Engagement Ring Saving

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Baltimoran84
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Engagement Ring Saving

Post by Baltimoran84 » Fri Feb 19, 2016 2:29 pm

Hey Bogleheads,

I likely want to buy a ring in the next 12-24 months, do you think I should be investing that money or just going straight savings? My checking/savings account doesn't give me any meaningful interest. I was thinking of putting ~$250/month into a Vanguard Short or Intermediate Term Bond ETF or something similar. Or should I just keep investing like normal and hoping the ring can be financed at 0% for a year or something.

A CD gets you a little bit of interest but I don't have much cash right now so I'm not going to bother with that option.

Any advice on this? Thanks in advance!

flyingbison
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Re: Engagement Ring Saving

Post by flyingbison » Fri Feb 19, 2016 2:31 pm

My recommendation would be to not buy a ring that needs to be financed, or that requires a year or two of saving.

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gasdoc
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Re: Engagement Ring Saving

Post by gasdoc » Fri Feb 19, 2016 2:33 pm

Straight savings. The reason you get very little interest is that there is very little risk. If you need the money in a short time frame, you are interested in protecting your money- not trying to grow it. Congrats!

gasdoc

BHUser27
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Re: Engagement Ring Saving

Post by BHUser27 » Fri Feb 19, 2016 2:35 pm

Since you did say "any advice on this", here is mine...

My wife and I had a long talk about rings when we got married 28yrs ago. We bought rings we felt we could afford at the time. We spent a total of $750. Saving money for house, family and travel were more important to us.

For our 25th anniversary 3 yrs ago I bought her a $10,000 ring as a gesture of renewal of vows and *because we were lucky enough to easily afford it*.

Maybe you have other options?
-----
Good luck & congratulations on finding someone to buy a ring for :beer

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mrc
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Re: Engagement Ring Saving

Post by mrc » Fri Feb 19, 2016 2:41 pm

Here here jepalan!

We bought matching rose gold bands 31 years ago. Never looked back. She didn't want a "sticky up" solitaire for a couple reasons, cost being only one of them. Not saying to find a different gal or anything... :twisted:

If this is what you want, use savings. You won't want to postpone the "ask" because the bond market dipped hard.
Honor to the soldier and sailor everywhere, who bravely bears his country's cause. Honor, also, to the citizen who cares for his brother in the field and serves, as best he can, the same cause. —AL

jpelder
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Re: Engagement Ring Saving

Post by jpelder » Fri Feb 19, 2016 2:50 pm

Use a savings account at Ally or CapitalOne Bank. They're online banks, and each pay 1% interest. It's not much, but you don't want any higher risk level than that if you're buying in a year or two

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simplesimon
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Re: Engagement Ring Saving

Post by simplesimon » Fri Feb 19, 2016 2:52 pm

Are you okay with the possibility of having to buy a lesser ring if the markets don't behave the way you wish it will?

SouthernCPA
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Re: Engagement Ring Saving

Post by SouthernCPA » Fri Feb 19, 2016 2:55 pm

Do not finance the ring. I just saved up for the engagement ring in a savings account. I went with a little over a carat solitaire in a gold band (her preference). A few weeks after you pop the question, the ring is just another piece of jewelry. Don't forget to add an insurance rider to your homeowners policy. My wife nearly lost hers when we were on vacation this past summer in Costa Rica....without insurance in place....

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Toons
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Re: Engagement Ring Saving

Post by Toons » Fri Feb 19, 2016 3:03 pm

Baltimoran84 wrote:Hey Bogleheads,

I likely want to buy a ring in the next 12-24 months, do you think I should be investing that money or just going straight savings? My checking/savings account doesn't give me any meaningful interest. I was thinking of putting ~$250/month into a Vanguard Short or Intermediate Term Bond ETF or something similar. Or should I just keep investing like normal and hoping the ring can be financed at 0% for a year or something.

A CD gets you a little bit of interest but I don't have much cash right now so I'm not going to bother with that option.

