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Since you are a watch collector (Retirement)

Seiji Lépine
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For most retirement planning, I believe the goal is to reach a certain level of passive income based on current living expenses and a projection of how much inflation and remaining years of life expectancy we estimate.

However, if we want to continue to buy watches well into the very late years of retirement, have you considered how much more you would need in order to keep up buying any watches in your genre.

Anyone setting aside some money for that grail watch(es) for when and if you find them? Obviously that would mean you will stay working longer (I my case maybe add additional 5 years for a watch nest egg)
 
Dan S
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I plan to be at steady-state in retirement, buying and selling equally. 🙄
 
Larry S
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If you are having these conversations in your head, I’d stop buying and start selling. This hobby should never ever move into the space it is now in for you.
 
Seiji Lépine
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Larry S Larry S
If you are having these conversations in your head, I’d stop buying and start selling. This hobby should never ever move into the space it is now in for you.
Well, I'm in a situation where I really can't afford another watch while I am working and not old enough to buy into the big leagues. It's the reverse situation of probably everyone else so I thought it might be interesting to hear other situations. Eventually it will be where selling the watch is harder than just giving them to places and people that appreciates them after I am too old to make sure they don't go into the trash or worse.
 
Larry S
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Seiji Lépine Lépine
Well, I'm in a situation where I really can't afford another watch while I am working and not old enough to buy into the big leagues. It's the reverse situation of probably everyone else so I thought it might be interesting to hear other situations. Eventually it will be where selling the watch is harder than just giving them to places and people that appreciates them after I am too old to make sure they don't go into the trash or worse.
I recommend that you see a financial advisor to help you plan for your retirement/ financial future. From my perspective watches were fun when I was working because I got to wear em. Now they are a pain in the rear to insure, service and store. They play zero role/impact on our retired financial life except that my wife gives me the stink eye when they come up in the asset discussion with our financial advisor.
 
Dsloan
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Seiji Lépine Lépine
For most retirement planning, I believe the goal is to reach a certain level of passive income based on current living expenses and a projection of how much inflation and remaining years of life expectancy we estimate.

However, if we want to continue to buy watches well into the very late years of retirement, have you considered how much more you would need in order to keep up buying any watches in your genre.

Anyone setting aside some money for that grail watch(es) for when and if you find them? Obviously that would mean you will stay working longer (I my case maybe add additional 5 years for a watch nest egg)

Working an extra 5 years for watches sounds totally bananas. That said, I peg my retirement goals to my actual spending currently. I don't try to assume that spending will go down in retirement. If it's not watches, it'll be travel, projects around the house, new hobbies, etc.
 
dsio
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One of the bigger concerns is making sure when you're gone some car-boot watch dealer doesn't buy your whole collection off your family for 5 cents on the dollar. Really need to leave information, instructions and some trusted people's names they can ask for advice.
 
Seiji Lépine
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dsio dsio
One of the bigger concerns is making sure when you're gone some car-boot watch dealer doesn't buy your whole collection off your family for 5 cents on the dollar. Really need to leave information, instructions and some trusted people's names they can ask for advice.
Exactly, I hate to see extremely rare and important watches get sold to a pawnshop because anyone that finds them after my demise will not know what they are. I picked up many watches once from a daughter of a collector that owned more than 200 1950s Heuers, Omegas, and Longines. Some even looked like prototypes. He died of a car accident so had not time to properly handle transfer of his watches to others. But that's another problem that we can't do much about unless we abandon our collections before death happens. Or, it might be fun to donate everything to Goodwill while alive an see who finds them 😀
 
NGO1
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I'm going the opposite direction. As Im moving toward retirement (a decade from now). I found my interest narrowed to very specific 3 watches. It's a slimming down process for me. Any specific watch(es) you are hoping to obtain?
 
