You must invest in yourself before others invest in you.
Spending money on investments is a great idea, making money from them is the reward you get for taking the risk to begin with. Investing money in yourself is a great idea, and the people you meet and flow in the circles of, are the rewards you receive for investing in yourself.
When you are questioning if buying an exotic car, or a 5 figure watch is a worthwhile investment, then consider that you are not just buying a car or a watch, but rather being admitted into a world of unlimited wealth and possibilities. A world where the price of admission is the image your portray, and whose membership never expires once you are in. I’ve often discussed that those around, also known as your entourage usually hold a significant weight on your decisions and actions, but those around you are usually limited to your day to day functions, and activities like school, work or after work lifestyle. If those functions don’t allow you to entertain higher net worth clients or individuals considered successful by the masses then you are limited to just day to day folks that may not hold much weight or be as well connected as others.
The argument will exist that one’s character is all they need to enter any group/organization and make a presence for themselves, and it is true; but the real problem lies within the amount of time it will take for those around you to warm up to you and choose to trust you. The idea amongst those already established is that success must find success in order to expand, one needs to have credentials similar to a work resume. Your cars, watches, clothes are artificial but do speak very clearly to the level of success you have enjoyed thus far in your life. Others like yourself are receptive to this success and curiosity does strike them too, which leads them to want to get to know you and therefore creates great opportunities and potential partnerships.
The money spent in your watches and cars is only money invested, not money lost. The idea is to understand how to buy these things and not lose money on them, so even if sometimes they are a bit more expensive than what you want to spend, remember that the difference in between a Tissot watch and a Panerai watch is not only in the movement inside the watch but rather who notices it on your wrist.