Any advice on this? Thanks in advance!
12-24 months
Strictly Savings.
Online savings account.
Ally,Barclays. :happy
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

psystal
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Re: Engagement Ring Saving

Post by psystal » Fri Feb 19, 2016 3:16 pm

Toons wrote: 12-24 months
Strictly Savings.
Online savings account.
Ally,Barclays. :happy
Do exactly this.

On a related note:

1. Ignore the 3 months salary "rule." No one should spend that much on an engagement ring.
2. Like any other gift, it's better if it's personal. My wife's engagement ring is a claddagh that I had made in Ireland for less than $1,500. It's not the shiniest or largest, of course, but while other women are just flaunting their rocks, she deeply treasures hers.

Cyclesafe
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Re: Engagement Ring Saving

Post by Cyclesafe » Fri Feb 19, 2016 3:23 pm

38 years here. When I moved in with three shopping bags, two with clothes one with books, the clothes went into the dumpster.

When we got engaged, we (she) bought an intertwining engagement ring / wedding band, which was pretty minimal. But she liked it. As the years past and I had lots of new clothes (and more books), she would doggedly compete in the bling wars saying that her ring was nevertheless very special to her. The worst she heard was from a thrice married thrice tucked ex-semi hotty who told my wife not to worry - "It will grow". Perhaps a la Kobe Bryant.

Well, she now thinks jewelry, for bling and status sake, is a complete waste of money. And that one should never use the words" jewelry" and "investment" within 24 hours of each other. If anyone suggests financing to you - even if it's your mom - rest assured they do not have your best interests at heart.

By all means save up, take her someplace reasonable and tell her she can have anything in the store she wants. If she goes for the biggest and brightest regardless of cost, put your wallet back in your pants and RUN.
Last edited by Cyclesafe on Fri Feb 19, 2016 3:26 pm, edited 3 times in total.

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dm200
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Re: Engagement Ring Saving

Post by dm200 » Fri Feb 19, 2016 3:24 pm

Baltimoran84 wrote:Hey Bogleheads,
I likely want to buy a ring in the next 12-24 months, do you think I should be investing that money or just going straight savings? My checking/savings account doesn't give me any meaningful interest. I was thinking of putting ~$250/month into a Vanguard Short or Intermediate Term Bond ETF or something similar. Or should I just keep investing like normal and hoping the ring can be financed at 0% for a year or something.
A CD gets you a little bit of interest but I don't have much cash right now so I'm not going to bother with that option.
Any advice on this? Thanks in advance!
Find someone who is very happy (and will be happy in the long run) with a modestly priced ring. IMO, an expensive ring does not contribute towards a long and successful marriage.

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JDCarpenter
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Re: Engagement Ring Saving

Post by JDCarpenter » Fri Feb 19, 2016 4:29 pm

Agree with others. Don't Finance, Don't invest, just save.

Personal call on buying a nice ring, but I also tend to agree with the others on this. (At this point, we could replace the old pawnshop diamond with far better by spending a day or two of our gross income, but ...)
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surfstar
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Re: Engagement Ring Saving

Post by surfstar » Fri Feb 19, 2016 4:48 pm

Cashflow the ring. Otherwise it is overpriced. Seeing eye to eye regarding finances is one of the reasons we're getting married. Also seeing past the "expectations" of a fancy ring/wedding/dress/etc. I feel for those who aren't as lucky :D

renue74
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Re: Engagement Ring Saving

Post by renue74 » Fri Feb 19, 2016 5:00 pm

You know who came up with the "3 month" rule for rings? The De Beers family...the guys who owned most of the diamond trade. :)

Imagine if Mercedes told you that you really should be spending 2 years salary on your next Mercedes. That's the norm.

mhalley
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Re: Engagement Ring Saving

Post by mhalley » Fri Feb 19, 2016 5:07 pm

Have you considered a lab created diamond? Chemically and physically indistinguishable from a real one, and cheaper.
http://www.brilliantearth.com/lab-creat ... aQodMgMDoA
( no affiliation nor have I purchased)

NET1
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Re: Engagement Ring Saving

Post by NET1 » Fri Feb 19, 2016 5:09 pm

I agree with previous replies advocating for online savings accounts. Don't sweat the three month rule - no one follows that.

