‘Don’t Save Money, Buy a Rolex’

Don't save money, buy a Rolex. I posted about this on LinkedIn, it blew up, and I got loads of hate for it. A young lad tweeted about it, it went viral. He even said get into debt if you have to. Now I don't agree with getting into debt to buy a Rolex, but let's compare a Rolex to savings. Now first off, I want to talk about the difference between savings and storage. So storing money, in my view, is you protecting money from inflation in the best possible format. That could be Bitcoin, that could be gold or silver, that could be a high-interest savings account, that could be the stock market. But you're storing it to then invest. I have a model: SIM— Store, Invest, multiply. So storing money, i.e., protecting it from inflation and your own emotional spending habits, and then investing it is really smart. And a Rolex Daytona is a brilliant place to store money. It has historical proof. I'll talk about that in a moment. It's physical, you own it, no one can take it away from you. However, saving money, I believe, is not the same as storing it. Because what you've been told about saving money is that you give it to the bank, because that's where you save money, in a savings account. Now, this isn't factually true. Over time, history shows the data, inflation is higher than the savings interest that the banks pass on to you. Do you know, sometimes the interest rate could be 5% but you're getting 0.1% in a business account, you're getting barely 1% in a current account, and you might not even be getting 3% in a standard savings account. Yet the interest is 5% or more. So the banks aren't passing all of the interest rate on to you, they're making a margin on it. And historically, inflation is higher than the savings rate you get when you compare them over time. Which means if you save money in the bank, what that really means is you're loaning money to the bank and they can lend and invest it out. They only have to keep between 4% and 10% of it in the bank liquid. They can earn on the 90% to 96%. They lend it, they invest it, they earn on it. It's your money though. You're taking the risk. What if it What if the banks are insolvent? What if they go bust? Are we really insured? That's a question you've got to ask yourself, because we assume we are, but are we really? But you don't make the margin that they make, and inflation eats your savings. And this is why Robert Kiyosaki says savers are losers. Now I used to think he was being grumpy because he's getting old and he's a bit grumpy, and i.e., they're just loser people. But actually this isn't the case. Savers are losers in the sense that you lose money over time saving money. You don't lose money over time storing money well, protecting it from inflation. And Bitcoin could protect it from inflation, and gold and silver certainly. Gold especially has been beating inflation. The stock market's been really beating inflation. So store it well. Don't let the banks earn on it while you're losing on it, unless you can get a very high interest savings account. And then wait until you can invest. And a Rolex Daytona is one of the best places to store money. Now I'll talk about that in a moment, but I just have to address this because I've had this a couple of times. Someone said to me, oh Rob, you're not looking very well. And someone has said here, please get an image consultant. I've just done my boxing training. I'm walking to get my haircut. I've been exercising. I don't think you care about how I look. I think you care about what I tell you. But thanks for caring about me, saying that I need an image consultant. Tell you what I'll do, I'll get an image consultant for when I do my boxing training. I'll get an image consultant for when I go down the gym and sweat, shall I? Anyway, so I bought a 1979 Rolex Daytona, and back then they were probably less than a grand. They were probably about 800 quid. And 2022, that Rolex was worth £85,000. And I paid a lot less than that. And, um, in the banking crash of 2008, I was buying Rolex Daytonas for about 5, 5.5, and 6 grand. That same model, the 116520, that same model, uh, has probably doubled and then halved again. Rolex put their prices up 5 to 8% every year, so really that's like 5 to 8% inflation. So actually Rolex Daytonas got all steel, not bi-metal, and weirdly at the moment gold. Gold Rolex Daytonas used to drop a lot. Now gold Rolex Daytonas are going wild. So if you buy the right Rolex Daytona and you don't want to buy a gray market one that's 10 grand over list and you just buy them periodically, I believe that's a better storage of money than a savings account because savers are losers. And that— people went wild on LinkedIn when I talked about this because obviously they've been programmed and indoctrinated that, you know, you save money by putting it in the bank, but you lose money by putting it in the bank. The whole point of saving money is so that you can stop yourself wasting it and then you can be pounced, ready to invest. You will never get rich saving money. It's impossible. You only get rich investing money. So look, if you found this content useful, I've actually done a longer, more detailed video on this on my YouTube channel, my new More Money YouTube channel, and there are 51 other videos on how to make, manage, and multiply money, and it's completely free. So here's what I'm going to do for you. I'm going to share the link. So I've just shared the link in the comments. This is my new, More Money channel. There's currently 51 videos on how to make, manage, and multiply money, how to better invest it, how to better store it, how to beat inflation, how to build wealth, how to protect yourself from, you know, the governments, the central banks, taxes, etc. It's all on my new More Money channel. And actually today I'm going to be giving away some silver coins. So yeah, silver coins on, on that channel. So if you click the link that I've just shared, the YouTube link, subscribe and just leave a comment on the, that video that I've just shared there, which is talking in more detail about Rolex Daytonas and how they beat savings accounts, then you might get a silver coin just for following me. There's, you know, I've got nothing to sell. It's, I'm all just here creating content to help you make, manage, and multiply more money. I'm probably going to go from 1 to 2 videos a week that you could binge listen or watch to 50 of them, and look, you'll get the financial education and knowledge that you're not given in school. So the link is in the comments for my new More Money channel. Go subscribe, leave a comment on the video. I'm going to pick some of you, I'm going to give away silver coins. I do that periodically on the channel just for fun, um, because hey look, it's a good way to invest. Silver coins are a good way to get into investing because You know, they're not very expensive. Silver's quite cheap relatively to its all-time high. So thanks for tuning in. Let me know if you agree or disagree. Have you got any questions or challenges that a Rolex Daytona, the right one, is better than saving money in the bank? There are a couple of caveats. You know, for example, a Rolex Daytona is not as liquid as money in the bank. You know, I do have savings as well. But I have minimum amount of savings and I know that that money is going down. Therefore, it's just for absolute emergencies. I'm not saying every single one of your liquid pounds should be in Rolex Daytonas. Let's be clear on that. So let me know what you think. Um, go and subscribe to the channel, go watch the, the longer video, and go and gobble up the other 51. And thanks for following my work. I really appreciate you. And remember, if you don't risk anything, you risk everything.