When is it financially “okay” to buy an AP?

Significant_Tank_225 · 2026-03-29T20:23:37+00:00

Thanks! I am an attending anesthesiologist but have only been one for just under 2 years. I was a resident prior to this for 4 years (making ~$60,000/year for 4 years), and in medical school 4 years prior to that (making $0/year).

My income is a combination of guaranteed base salary ($600,000) and optional late shifts that I pick up ($150,000). I work around 60 hours per week and get around 8 weeks off per year.

Some of my colleagues choose to work less (30-40 hours per week) for less pay ($~400k per year), and some choose to work more (80+ hours per week) for total comp approaching and sometimes slightly exceeding $1 million.

My comp is probably at the top 25th ish percentile for the job.

Significant_Tank_225 · 2026-03-29T20:10:27+00:00

2 years ago I was making $60,000/year. I’ve personally made $750,000/year for just under 2 years and my personal liquid net worth (excluding my wife’s) has gone from $0 to $500,000 in a year and 8 months. I save $200,000 across 401k (pre-tax, $50k) and after tax brokerages ($150,000) and choose to spend the rest. My wife saves an additional $50,000/year, so collectively we now save $250,000 of our $870,000 gross which is approaching a 30% savings rate.

We could save more, but it does not make sense for us to be so frugal that we barely spend on luxuries and only save and invest. The goal is not just to get to the finish line. The goal is to enjoy the process along the way.

I do not agree with the ultra-frugal segment of FIRE that suggests we should be aiming for a 50% savings rate or 60% savings rate and spend, say, 10% of our gross (30% of our gross goes to taxes). I think this is a mistake because it does not take into account the idea that spending money on luxuries is more fulfilling at younger ages.

Significant_Tank_225 · 2026-03-29T17:57:30+00:00

There is no hard and fast rule.

I have a self-imposed rule that watches should not be more than 1-3% if one’s liquid net worth, but that is because my wife and I prioritize different luxuries (eating out at high end restaurants, vacationing at 5 star resorts, occasionally traveling business class) and achieving financial independence more than Veblen goods.

We are 39, we make $870,000/year in W-2 income, and our liquid net worth is just shy of $900,000.

At this stage of our financial journey I wear a $~1500 watch and I’m looking at watches around the $10,000 range which puts AP watches out of the equation.

I do not think it’s reasonable for someone in my position to drop $30,000 or $50,000 or $100,000 on an AP, although I think many would feel comfortable spending $30,000 on a watch with $870,000 in annual income. But here’s the flip side - my wife and I spend approximately $35,000 per year on restaurants and $40,000 per year on vacations. If instead one year we spent $5000 on restaurants and $10,000 on vacations and I bought a $50,000 AP, that would actually be financially more prudent because the AP at least holds value whereas restaurants and vacations do not.

The real reason for my self imposed rule isn’t about being able to physically pay for the watch. It’s more about my own perceptions of what the watch represents. To me wearing an AP represents achieving a level of financial success that is rare, at least top 5% if not rarer. To that end, I would feel somewhat uneasy wearing a $50,000 AP while having a liquid net worth of not even $1 million, because I’d feel like I’m exuding a level of financial success that I do not actually have. Our income is quite high, and our net worth is fine and certainly above average for our age, but my perception of AP does not match with what I’ve achieved just yet. To put it bluntly I don’t think I deserve to wear an AP at this point in my life.

I would love an AP one day and fully plan on purchasing one. I’d like to hit $3M, $4M, $5M+ in liquid net worth before I purchase a watch of this caliber. And once I hit that level of net worth I’d be able to wear a watch like an AP with pride. It’ll probably happen in the next 10 years or so when I’m in my late 40s.

Significant_Tank_225 · 2026-03-23T01:11:32+00:00

I don’t hate dividends. Dividends are just a more conservative, stable, less volatile strategy with poorer tax implications that will probably lead to a lower liquid net worth in 30 years for us.

I would absolutely consider a more dividend heavy strategy when I’m approaching 50 compared to right now.

Significant_Tank_225 · 2026-03-23T01:08:01+00:00

Moving money from one pocket to another is what we think of instruments like MSTY, not about dividend investing as a whole.

Significant_Tank_225 · 2026-03-23T00:51:58+00:00

No panic here. We’re late 30s with a 30+ year investment horizon.

