All you/I need to do is know if you/I can afford X after bills paid. Percentage of net worth is only relevant (see @birkenstocksandcode) if your net worth is low to begin with.
Jewellery vs Net worth
- Thread starter Mishella
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Couldn't agree more!!I'm sure we've all had that uncertainty here. The first 10k bag, the first 50k watch....
Yes, one percent sounds a lot, but you have to start somewhere once. Personally, I see nothing wrong with investing a few percent of net worth in jewelry. But that's more a matter of personal preference. Jewelry definitely gives me more pleasure than the numbers in my stock portfolio (and besides, before my husband spends all our money on his hobbies …..)
I think I’m very much in the minority, but, as long as my Oriental cats and I are well fed, I have nice clothes, and the right standard of living, I spend as much as I can on jewellery..(I have a degree in gemmology specialising in fancy coloured diamonds , which I became interested in at about 13 years old).. but I don’t recommend this as an example to follow although I have a degree in accountancy as well!
I have always sold pieces towards more expensive ones.Another question is that I already have a nice jewelry collection and thinking if I really want to own a piece that expensive or is what I already own enough for me. I’m now thinking about selling a few items that I don’t fancy that much anymore and using the money towards something more substantial.
What are your husband’s hobbies?
I can only wear so much at once-its different for you as married (my fiancé /long term partner developed dementia and we never married)..
Now to help finance a more important piece I sometimes upgrade a piece, sometimes sell some pieces, and put the proceeds towards a new one, then my jewellery collection remains small but develops over time ..only Family pieces don’t get sold, although I Did remount a ring I inherited ..
I’m guessing you have far more jewellery than me-i have 3 South Sea pearl bracelets but no diamond bracelets(I prefer buying rings).
Good luck-i say go ahead, but I’m probably the Last person to take jewellery advice from!xxx
What season of your life are you in?
If you’re in the growing season, where you are building your net worth, I wouldn’t. It’s a time to buy assets that produce income.
If you’re in your season of harvest, where you’re coasting to retirement but you still have income in, buy it! Enjoy your passion investing, and wear your beautiful bracelet.
If you are in the fallow season, where income is reduced, and you are living off your investments, calculate to see what you’re going to have to sacrifice, and decide if the bracelet is worth it.
If you’re in the growing season, where you are building your net worth, I wouldn’t. It’s a time to buy assets that produce income.
If you’re in your season of harvest, where you’re coasting to retirement but you still have income in, buy it! Enjoy your passion investing, and wear your beautiful bracelet.
If you are in the fallow season, where income is reduced, and you are living off your investments, calculate to see what you’re going to have to sacrifice, and decide if the bracelet is worth it.