It is possible to save quite a bit on the stone by forgoing the traditional local jeweler or main stream chain jeweler. Blue Nile, James Allen, and Whiteflash are reputable sites that operate on lower margins. Pricescope forums are great for learning what to look for when comparing stones. Good luck!

stoptothink
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Re: Engagement Ring Saving

Post by stoptothink » Fri Feb 19, 2016 5:11 pm

mhalley wrote:Have you considered a lab created diamond? Chemically and physically indistinguishable from a real one, and cheaper.
http://www.brilliantearth.com/lab-creat ... aQodMgMDoA
( no affiliation nor have I purchased)
Or not a diamond at all? My wife chose a morganite (a fraction of the cost of a diamond) and kind of started a trend in her social circle. Most of her friends and female cousins went ahead and chose engagement rings with other types of stones.

YttriumNitrate
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Re: Engagement Ring Saving

Post by YttriumNitrate » Fri Feb 19, 2016 5:25 pm

deleted.
Last edited by YttriumNitrate on Sat Mar 12, 2016 12:13 pm, edited 1 time in total.

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dm200
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Re: Engagement Ring Saving

Post by dm200 » Fri Feb 19, 2016 5:36 pm

renue74 wrote:You know who came up with the "3 month" rule for rings? The De Beers family...the guys who owned most of the diamond trade. :)
Imagine if Mercedes told you that you really should be spending 2 years salary on your next Mercedes. That's the norm.
In a way, you have to hand it to them for establishing this "rule". "Marketing" at its best (or worst!)

truenorth418
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Re: Engagement Ring Saving

Post by truenorth418 » Fri Feb 19, 2016 6:28 pm

I have travelled all over the world and one thing I have noticed is that the USA and to some extent Canada are the only countries I have been to that are obsessed with big engagement rings. Some of the most romantic places and cultures in the world don't do anything like this. Big engagement rings are the result of marketing by deBeers but more recently Kay Jewelers and other jewelry corporations - and especially the power of peer pressure where women don't want to be embarrassed in front of their family and friends by wearing a small ring. I've seen this many times - women sitting around a table at a restaurant or bar showing off their rings - none of them want to be THAT WOMAN who has a tiny ring. And of course, the husband doesn't want to hear her complaining about it so he goes along with it. Meanwhile, the divorce rate is still very high, regardless of how big the rings are, so what do those rings really mean anyway?

Here's a suggestion. Buy a nice ring for your fiancee now for a couple of hundred dollars. If she really loves you then she'll be thrilled with the prospect of spending the rest of her life with you and the size and cost of the ring won't make any difference to her.

Then, if the marriage makes it to 10 years, then celebrate that important anniversary by splurging on a bigger, more expensive, multi-thousand dollar ring for her. And at that time she can also show her love for you by buying you something that you want that costs an equivalent amount.

hnzw rui
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Re: Engagement Ring Saving

Post by hnzw rui » Fri Feb 19, 2016 6:42 pm

psystal wrote:1. Ignore the 3 months salary "rule." No one should spend that much on an engagement ring.
I wasn't even aware there was such a rule. I can't fathom spending a quarter year's pay (which would probably be equivalent to the cost of a brand new car for most here) just for jewelry.

warner25
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Re: Engagement Ring Saving

Post by warner25 » Fri Feb 19, 2016 7:02 pm

SouthernCPA wrote:Don't forget to add an insurance rider to your homeowners policy. My wife nearly lost hers when we were on vacation this past summer in Costa Rica....without insurance in place....
I'm of the opinion that insurance is to protect against catastrophic loss, so if you need insurance for a ring because losing it would be a catastrophe (financially), then ring was too expensive.

mhalley
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Re: Engagement Ring Saving

Post by mhalley » Fri Feb 19, 2016 8:41 pm

OTOH you have to admire a company that can take a stone that is so full of impurities it has turned from a dazzling clear to a brown and market as a wonderful "chocolate" diamond. I can think of other things that color that describe it better.

