Engagement Rings

[NemesisX]

Eh I should say median. Averages are brought up by the wealthy are are effectively useless.

[SakhirM4]

Originally Posted by NemesisX

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.

In 1974, I spent less than $1k for two wedding bands and an engagement ring (1/3 carat) from Zale's. My wife loved the rings and we are still wearing them. You don't have to spend your life savings on rings.

[Suds]

Remember that wedding ring can always turn into an expensive ass key fob!

[minn19]

People worry way more about unimportant stuff like this and the wedding plans than things that are actually important for a marriage to work. If you are right for each other and the marriage lasts long enough neither of these things will be remembered enough to even matter.

[Dang3r]

Originally Posted by minn19

People worry way more about unimportant stuff like this and the wedding plans than things that are actually important for a marriage to work. If you are right for each other and the marriage lasts long enough neither of these things will be remembered enough to even matter.

Hear, hear...!

A funny sidefact: My first wedding was divorced after only 4 years, we were much too young and developed in different ways so we split as friends and thats it. But: I kept both rings, took them to a goldsmith, he melted them and made an earring sticker from them. From time to time I use it

[Joekerr]

Originally Posted by Dang3r

Hear, hear...!

A funny sidefact: My first wedding was divorced after only 4 years, we were much too young and developed in different ways so we split as friends and thats it. But: I kept both rings, took them to a goldsmith, he melted them and made an earring sticker from them. From time to time I use it

What is an earring sticker?

[Hawkeye]

Originally Posted by SakhirM4

In 1974, I spent less than $1k for two wedding bands and an engagement ring (1/3 carat) from Zale's. My wife loved the rings and we are still wearing them. You don't have to spend your life savings on rings.

wow, my ring cost more than that

Get whatever ring will make you and your lady happy. My wife didn't want a diamond, but I am more traditional and won out. Blue Nile (mentioned above) is a good place to get a stone and then just have the ring custom made. I got my diamond when I was in Antwerp and saved a few extra $$ from the VAT refund, had the ring custom made here. Definitely over 10% of my gross pay but worth it, she absolutely loves it.

[catcher22]

Originally Posted by Never_Enough

Put that $ in an ETF or buy a house (or a vacation home). Don't drop that on a rock!

I hear ya. I already own a house (well, a condo) and have a good 12 years of equity in it and it's appraised at a nice 600k (got it for 450). I'm renting it out now but will probably sell it and move into a single family house in the coming years. Honestly a 10-13k ring won't break me, hell 20k won't even bother me a bit. But I know kids are expensive as heck and something tells me to just get a reasonable ring and start investing in a college fund for my future kids or something. Can never start too early....

My little brother spent 10k on his engagement ring. My older brother spent 30k on his. That's what happens when you doctors get married i guess.

I'll probably be somewhere right in the middle of that.

[GERMAN M3]

Originally Posted by SakhirM4

In 1974, I spent less than $1k for two wedding bands and an engagement ring (1/3 carat) from Zale's. My wife loved the rings and we are still wearing them. You don't have to spend your life savings on rings.

Well said Sakhir....the idea behind a certain percentage going to an engagement ring sounds ridiculous. This very well might be something that only happens in the U.S.

[Dang3r]

Originally Posted by Joekerr

What is an earring sticker?

Idk the correct english designation...its like a stud, stick it through and cap it behind.

[Joekerr]

Originally Posted by Dang3r

Idk the correct english designation...its like a stud, stick it through and cap it behind.

Ah, ok, I understand.