Help with birthday gift

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First of all, I'm not sure if your husband understands that putting extra money into your mortgage will not necessarily help your current cost of living:

https://www.forbes.com/sites/kristi...gage-wont-lower-your-payment/?sh=49ec782e74e3

Because it won't automatically lower payments. You won't actually benefit until near the end of the mortgage (15 years from now? 20?) when you have paid it off a month or two earlier.

If you need to have a lower mortgage payment each month, you need to either refinance OR recast the mortgage with the lump sum, but that will require permission from the mortgage holder.

You might want to discuss with your husband what he expects to happen when he pays the bank that money and do a little more research. When he sees how it won't affect the month-to-month expenses immediately, he might decide he'd rather have the Speedmaster now!

I agree. If you run the numbers, paying down a mortgage early is usually an inferior investment (unless this is a new mortgage at a high-interest rate). If you're worried about the current economic situation, why tie up your money in illiquid assets? For some reason, people tend to try and do this sort of thing in bear markets, and then miss out when the market rebounds. At least you can unload the watch and recoup some money quickly if you need to! ::stirthepot::


That said, we're all built differently, and I totally get that some people just hate the lingering stress of having debts. For some people it may be the right personal financial decision despite what the math indicates.
 
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New

And to answer the question you'll think of asking next : hesalite

And to answer the one after that: no, just buy some PolyWatch
 
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After reading all of the replies I've decided to sell all my watches and put it into my mortgage. What was I thinking? Damn watches.
 
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After reading all of the replies I've decided to sell all my watches and put it into my mortgage. What was I thinking? Damn watches.

Finally a sensible response.
 
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I always felt a bit guilty spending thousands on a watch. But I always wanted a Speedmaster. I saw Jim Lovell's watch worn on Apollo 8 at the Museum of Science and Industry when I was 10. I got the watch when I was 54, for my 25th Wedding Anniversary. At that time the house was paid off, the kids college accounts were funded. I'm not sure I would have enjoyed the watch as much if I bought it while paying off the house or putting money away for college. But it felt like the right time at my 25th Wedding anniversary and it's what I asked for when my wife asked me what I wanted. Everyone's situation is different. But for me it seemed like the right time.

I went back to MSI recently and Lovell's watch is still there - still presented unceremoniously in the same case with the defecation collection kit.. It was fun to see it again (the watch). And fun to have one of my own on my wrist. Good luck with your decision, OP.

 
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Hi All, I need help. My husband has been lusting after a Moonwatch for at least a decade. I promised him one for his 40th, which is coming up. However with the cost of living, he wants to put money into our mortgage. So now I’m a bit lost. Do I:
-get a new one for him
- get a second hand one that might only be a year or two old.

Any suggestions or tips?

If he's wanted one for 10 years then he knows what he wants.

The thing about Speedmasters is that used, vintage, are great watches. Many people prefer older watches. Your husband might want to get one himself someday even after you buy him a new watch. It's easy to get sucked into the history of these wonderful watches.

While a used watch makes a great gift and can even be a better buy, for a present on a significant date, a new watch is probably a better choice.

This watch is going to be with him the rest of his life, possibly 50 or more years. The steel is going to be smoothed by his skin, with scratches and knicks that will be permanent reminders of a long life. He will likely pass it on to a new generation who will also treasure it. You won't get this kind of return from a mortgage payment.

I bought myself a new Speedmaster for my retirement. I later wore it to my mother's funeral. No possession I own means more to me.

A used watch coming from you will be as special as any gift. He will treasure it no less than a new watch. But if you are able to purchase a new watch, it might be an extra layer of meaning.

New Speedmasters are a bit more expensive than previous versions but they are fantastic watches. They have new technology that make them exceptionally great watches while also including design features from the early moom watches.

If you have a choice, buy the one with a bracelet. They are a bit more than the leather strap but a lot cheaper than trying to buy a bracelet separately later. He can still buy his own leather strap later as he wants to modify things. Straps are not much money.

Life is short.

Best of luck with your decision. Regardless of whether you decide to buy a watch or reduce the mortgage, you have all of our respect and best wishes for a happy birthday celebration and a long and happy marriage.

Cheers.
 
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There's a dozen reasons to consider here. None of which anyone other than you should consider. How stable are your jobs and many other considerations. You should buy the watch with your husband and buy it new in a boutique with the theatre and fantastic experience that will entail. I have several Omega's and I couldn't replace one of them if I happened to lose one for any reason. But that said I rotate them and enjoy every one on its place. Life is short fill you and your husband's with nice things and nicer memories. Money is only money. There's usually enough of it when it's needed.
I have enjoyed your initial post and the sentiments it contains. Buy it together, and new. Then it's his and his alone. G
 
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Turning 40 is a big milestone. A new Speedmaster will be something he will wear for decades and will always cherish it. I say get him the Speedmaster.
 
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Turning 40 is a big milestone. A new Speedmaster will be something he will wear for decades and will always cherish it. I say get him the Speedmaster.

Yes the OP and husband have a lot to celebrate with his 40th coming up and whatever path they take will certainly be better than the one I chose.
I turned 21 in prison doing life without parole. No one could steer me right but mama tried, mama tried.