Seiji Lépine
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NGO1 NGO1
I'm going the opposite direction. As Im moving toward retirement (a decade from now). I found my interest narrowed to very specific 3 watches. It's a slimming down process for me. Any specific watch(es) you are hoping to obtain?
I have on my list a green Lindberg and a Longine A-7, which would be nice. I am currently on the hunt for another IJN Weems that's been spoted locally.
 
Speed2Sea
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It's really a question of buying within your means regardless if you are working or retired.
 
NGO1
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Speed2Sea Speed2Sea
It's really a question of buying within your means regardless if you are working or retired.
Where's the fun in that. OP is retiring, he doesn't need to eat 3 meals a day.

Seiji Lépine Lépine
I have on my list a green Lindberg and a Longine A-7, IJN Weems.
That A7 is sexy. Id skip a few meals a day and reduce my coke consumption for it. Would you consider liquidate your current collection and moving into a few grail pieces? Maintenance cost of keeping a large stash is a major pain (for me).
 
Scarecrow Boat
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NGO1 NGO1
Where's the fun in that. OP is retiring, he doesn't need to eat 3 meals a day.
And if they do, ramen is perfectly suitable 😜
 
Waltesefalcon
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I find that as I have entered middle age, I am looking to hone my collection down to what truly interests me; in my case watches associated with railroads and aviation. Within the next fifteen years or so, I imagine I will only acquire watches that are in some way special in my eyes.
 
Seiji Lépine
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Well, somehow the conversation turned 180 towards me. And in a way this is still giving me a good perspective, I was wondering how other collectors felt and planned for their retirement and watch collecting. Seems the majority will start divesting as soon as they hit their golden ages. I was thinking of building up some cash before hand and then go wild.

By the way, my wife feeds me ramen often already!
Edited:
 
140dave
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NGO1 NGO1
Yes, this is the right way to retire. Take those weekend shifts. You have my support. First week of ramen is on @Scarecrow Boat.

91hMDE-FfNL._SL1500_.webp
Ohhh you get that fancy "street" ramen, mmmm chili flavor ... wow. Ever try keeping the crumbled ones and sprinkling them on top? Crunch bomb!
(Nine Nine!)

...and yes, plan to keep spending in retirement whether it be for watches or travel or... discretionary funds will be a must have for something.
 
Joe_A
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Seiji Lépine Lépine
Well, somehow the conversation turned 180 towards me. And in a way this is still giving me a good perspective, I was wondering how other collectors felt and planned for their retirement and watch collecting. Seems the majority will start divesting as soon as they hit their golden ages. I was thinking of building up some cash before hand and then go wild.
Plan for retirement as early as you can, of course.

However; you should also do whatever pleases you and ignore any advice to the contrary.

You can't take anything with you . . . but why separate yourself from what you have while you may yet enjoy it?

I am not going to sell anything I enjoy while I am alive.

I think that one of the last things you want to do is to divest yourself of the things you enjoy . . . and then sit around and wait to die.

Unless . . . unless you are the type of person who will actually achieve greater peace of mind in divesting. I'm not that type - not yet anyway.

I didn't actually start buying vintage watches until I hit 65 or so, ten years ago . . . and I plan on picking up a couple more - not many - if or when the mood strikes. I may sell those that I no longer wear. There is no watch that I'd buy that I won't wear as often as I like. Nothing has been purchased to be kept in a safe.

As to what happens when I am gone? I've made provisions for the big things and I have information on what collectible items cost me and what I think they may be worth and how they may be sold on. Some items may become heirlooms perhaps, but if any get sold for 5 cents on the dollar . . . after I have provided information to help move them on, I won't care now, will I?

I have started to divest myself of things that no longer bring satisfaction. So for example, I am selling off some 1/32 scale live steam engines and cars which make up trains. I enjoyed them while I built them or acquired them, but now? Not so much.

Do whatever pleases you as you move from one stage of life to another. Just try not to leave too much of a mess behind. 😉

Cheers.

~ Joe
 
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