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Wildebeest
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Re: Engagement Ring Saving

Post by Wildebeest » Fri Feb 19, 2016 8:43 pm

We never bought engagement rings. Our wedding rings cost $ 100 for the two of us bought 34 years ago and we still wear them.

An academic study from Emory University showed an inverse relationship between the cost of an engagement ring and a succesful marriage http://papers.ssrn.com/sol3/papers.cfm? ... id=2501480

It is amazing what a DeBeers marketing campaign can do.
The Golden Rule: One should treat others as one would like others to treat oneself.

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LowER
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Re: Engagement Ring Saving

Post by LowER » Fri Feb 19, 2016 9:03 pm

Isn't there a study showing an inverse relationship between engagement/wedding ring cost and marriage longevity, or was that cost of wedding?

dubsem
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Re: Engagement Ring Saving

Post by dubsem » Fri Feb 19, 2016 9:17 pm

jepalan wrote:My wife and I had a long talk about rings when we got married 28yrs ago. We bought rings we felt we could afford at the time. We spent a total of $750. Saving money for house, family and travel were more important to us.
Keep the engagement ring savings straight cash in a 1% interest savings account (Barclays), and discuss what type of ring she wants. Work with her to try to get the most modest ring possible. There's a fine line between "investing" in the future with a nice ring (a great emotional investment but terrible financial investment), and just blowing dough.
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Katietsu
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Re: Engagement Ring Saving

Post by Katietsu » Fri Feb 19, 2016 9:24 pm

I am getting the impression that most of the answers to this question are written by men.

First, to address the OP, this is a very short term goal with a relatively small amount of money involved, I really would just stash the cash.

The engagement ring is something that will be used/worn 24/7 for hopefully decades. Then, it will likely be passed down to the next generations. It is a place for a solid purchase as opposed to a name brand handbag for a random Christmas gift. It is something that women notice on other women. I do not mean to say that I judge a person in anyway because of their ring. But, in my experience, a woman will be able to tell you what kind of ring the other guests (both men and women) at a dinner party or soccer game are wearing. Many men will not even be able to tell you who is wearing a wedding ring at all.

That said, I agree that three months salary is ridiculous. I agree that the ring should not be financed and that there should be commonsense used in deciding how much to spend. I was engaged at a time when we had little income and would have been upset had my husband gone into debt for my ring. I received a 1/4 carat ring and never had any regrets. But the poster apparently is making close to $100,000 and able to save a great deal for retirement. Unless his soon to be fiance expresses a true desire to have an inexpensive ring, his plan to spend about $5000 on the ring seems an excellent choice.

And it is not "just" jewelry. A relative is currently in hospice. The one material possession she is concerned with is the disposition of her grandmother's wedding band. My neice had a very nice wedding last year. One of the most treasured part of her nuptials is the engagement ring that her husband designed around the diamond that I passed down to her from my mother's, her grandmother's, engagement ring. Don't believe that men are from Mars and women from Venus in general. But it might be true when it comes to weddings.
Last edited by Katietsu on Fri Feb 19, 2016 9:34 pm, edited 2 times in total.

Grogs
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Re: Engagement Ring Saving

Post by Grogs » Fri Feb 19, 2016 9:30 pm

hnzw rui wrote:
psystal wrote:1. Ignore the 3 months salary "rule." No one should spend that much on an engagement ring.
I wasn't even aware there was such a rule. I can't fathom spending a quarter year's pay (which would probably be equivalent to the cost of a brand new car for most here) just for jewelry.
I thought it was a "2-month rule". Maybe it's inflation. But yeah, I make enough now that 3 months would be quite a bit more than I paid for my new car. If I had a girl that actually expected me to spend that much on a ring, I would be running for the hills. I guess the key to the 3-month rule is to get engaged while you're still in school making a few hundred / month at most. :happy

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reriodan
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Re: Engagement Ring Saving

Post by reriodan » Fri Feb 19, 2016 9:32 pm

flyingbison wrote:My recommendation would be to not buy a ring that needs to be financed, or that requires a year or two of saving.
+1, if you are spending more than $500 for a ring, then you are getting ripped off. Invest the money instead and reap the rewards later :D

hnzw rui
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Re: Engagement Ring Saving

Post by hnzw rui » Fri Feb 19, 2016 10:00 pm

Katietsu wrote:I am getting the impression that most of the answers to this question are written by men.

