TGIF: Watches for the Millionaire Next Door

Have you ever read the Millionaire Next Door?  It's a seminal work in wealth building literature by Thomas Stanley and William Danko. The book makes the point that most millionaires who walk anonymously among us aren't concerned with appearances or keeping up with the Joneses. Instead, they are out building businesses or privately saving and investing without fanfare. The book makes the point that upper middle class people are often not actually wealthy because they are mired in the debts that come with maintaining a nice car, a nice house, and the clothing and accessories that keep up the trappings of wealth.

The Millionaire Next Door (Amazon photo)

The book is a tough pill to swallow and its not something that comes easily or naturally to any of us. But, it does serve as a reminder that we don't always have to indulge that urge to buy an expensive watch.  If I was trying to build wealth and become that millionaire, I might want to focus on inexpensive watches for basic needs and redirect the money saved into investments.  What would that millionaire next door watch collection look like? I think it would have to cover the dress watch, everyday watch, and rugged watch categories.  I think we could easily create the collection with just two watches.

In the dress watch and an everyday category, the simplest starter watch would probably be something like the Citizen Quartz Stainless Steel classic.  It's a watch that costs less than $100 and can easily do double duty as a dress watch and everyday watch.

The Citizen Stainless Steel Classic (Amazon Photo)

I have reviewed a similar Citizen watch with a day/date complication at the 3 o'clock position.  The key is to have a watch that is simple and goes with everything and can be worn for nearly every occasion.  This old Pulsar in my collection is also perfect for this role.  While there are less expensive options available, Citizen is a respected and recognizable brand that would likely last a long time and be a solid value.

In the rugged watch category, I'm very tempted to recommend my humble Casio Forester.  Instead, I'll recommend the Casio Tough Solar.  The watch is rugged, ana-digital, and inexpensive.  Also available in black, the Tough Solar can be found here on Amazon.

Casio Tough Solar Watch

I think this watch should hold up well for the up and coming millionaires who are working tough blue collar businesses that accomplish real work.  If it's not enough, the Casio G Shock is the next step up.