear something with pride and satisfaction. Maybe that’s the missing link? That there’s no meaningful story behind it. It’s just there because I borrowed it from my father and it does not signify anything. If I get to build my story and know that I’m fully capable of purchasing my own watch, then things will be different. Because just in case somebody asks me, “Where did you buy this? How did you get it? What’s the story?" Then, I can tell and explain myself.
What disappoints me though is that when I wear the watch, I start to compare myself to other people’s achievements. The thing that really upsets me is that some kids have figured it out already while time just passes by on me. You have 17 or 19 or 21 Year-old Forex Gods or Stock Market Millionaires that are already on their way to dominating the world at a young age. Why did I do what I did during those golden times and not think about bigger things? These things frustrate me because having plenty of resources at a very young age can set you light years ahead. I’m not one of them. I don’t want to live a normal life. I always wanted the life where I am at the forefront of discovery or leadership. But because of my character and attitude, well, life has not been what I expected it to be.
If the watch were a gift, formally given to you, then you may see it differently, which by all means, wear it as long as you want.
The issue with wearing such a thing is that you have to back it up with something. But If you decide to purchase and wear an AP Royal Oak in gold which costs between $180,000 -$400,000, then you better be at least $5,000,000 worth. That way, people will not step on you and take you down. Because the moment people know that you’re trying hard, that you’re faking it, that you’re only holding on to your nice car and watch, then you start to appear cheap to them. How many of these “big’ figures do you see on TV or social media that fall into this category? Isn’t it so sad for them to keep up with the Joneses or the Benjamins? They constantly seek for approval from other people. This is the pitfall that I want to avoid. I decided that I would rather live within my means, both financially and how I present myself in public, so that people will not assume anything. It’s better to be under the radar rather than to always be the talk of the crowd.
I really envy those people who are established in their own way that they don’t even have to impress anyone. It’s like what they’ve built and what they’re made of are already enough credentials for them to look at you eye to eye without flinching. Someday, I would like to be like them. If one can give up all the fancy shoes, fancy cars, jewelry and any kind of vanity when you get to the pinnacle, then I would say that you’ve reached enlightenment or self-actualization. After all, you can wear a $30 swatch and be a walking billionaire without people knowing it. That’s the life that I need to have.