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Successful Trial Lawyer Opts for $40 Timex

By Thomas J. Stanley on Aug 9th, 2011 in Lessons Learned

Ned Davis, 36, is a successful trial lawyer.  Even at this early stage in his career, his tally of legal victories places him in the exceptional category.  Ned was kind enough to share some of his insights about the importance of accessorizing when in the courtroom environment.


 I’m not a big watch guy, but I had wanted to buy a leather-banded, gold watch for some time.  I have a silver/metallic Rolex watch that I received as a gift about 15 years ago and I wanted a gold watch to wear on occasion.  I thought that I could justify spending a couple grand on a new watch because I had never bought one (and my wife even offered to get it for me as a Valentine’s Day present).


After reading Stop Acting Rich, however, I decided that I would not go out and blow several thousand bucks on a fancy gold watch.  I ended up finding a Timex at the antique dealer/thirft shop at the end of my street.  The one I found had a vintage look (it was from the 1970s) that made it look like a nice dress watch.  The Timex label, however, made it extremely affordable – $40! 


(Note that nationwide the typical millionaire with an investment portfolio of $1M of more paid $149.50 [median] for his most recent watch purchased.  About 1 in 5, 19.9%, paid $40 or less).


Not long after purchasing it I realized how useful it was to have a modestly-priced watch to wear on those occasions when I didn’t want to seem like a fancy-pants lawyer.  When I’m in front of a jury or meeting with a client or witness of modest means, I now prefer to wear the trusty Timex.  I think our clothes and watches (and cars) do send a lot of messages that can be good or bad.  I find that it is better not to have your clothes or watch or jewelry stick out too much in court, and I tell all my witnesses the same thing.


By the way, Stop Acting Rich has also reinforced my decision to keep driving my 2004 Volvo.  I figure I’m saving at least $500-$700 every month I keep driving my 7 year old car!


Ned’s many successes and the well earned respect that goes with them are true badges of achievement.  Uniforms and accessories can be bought in stores, but it’s not the same for one’s list of genuine triumphs in legal (or in any other form of economic) competition.


 

One response to “Successful Trial Lawyer Opts for $40 Timex”

  1. SK says:

    Bravo!

    I’ve worked in sales for years, I’m highly successful and more often than not earn seven figures. My car? A 2008 Acura TL with 95k miles and my wife drives a huge SUV with 150k miles to cart around the kids and the dogs.

    I do live in a “high end” neighborhood and love my home, but at times regret spending so much on it. That said, my portfolio of prferred stocks, growth stocks with nice dividends and triple net leased commercial properties has set me up to walk out tomorrow – though I will not because I want to have a large “make a difference” pot of money to spend later.

    My neighbor? Drives a leased 7 series and a leased Infiniti QX – six months ago he had to turn off his cable.

    Unreal….

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