How much would you budget for a typical wedding?
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How much would you budget for a typical wedding?
Assuming you have decided to pay the whole cost of your kids wedding, how much would you budget for that? This is obviously a personal preference and there are many many factors (#guests, type of wedding, location, etc) but just from a budget perspective is there anything 'typical' or a 'rule of thumb' we could use for say 100 guests in HCOL large city, typical wedding?
Just browsing older threads on this I see wedding costs ranging anywhere from 3K (viewtopic.php?p=4776033#p4776033) to ~15K (viewtopic.php?p=4775922#p4775922, viewtopic.php?p=4776106#p4776106) to 65K (viewtopic.php?p=4776183#p4776183).
A poll from back in 2009 had most responses in the <10K range (viewtopic.php?t=47304)
Asking because as we calculate our target retirement savings number, we are taking out things like college education and in this case the weddings as 'known large expenditures' we'll cover, and want to make sure our savings for retirement are separate from these expenses. At 10K each we'd just cash-flow it. If its 50K or 100K each we'd want to plan and budget for it early on.
Just browsing older threads on this I see wedding costs ranging anywhere from 3K (viewtopic.php?p=4776033#p4776033) to ~15K (viewtopic.php?p=4775922#p4775922, viewtopic.php?p=4776106#p4776106) to 65K (viewtopic.php?p=4776183#p4776183).
A poll from back in 2009 had most responses in the <10K range (viewtopic.php?t=47304)
Asking because as we calculate our target retirement savings number, we are taking out things like college education and in this case the weddings as 'known large expenditures' we'll cover, and want to make sure our savings for retirement are separate from these expenses. At 10K each we'd just cash-flow it. If its 50K or 100K each we'd want to plan and budget for it early on.
Comparison is the killer of all joy.
- anon_investor
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Re: How much would you budget for a typical wedding?
How rich are you? I went to a $100k+ wedding, but the groom's dad was in finance and that was probably not a lot for them.carloslando wrote: ↑Wed May 12, 2021 5:35 pm Assuming you have decided to pay the whole cost of your kids wedding, how much would you budget for that? This is obviously a personal preference and there are many many factors (#guests, type of wedding, location, etc) but just from a budget perspective is there anything 'typical' or a 'rule of thumb' we could use for say 100 guests in HCOL large city, typical wedding?
Just browsing older threads on this I see wedding costs ranging anywhere from 3K (viewtopic.php?p=4776033#p4776033) to ~15K (viewtopic.php?p=4775922#p4775922, viewtopic.php?p=4776106#p4776106) to 65K (viewtopic.php?p=4776183#p4776183).
A poll from back in 2009 had most responses in the <10K range (viewtopic.php?t=47304)
Asking because as we calculate our target retirement savings number, we are taking out things like college education and in this case the weddings as 'known large expenditures' we'll cover, and want to make sure our savings for retirement are separate from these expenses. At 10K each we'd just cash-flow it. If its 50K or 100K each we'd want to plan and budget for it early on.
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Re: How much would you budget for a typical wedding?
No such thing as a typical wedding.
More info would be required.
Wedding in church with no facility fee or a large
Banquet hall?
Alcohol served? - typically a big adder
Etc.
More info would be required.
Wedding in church with no facility fee or a large
Banquet hall?
Alcohol served? - typically a big adder
Etc.
Re: How much would you budget for a typical wedding?
I told DD how much I would pay towards her wedding. She could have the money or the wedding. She and her SO chose the wedding. I don't know if they spent more than what I gave them.
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Re: How much would you budget for a typical wedding?
Think ours was $30k or so in Lake Tahoe. Was hella fun though.
Thanks in-laws!
Thanks in-laws!
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Re: How much would you budget for a typical wedding?
This is extremely subjective as others have said. I recently got engaged and our plan is to spend $10k or less. Preferably a lot less. We make combined about $100k gross and my parents are willing to pitch in but I don’t want to ask for very much.
My plan is to use an Airbnb to save significantly on venue fees and ignore a lot of traditional “wedding stuff”. Especially anything marketed to weddings specifically. As long as there’s good food, decent booze, and lots of music, that’s enough for us.
My plan is to use an Airbnb to save significantly on venue fees and ignore a lot of traditional “wedding stuff”. Especially anything marketed to weddings specifically. As long as there’s good food, decent booze, and lots of music, that’s enough for us.
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Re: How much would you budget for a typical wedding?
You're not going to get any different answers than the threads you found.
There is no typical.
Some of the sums that people pay for weddings, Bar Mitzvahs, etc. is simply absurd IMO. But my opinion only matters to me.
There is no typical.
Some of the sums that people pay for weddings, Bar Mitzvahs, etc. is simply absurd IMO. But my opinion only matters to me.
Avid user of forums on variety of interests-financial, home brewing, F-150, EV, home repair, etc. Enjoy learning & passing on knowledge. It's PRINCIPAL, not PRINCIPLE. I ADVISE you to seek ADVICE.
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Re: How much would you budget for a typical wedding?
That's what we did. Went to bank, opened up joint checking for bride and groom, deposited $10k and said use what you want, keep the rest but don't ask for more. Worked well and I think they ended up with a little extra at the end to keep/save.
Re: How much would you budget for a typical wedding?
I would just throw in $50k for a conservative estimate. In reality, when the time comes to budget for this wedding, I would imagine that you would look at your overall financial picture and figure out what makes sense from there.