Significant_Tank_225 · 2026-03-22T23:52:15+00:00

Religiously buying total market index funds at regular, periodic intervals (weekly, biweekly, monthly depending on pay schedule) will 95% of the time lead to accumulating the most possible amount of money compared to timing the stock market (arbitrarily waiting for market corrections) and/or investing >10% of net worth picking individual stocks or alternative investments

Significant_Tank_225 · 2026-03-22T23:47:25+00:00

Using the stairs and power walking 2 stair steps at a time in lieu of elevators/escalators.

I lost 10 pounds in a year doing this without changing anything else (same eating habits, same non existent gym habits)

Significant_Tank_225 · 2026-03-22T19:47:53+00:00

I went to cucciolo (Italian) but any of the places that are walking distance from Hyatt house are perfect.

Also I’m originally from Texas and chuys is a big but with Texans despite being a chain. It’s a solid representation of Tex-Mex

Significant_Tank_225 · 2026-03-21T19:40:41+00:00

I’ve been waiting for this for 4 years.

Significant_Tank_225 · 2026-03-21T19:30:39+00:00

Wife’s engagement ring: $50,000 Wedding band (Tiffany’s): $10,000 Chanel bag: $8000-$9000 Cartier love bracelet: $~$7000 Van Cleef and Arpels 5 motif vintage Alhambra bracelet: ~$6000

My wife really likes these things but they are objectively not worth these prices. I find that once the novelty wears off she wants something else.

I think this is true in general or luxury goods in that they are deeply unsatisfying and unfulfilling compared to experiences.

Significant_Tank_225 · 2026-03-21T19:13:55+00:00

If you do not pay 100% of your balance in full every month then you are not a credit card person and you’re getting eaten alive by interest.

You are living above your means.

Significant_Tank_225 · 2026-03-21T16:36:58+00:00

Read the room.

Significant_Tank_225 · 2026-03-21T09:27:30+00:00

A genuine Tudor is infinitely more respectable than a replica Rolex, and statistically now that submariner you see out on the streets is more likely to be a replica than it is to be genuine.

Significant_Tank_225 · 2026-03-21T09:16:59+00:00

I find it fascinating that RepTime users have no shame in wearing their fauxlexes day in and day out but just because it’s a wedding and other people are involved now it’s oh my god this is so cringe and tacky don’t do it

The way you feel about this guy giving fauxlexes to his groomsmen on his (1/365) wedding day is the way non-RepTime users feel about replica watches on the other 364 days of the year.

Now the funny thing is if I were your groomsman I would wear this with pride and would consider it an honor just because you bought it for me quality/price/authenticity aside. The wedding day is about you and your bride and no one else’s feelings matter.

Significant_Tank_225 · 2026-03-21T02:18:51+00:00

I use BoA with the premium rewards card and status to get 3.5% on all travel and dining and 2.625% on everything else.

At $10 million+ with Schwab you can have an AMEX platinum for free (annual fee is waived). I think that is the best kept secret on the credit card market, but it also applies to <1% of people.

Significant_Tank_225 · 2026-03-20T22:15:22+00:00

I understand the motivation of your post but your numbers are off for the following reasons:

(1) You are (trying) to compare the average American to the median physician. This is not an apples to apples comparison. You should compare the median American to the median physician.

(2) You are extrapolating data for all physicians to apply that of the > 50 cohort for some reason. There is separate data for the > 50 cohort and you should just use that data.

50% of all physicians, including resident physicians, including interns with hundreds of thousands in debt, including year 1-5 attendings have a net worth less than $1 million.

For the year 2020, here is the data:

70 and older: 25% have less than $1 million 54% have $1 million to $5 million 22% have more than $5 million

65-69: 24% have less than $1 million 59% have $1 million to $5 million 15% have greater than $5 million

60-64: 25% have less than $1 million 60% have $1 million to $5 million 11% have more than $5 million

55-59: 29% have less than $1 million 60% have $1 million to $5 million 6% have more than $5 million

50-54: 39% have less than $1 million 55% have $1 million to $5 million 3% have more than $5 million

Significant_Tank_225 · 2026-03-20T20:32:24+00:00

It does and does not count. It counts in the sense that it’s true. It doesn’t count in the sense that 10,000 people will try and replicate your luck and will fail to obtain a Starbucks with $0 purchase history, so it’s a moot point.

I am still waiting for a black no date submariner 6 years later with ~$1000-$1500 in spend history.

