This is perhaps one of the more stupid things I have seen. He IS middle class. After all, why should someone have excess money in the bank, when they could be in hock up to their eyeballs? And have to repay it when the next downturn or advanced algorithmic trading puts them out of work? Do you know how much more valuable an IRA is when you start at 21 than when you start at 35? I work in the financial industry. As long as you dress well, and are sharp, he will go about as far. Most people I work with are much more impressed by brains, talent and hard work than a BMW. Spending $$$ like it is going out of style is not going to help much.
did I say bmw, did I say go into debt. If you don't understand what I am saying no problem, some people may get it, some younger guys may profit from it.
I think you also missed the point. Put too much watch on a 21 year old he starts to look too pretentious.
How do people live on a street without a name or number? How do they get their mail? What address do they use for their driver's license?
Don't listen to the hotshots who tell you to live beyond your means, they're probably broke. It won't make you successful. I've met people who made $140k a year and saved $5k of that (a poor savings rate) and it didn't help them the least bit financially. You'll be in a precarious position if you get laid off, and your nice watch won't help you at all.