That said, I agree that three months salary is ridiculous.

And it is not "just" jewelry. A relative is currently in hospice. The one material possession she is concerned with is the disposition of her grandmother's wedding band. My neice had a very nice wedding last year. One of the most treasured part of her nuptials is the engagement ring that her husband designed around the diamond that I passed down to her from my mother's, her grandmother's, engagement ring. Don't believe that men are from Mars and women from Venus in general. But it might be true when it comes to weddings.
I'm female. As you've said though, spending 3-months salary on it is ludicrous. Admittedly, I'm not particularly girly and I'm probably closer to cynical than sentimental.
Katietsu wrote:First, to address the OP, this is a very short term goal with a relatively small amount of money involved, I really would just stash the cash.

But the poster apparently is making close to $100,000 and able to save a great deal for retirement. Unless his soon to be fiance expresses a true desire to have an inexpensive ring, his plan to spend about $5000 on the ring seems an excellent choice.
+1. Just put it in an online savings account with 1% yield. One to two years is a very short time to bother with stock or bond mutual funds which might go down in value. It's a relatively small amount anyway. And yes, at his salary, $3000-6000 for an engagement ring is reasonable and there should actually be quite some pretty options at that price point.

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Re: Engagement Ring Saving

Post by LadyGeek » Fri Feb 19, 2016 10:16 pm

My husband gave me his "ex" girlfriend's engagement ring. She never accepted his proposal. I didn't care. We're both engineers, it just made sense. I upgraded to a simple wedding ring when we got married. The engagement ring is in a box somewhere.

That was over 20 years ago, I'm still married to him. No, I'm not going into the details.

OP - 12 to 24 months off is a long time. Acceptance is not a sure thing.
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TheEternalVortex
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Re: Engagement Ring Saving

Post by TheEternalVortex » Fri Feb 19, 2016 10:48 pm

Make sure to ask your (future) fiance what kind of ring she wants. Typically men think that women want more expensive rings than they actually do (of course this is not always true).

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StormShadow
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Re: Engagement Ring Saving

Post by StormShadow » Sat Feb 20, 2016 12:43 am

+1 Savings account

Frisco Kid
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Re: Engagement Ring Saving

Post by Frisco Kid » Sat Feb 20, 2016 7:35 am

OP, I would pay close attention to what the ladies responding here have to say.

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Re: Engagement Ring Saving

Post by Achelois » Sat Feb 20, 2016 7:56 am

mrc wrote:Here here jepalan!

We bought matching rose gold bands 31 years ago. Never looked back. She didn't want a "sticky up" solitaire for a couple reasons, cost being only one of them. Not saying to find a different gal or anything... :twisted:

If this is what you want, use savings. You won't want to postpone the "ask" because the bond market dipped hard.

My husband and I bought matching gold bands as well. I bought his. He bought mine. He got the better end of the deal because I wear a 7 and he a 14.

I always thought engagement rings were a waste of money.

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TxAg
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Re: Engagement Ring Saving

Post by TxAg » Sat Feb 20, 2016 8:07 am

Go with a savings account.

I would hint around or ask what kind of ring she likes. That'll help you get the right ring and properly assess cost.

Just as a data point, I bought my wife a pretty nice ring. She is very frugal and grounded...I don't worry about her being superficial.
Last edited by TxAg on Sat Feb 20, 2016 8:13 am, edited 2 times in total.

stoptothink
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Re: Engagement Ring Saving

Post by stoptothink » Sat Feb 20, 2016 8:08 am

Katietsu wrote:The engagement ring is something that will be used/worn 24/7 for hopefully decades. Then, it will likely be passed down to the next generations.
My wife wears hers to church and when we "go out". The other 5+ days/week she wears a $10 silver band.

