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In my humble opinion that almost no one will listen to, you shouldn't spend more than 5% of your annual gross income on an engagement ring.
If you want a $10,000 ring you should gross $200,000/year.
The average cost of an engagement ring is $5000-$6000. The average person does not make $100,000-$120,000/year. The average person makes $30,000/year.
The average person has $0 in savings and $0 in retirement. The average person cannot come up with $1000 should an emergency arise.
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