Quote:
Originally Posted by Racer-X / 6'er
+1
If you have to "budget" for a toy, you have misplaced priorities. Not being rude, if you want a fine piece of jewelry, by all means get it. The fact that you have to ask this question implies that you are shopping outside of your means.
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I think you're looking at this the wrong way. It's not so much about physically having the means to pay for a luxury good.
The real underlying question is at what point is it
tacky (for lack of a better word) to wear a piece of jewelry that is essentially not commensurate with one's net worth or income?
For example, if someone making $300,000/year was wearing a $30,000 watch, that seems rather tacky. The watch costs nearly 100% of one month's income.
I'd expect someone wearing a $30,000 watch to make at least $5M or $10M/year (EVPs of Fortune 500 companies, or high income wall street guys, etc.)