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Re: Engagement Ring Saving

Post by stoptothink » Sat Feb 20, 2016 8:11 am

TheEternalVortex wrote:Make sure to ask your (future) fiance what kind of ring she wants. Typically men think that women want more expensive rings than they actually do (of course this is not always true).
By far the best advice in this thread. You'd be surprised how many women think diamonds are just as ridiculous as men do.

jridger2011
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Re: Engagement Ring Saving

Post by jridger2011 » Sat Feb 20, 2016 8:14 am

stoptothink wrote:
TheEternalVortex wrote:Make sure to ask your (future) fiance what kind of ring she wants. Typically men think that women want more expensive rings than they actually do (of course this is not always true).
By far the best advice in this thread. You'd be surprised how many women think diamonds are just as ridiculous as men do.

I've also learned that if your beloved does want a diamond and a specific size of diamond, it is her ring to wear every day and it is something to respect. Have a healthy discussion of what the expectations are for something like this, getting married is serious and engagements are not a surprise, but date/place/time of day is.

tibbitts
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Re: Engagement Ring Saving

Post by tibbitts » Sat Feb 20, 2016 8:52 am

Let's face it, this is Bogleheads, and nobody is going to approve of a ring that wasn't once part of a Coca-Cola can pull-tab. Oh wait, I meant a generic store-brand version of a Coca-Cola can pull-tab.

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Re: Engagement Ring Saving

Post by Barefootgirl » Sat Feb 20, 2016 8:56 am

I'm obviously out of step. If a man were to suggest something not expensive (like less than a couple hundred bucks) but ripe with sentiment, I would hug him tight and feel grateful for knowing such a smart guy.

IMO, expensive rings are for chumps (male or female).
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amd2135
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Re: Engagement Ring Saving

Post by amd2135 » Sat Feb 20, 2016 9:51 am

TheEternalVortex wrote:Make sure to ask your (future) fiance what kind of ring she wants. Typically men think that women want more expensive rings than they actually do (of course this is not always true).
I absolutely agree. We did things a bit differently- we simply had a conversation about getting married and no rings were involved at that time. We later went shopping for engagement rings for both of us. She ended up picking out a gold band for $200 and shunned anything with a stone on it.

She would have been very unhappy with the "typical" engagement ring.

Money wasn't the limiting factor here- we're both happily employed as engineers.

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Re: Engagement Ring Saving

Post by afan » Sat Feb 20, 2016 11:42 am

Long time husband here. My wife and I agree on what the cost of her engagement ring was. We disagree in that I remember buying it myself, she thinks she bought it. In any case, it cost $100.

Don't waste your money on absurdly overpriced jewelry. Save it for something useful.


Still married.
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Re: Engagement Ring Saving

Post by jackholloway » Sat Feb 20, 2016 11:54 am

jridger2011 wrote:
stoptothink wrote:
TheEternalVortex wrote:Make sure to ask your (future) fiance what kind of ring she wants. Typically men think that women want more expensive rings than they actually do (of course this is not always true).
By far the best advice in this thread. You'd be surprised how many women think diamonds are just as ridiculous as men do.

I've also learned that if your beloved does want a diamond and a specific size of diamond, it is her ring to wear every day and it is something to respect. Have a healthy discussion of what the expectations are for something like this, getting married is serious and engagements are not a surprise, but date/place/time of day is.
My wife had her hands inside circuitry every day, so wanted a closed setting, and a high grade diamond that fit well in the smaller setting. We had the ring custom made at a gallery.

At the time, it was the most expensive jewelry she owned, and it was worth the freight. It is still her favorite, though since our joint income has tripled since then, we could buy a massive anniversary ring were that what she wanted. She does not, just now.

Buy what brings joy, pay cash, and do not overspend, but do not cheap out unless the recipient wants that as well.

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Re: Engagement Ring Saving

Post by KyleAAA » Sat Feb 20, 2016 12:05 pm

Online savings account. I use Capital One 360 and I like them. Pays 0.75% right now but you can probably do a bit better if you shop around.

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Re: Engagement Ring Saving

Post by 2stepsbehind » Sat Feb 20, 2016 12:35 pm

Katietsu wrote:I am getting the impression that most of the answers to this question are written by men.