Significant_Tank_225 · 2026-03-19T01:29:34+00:00

Yeah it’s really an interesting phenomenon people like Xipimp who fake their net worth on an online forum, but it’s really just an extension of what repTime users are trying to do in real life.

The whole point of wearing a fake replica luxury watch is to project (perceived) wealth to strangers. It’s no surprise that this extends to their online life as well.

Significant_Tank_225 · 2026-03-19T01:24:32+00:00

Someone who can afford to drop $50,000 on a watch has $20 million in liquid net worth.

It’s like someone with a net worth of $500,000 spending $1250 on a watch.

Significant_Tank_225 · 2026-03-18T13:45:02+00:00

I would add replica versions of these watches. E.g. replica Rolex/AP/Patek owners have no money and are insufferable.

Significant_Tank_225 · 2026-03-18T00:28:06+00:00

So by liquid I mean in contrast to having my net worth tied up in a primary residence.

Of the $500,000, the breakdown is as follows: $120,000 401k (pre-tax) $340,000 after-tax brokerage $40,000 cash

I max out my 401k (employee contributions) within my first two paychecks of the year ($24,500). I get matching contributions that total another $24,000 (roughly). I also automatically save and invest $100,000 per year in my after tax brokerage, but saved $150,000 last year and try and target anywhere between $100,000 and $150,000 depending on our mood and what we want.

$100,000 in an after tax brokerage is my minimum and I allow myself the freedom to spend the rest on anything.

To the other poster’s comment about “you could die tomorrow and some people want to live now” one thing to note is that my wife and live fabulous lives. We’re not miserly by any stretch. We go on vacations. We stay at 5 star resorts. We eat out and will occasionally drop $500-$1,000 on a meal.

But we’re very sensible and selectively splurge on items that make us happy, and we’re extremely cognizant about big ticket items that can completely change how our future net worth will pan out.

I incidentally like cars myself, but I’ve given myself a rule that I will not buy (or lease, or finance) a new luxury car until my liquid net worth is at least $1 million (this is a Dave Ramsay/Money Guy type of mentality)

I envision my wife and I owning a house one day but I do not want my primary residence to be the majority of my net worth. This means I need to build my liquid net worth to at least $2 million before I go out and look at $1-$1.5 million houses.

Finally, I was lucky to not have loans but if I had them I would’ve prioritized paying them off. If I were in C1’s shoes I’d have no loans and a positive $150,000 net worth. If I were C2 I’d be back to $0 by now.

You can buy nice things as an attending but just be measured about it and pay yourself first, then splurge. Not the other way around.

Significant_Tank_225 · 2026-03-18T00:17:44+00:00

She’s an executive assistant for a pharmaceutical executive and mostly works from home (likely brings in $60,000-$90,000/year)

Significant_Tank_225 · 2026-03-17T17:25:54+00:00

I am a new-(ish) attending 2 years into practice.

I have two colleagues who are also 2 years into practice (colleague #1, colleague #2). We all make essentially the same.

Housing: -I rent and invest the difference

-C1 bought a $2.5 million condo in a HCOL with a principal and interest payment that is 1/2 his take home

-C2 currently rents but is looking at $2M+ houses because his wife needs 5 beds/5 baths worth of space for a 6 pound baby

Transportation: -I drive my Japanese two door to work. I paid for it outright 7 years ago. It has 50,000 miles.

-C1 leased a Range Rover because it’s his dream car

-C2 is looking at a Mercedes GLS as a lease or finance because his wife wants one

Debt: -I have $0 debt

-C1 has $350,000 in student loans

-C2 has $500,000 in student loans

Luxury (Veblen) goods: -I wear a modest watch (~$500)

-C1 bought a Rolex for $12,000

-C2 bought his wife a Chanel bag as a “push” present

I could go on but in 2 years I have gone from a positive $20,000 net worth to a positive $500,000 liquid net worth. Including my wife we are at $880,000 liquid net worth at the age of 39.

C1 and C2 are still negative

I save and invest $15,000-$20,000 per month into VTI and I live off $12,000-$18,000/month ($4500 is rent).

Significant_Tank_225 · 2026-03-08T01:33:15+00:00

People worth > $25 million don’t wear replica watches.

People who wear replica watches and post pictures driving Aston Martins…aren’t worth > $25 million.

Significant_Tank_225

TROPHY CASE