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exactly . imposing your values on others is the wrong thing to do .
when i won the 5k here years ago i used it to buy a new camera body .. the nikon d800 was 3200 at the time . my wife is in to photography too . when i got my new camera she wanted one two .
so now we are buying 2 cameras and added a lens for more than 8k .
could we have invested that ? sure . would we ? hell no . we both are passionate photographers and this is worth every penny to us .
A relative is planning her wedding. It is going to be a big event where they invite well over 100 of their closest and personal friends and about 50 relatives. Expected cost will be about $30,000. When I told her that spending that much money for a one-day event, she directed me to the Internet and showed me that $30,000 is about average. See link below for information on the average wedding cost in 2018.
(Yes, I know you spent way less than that and so did I, but that is not important to relatives.)
She has the $30,000 sitting in a savings account today ready to spend on the wedding.
I told her that assuming a stock market investment doubled every seven years, if they took that $30K and put it in the stock market instead, that nice wedding may be worth $500,000 in thirty years. That would allow them to retire at age 55 and live a life of leisure for the next 30 years. She told me I was crazy.
(If you would have invested $30,000 in a total stock market fund in January 1988, it would be worth $632,089 today- 30 years later. Future returns could be more or less, who knows.)
$30K for a day of utter bliss and memories that last a lifetime or about $500k 30 years from now?
I say spend it. My sister got married about 30 years ago and it cost about $10K for what sounds like the same average wedding with 150 guests.
If the bride or couple want it, they should do it, it's once in a lifetime, hopefully. I wouldn't spend that much, I would have a smaller party at a smaller venue with good buffet food. It was customary to give cash in that area so I think they probably got back what the wedding cost in cash gifts.
spending more than a couple can afford whether on weddings , travel ,cars , etc is always foolish . everything should be a trade off .
one of our kids bought a much more modest home since they know they like traveling so they plan accordingly . they could have bought far more home but this was the trade off .
Completely agree. The problems arise when people aren't compromising and don't realize that everything IS a trade off. Instead, they want the house AND the wedding when they can't afford only of them. So instead of trading off or waiting or something, they do BOTH.
A longtime boyfriend and I were talking marriage one time. I told him no rings (I don’t wear jewelry) and justice of the peace wedding. I don’t care for big gatherings, particularly when I’m the center of attention. I don’t need a big wedding to make me feel important. He agreed.
They will probably need that 30k down the road for the two Divorce lawyers!
Weekends mean the kids are home from school and the wife is home from work. Although, sometimes I can't wait for Mondays when it is just me and the housekeeper!
If we were to do it over again, we would spend $100 on the wedding and invest the rest of it.
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