First, to address the OP, this is a very short term goal with a relatively small amount of money involved, I really would just stash the cash.

The engagement ring is something that may be used/worn 24/7 for hopefully decades. Then, it will likely be passed down to the next generations. It is a place for a solid purchase as opposed to a name brand handbag for a random Christmas gift. It is something that some women notice on other women. I do not mean to say that I judge a person in anyway because of their ring. But, in my experience, some women will be able to tell you what kind of ring the other guests (both men and women) at a dinner party or soccer game are wearing. Many men will not even be able to tell you who is wearing a wedding ring at all.
Edited to make it more accurate.

I think TheEternalVortex has it right. Ask her (and/or ask one of her close friends who can be discrete if you want it to be a surprise) what she wants. And if you can afford it, get what she likes- don't try to cut corners here, but get the best deal you can (bluenile, costco, etc). Trying to pass off a fake stone if not desired is like someone getting EA NCAA Football when they specifically requested Madden or a Timex watch when they requested an Omega. It is one thing if that's all you can afford, but if you are just being cheap then I predict troubled days ahead.

Rich in Michigan
Posts: 166
Joined: Mon Jun 11, 2012 1:27 pm

Re: Engagement Ring Saving

Post by Rich in Michigan » Sat Feb 20, 2016 12:47 pm

tibbitts wrote:Let's face it, this is Bogleheads, and nobody is going to approve of a ring that wasn't once part of a Coca-Cola can pull-tab. Oh wait, I meant a generic store-brand version of a Coca-Cola can pull-tab.
....that had come from a can that had already been returned to the store for the deposit. The trip to the store had been made on a 1957 bicycle because why spend good money on a car? OK, the bike needs new tires, but those cost money too...better to just keep patching them with duct tape that had been pulled off of an old project.

Katietsu
Posts: 1316
Joined: Sun Sep 22, 2013 1:48 am

Re: Engagement Ring Saving

Post by Katietsu » Sat Feb 20, 2016 1:24 pm

Katietsu wrote:
I am getting the impression that most of the answers to this question are written by men.

First, to address the OP, this is a very short term goal with a relatively small amount of money involved, I really would just stash the cash.

The engagement ring is something that may be used/worn 24/7 for hopefully decades. Then, it will likely be passed down to the next generations. It is a place for a solid purchase as opposed to a name brand handbag for a random Christmas gift. It is something that some women notice on other women. I do not mean to say that I judge a person in anyway because of their ring. But, in my experience, some women will be able to tell you what kind of ring the other guests (both men and women) at a dinner party or soccer game are wearing. Many men will not even be able to tell you who is wearing a wedding ring at all.


Edited to make it more accurate.

I think TheEternalVortex has it right. Ask her (and/or ask one of her close friends who can be discrete if you want it to be a surprise) what she wants. And if you can afford it, get what she likes- don't try to cut corners here, but get the best deal you can (bluenile, costco, etc). Trying to pass off a fake stone if not desired is like someone getting EA NCAA Football when they specifically requested Madden or a Timex watch when they requested an Omega. It is one thing if that's all you can afford, but if you are just being cheap then I predict troubled days ahead.




I completely agree with your edits. I also agree that choosing a ring fits the personality and lifestyle of the bride is important. And I would hope that any boglehead bride to be would be more impressed with how good of a deal was had on the ring than how much was spent on the ring.

It is ironic that my post pushed the thread in the direction it did. I have never owned a ring worth four figures. For many periods of my life, a ring with a protruding stone would have been impractical. At the time I posted though, I felt that the potential significance of the ring to the bride-to-be was being lost in the discussion.

tibbitts
Posts: 7404
Joined: Tue Feb 27, 2007 6:50 pm

Re: Engagement Ring Saving

Post by tibbitts » Sat Feb 20, 2016 1:34 pm

I have never owned a ring worth four figures.

Yes, but in the world of jewelry, that has absolutely nothing to do with whether you ever paid four figures (or even five!) for a ring.
Then, it will likely be passed down to the next generations.
If true, given the human replacement rate for the US at least, wouldn't almost no new rings ever be sold?

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