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She wanted one that was 10k. Way too rich for my blood, but then I started thinking of it more as a long term investment. Her family has wealth that we will come into (and are very generous already), so if we started this thing out on the right foot I’m sure I’ll reap monetary benefits in the future. So 10k it was. I plan on this working out for life, so if it doesn’t maybe I’m a bad investor
Why do people care so much about what others think? I don't understand the status symbol thing either. Buy something that you think appropriately shows your love for her.
My income is $300k and my fiancé’s is $400k. We live in SF and our combined NW will hit $1mil by end of year. We agreed he wouldn’t spend more than $500 on my ring, mostly bc I showed him how much diamonds are a true ripoff. Got a gorgeous forever-lasting gold ring with a precious gem that isn’t diamond and absolutely love it. Idk, think about the box is my suggestion. Traditional guidance is idiotic.
Just seeing this @ Director 6. We’re both 28 and just started making this much 1.5-2 years ago. So doing pretty well at almost 1M 😛 we max out our 401ks and invest ~ 60-70% of our post tax income.
Just get her a ring pop. That should do it
I recently got engaged so maybe you’ll find this response helpful (slightly higher income but with student debt). In brief - I spent about $13k for rock and setting. 1) have an honest conversation with your future fiancé about expectations and what you can afford based on your collective financial goals. If you’re going to marry her, you should already be talking about your financial future. 2) take her to a jeweler to get an idea of what she likes. Does she prioritize size? Color? Clarity? We did this together, looked at rings that we both openly talked about being too expensive (>3x what I ended up paying) but after that I knew exactly what she liked. 3) go to a local wholesaler. Tell them your budget and general guidelines for what you’re looking for in a ring and they’ll be able help you find something that checks off the boxes. Fiancé’s expectations were around $15k, going through a wholesaler was able custom design the band and get a rock she loves a bit under that.
Less than 10.
Here’s my advice: do some light solo research on local shops in town, then ask a trusted (likely older) (probably male) friend if they have a diamond guy/wholesaler. TX will have many. A local jeweler can set it for you, more bang for your buck. I would say, 3 months salary is typ.
Have her go shopping with you or with a girlfriend to find out what she likes.
If buying not from a store: buy the diamond from someone you trust, where someone you know personally has introduced you.
When did it go from 2 to 3 months’ salary?
Is that gross or net 😂?
She already said what she wants. I think the only really questions left are Tiffany or Tacori. Then which one :)
12 years ago, hubby was working at Big 4 making about 130k and had 150k in savings. I found out that he was about to buy a engagement ring through my one of my girlfriend. I told him not to buy a ring and use that money towards down payment of a house. It was the best decision we made together. We ended up buying a house that I liked a few months before to our small wedding ($10k). Most of his 150k savings went towards the downpayment. He instructed the escrow company to add my name onto the title before we were married, this to me means a lot more than an engagement ring that has no ROI.
Fast forward to today, that 130k downpayment and me foregoing the ring allowed us to trade up on our house. Our current house is valued at $1.8mm with a little more than $1mm in equity. Our combine income is around $600k today and we are beyond fortunate to be able to live comfortably without the need of budgeting expenses. We both came from families with no money so we shared similar beliefs in handling finances which to me is important in a marriage.
Wow!!! Can you adopt me....
I would say 5,000-6,000 as a starting point assuming you’re looking at a diamond engagement ring. That’s enough to get you a good quality 1 carat ring.
I spent $13k cash. 25M/ $99k salary/ no debt/ $80k NW/ living in T3 city
And the ring is absolutely DOPE
Where are people living that they are worried about ‘becoming a target?’ I get it if you buy a 5 carat flawless that’s worth $100k+ and live in a developing country, but 15-20k rings are a dime a dozen in any major US city - pretty sure no one is getting their hands cut off
Turning it inward does hide it. You learn to hold your hand in a way that hides the rock (closed fingers). I flip mine and carry my dogs leash in that hand so it looks like I have a simple gold band on.
Pro
The less you spend, the more she truly loves you.
Take a flight to Russia, pay for a translator and find those Russian engineered diamonds. Even the best experts in the world can't tell the difference. Also diamonds are never really forever. It'll take a few hundred thousand years but they all turn into lead
Rising Star
Michael Scott says 3x annual salary
I was making around $200k and spent $18k.
Whatever you wouldn’t die over if it fell down a drain.
$0
Upto $25k (but it’s always personal obvs)
Actually, one thing that might need consideration is her job. If she’s in the medical field, or biological/chemical research, might want to rethink what the ring needs to look like to not tear the latex gloves that she needs to wear for work. Either that, or be willing to have that worn as pendant instead.
$15k MAXXX
So glad I didn’t marry one of these materialistic women who think that a more expensive tiny rock makes life or the relationship better. Any of these self-important bimbos wouldn’t be able to spot the difference between a cubic zirc and a real diamond.
If a woman requires an expensive ring, she probably isn’t that in love with her SO. Wouldn’t the counter argument to that be that a person who isn’t willing to buy his SO an expensive ring isn’t that in love?
That being said, i don’t think you need to break the bank. I also don’t think this is a matter of what you should spend. You can afford what you can afford. IMO, most jewelry doesn’t really retain its value so it isn’t an investment. That probably changes when you are spending on large/flawless diamonds.
My husband did it brilliantly. He figured out what he could afford/was able to pay without carving into his savings/investments/opening credit. Pretty sure he set a budget and saving routine leading up to the purchase. He told me what the budget was, and i decided what styles/sizes/etc i liked within that realm. I think this worked well because it was me doing my own give and take. If i wanted a bigger rock, i could get a simpler band or go down in the color scale. I gave him a general idea of what i was thinking and he nailed it, under his budget (by almost 5k).
I suggest trying something like that. She may end up changing her mind on needing a specific brand. She may also surprise you and say that she thinks the budget is too high given what your other goals are.
The issue isn’t with jewelry or rings in general, it’s to do with diamonds. Diamond rings depreciate in value massively the moment you walk out of the store with it.
22kt gold jewelry without a diamond depreciates when you walk out of the store with it, but nowhere to the same extent.