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Re: How much would you budget for a typical wedding?
Most Airbnbs that I have seen prohibit parties. Have you found one that will accommodate a wedding?Impatience wrote: ↑Wed May 12, 2021 5:57 pm My plan is to use an Airbnb to save significantly on venue fees and ignore a lot of traditional “wedding stuff”. Especially anything marketed to weddings specifically. As long as there’s good food, decent booze, and lots of music, that’s enough for us.
Re: How much would you budget for a typical wedding?
I don't think there is a general rule of thumb. I think it's up to you to decide how much value you get out of that money vs. all the other things you could spend it on (honeymoon, house down payment, or just saving it). I will say though, you should absolutely not go into debt for a wedding. If you can't save up in a reasonable amount of time and pay cash, you're spending too much. It's OK to accept family help IMO, as long as it doesn't strain or damage family relationships.
My wife and I got married in 2018. We had a pretty clear idea of what we wanted (one particular international location) and spent about $25,000 all-in, including some indirect expenses like dance lessons, which we got independent enjoyment from. Then and now, it seems like an absolute bargain for a week-long party with ~90 of our family and best friends in one of the most beautiful places in the world. If I had to do it again, I wouldn't change anything. (gross HHI ~$450-500k)
My wife and I got married in 2018. We had a pretty clear idea of what we wanted (one particular international location) and spent about $25,000 all-in, including some indirect expenses like dance lessons, which we got independent enjoyment from. Then and now, it seems like an absolute bargain for a week-long party with ~90 of our family and best friends in one of the most beautiful places in the world. If I had to do it again, I wouldn't change anything. (gross HHI ~$450-500k)
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Re: How much would you budget for a typical wedding?
I figure I’ll just message the owners of a few likely ones and offer a hefty deposit and/or extra cleaning fees. There’s a ton of mansions up for rent in Arizona that have 8+ bedrooms, it’s hard to imagine they aren’t open to holding some kind of event as long as we’re vetted ahead of time and make it worth their while. It should still be cheaper than a formal venue.supalong52 wrote: ↑Wed May 12, 2021 5:59 pmMost Airbnbs that I have seen prohibit parties. Have you found one that will accommodate a wedding?Impatience wrote: ↑Wed May 12, 2021 5:57 pm My plan is to use an Airbnb to save significantly on venue fees and ignore a lot of traditional “wedding stuff”. Especially anything marketed to weddings specifically. As long as there’s good food, decent booze, and lots of music, that’s enough for us.
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Re: How much would you budget for a typical wedding?
The 100K would be more than our annual planned expenses post retirement! We consider ourselves middle-class in a VHCOL area: working towards a 2.5M nest-egg in ~10 years for a early/mid-50's retirement). If thats typical we need to plan, save and start setting money aside for this.anon_investor wrote: ↑Wed May 12, 2021 5:41 pmHow rich are you? I went to a $100k+ wedding, but the groom's dad was in finance and that was probably not a lot for them.carloslando wrote: ↑Wed May 12, 2021 5:35 pm Assuming you have decided to pay the whole cost of your kids wedding, how much would you budget for that? This is obviously a personal preference and there are many many factors (#guests, type of wedding, location, etc) but just from a budget perspective is there anything 'typical' or a 'rule of thumb' we could use for say 100 guests in HCOL large city, typical wedding?
Just browsing older threads on this I see wedding costs ranging anywhere from 3K (viewtopic.php?p=4776033#p4776033) to ~15K (viewtopic.php?p=4775922#p4775922, viewtopic.php?p=4776106#p4776106) to 65K (viewtopic.php?p=4776183#p4776183).
A poll from back in 2009 had most responses in the <10K range (viewtopic.php?t=47304)
Asking because as we calculate our target retirement savings number, we are taking out things like college education and in this case the weddings as 'known large expenditures' we'll cover, and want to make sure our savings for retirement are separate from these expenses. At 10K each we'd just cash-flow it. If its 50K or 100K each we'd want to plan and budget for it early on.
Comparison is the killer of all joy.
Re: How much would you budget for a typical wedding?
Daughter's was about $50K in 2014. I paid half, as she is a young professional. 100 guests in Houston.
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Re: How much would you budget for a typical wedding?
Assume a private venue and banquet hall. Costs cover wedding+reception. Alcohol served.Surfcaster wrote: ↑Wed May 12, 2021 5:53 pm No such thing as a typical wedding.
More info would be required.
Wedding in church with no facility fee or a large
Banquet hall?
Alcohol served? - typically a big adder
Etc.
Comparison is the killer of all joy.
Re: How much would you budget for a typical wedding?
Your budget for your kid's benefit should depend on what you can realistically afford. Your kid can pick up the difference / shortfall (if any).carloslando wrote: ↑Wed May 12, 2021 5:35 pm Assuming you have decided to pay the whole cost of your kids wedding, how much would you budget for that? This is obviously a personal preference and there are many many factors (#guests, type of wedding, location, etc) but just from a budget perspective is there anything 'typical' or a 'rule of thumb' we could use for say 100 guests in HCOL large city, typical wedding?
Just browsing older threads on this I see wedding costs ranging anywhere from 3K (viewtopic.php?p=4776033#p4776033) to ~15K (viewtopic.php?p=4775922#p4775922, viewtopic.php?p=4776106#p4776106) to 65K (viewtopic.php?p=4776183#p4776183).
A poll from back in 2009 had most responses in the <10K range (viewtopic.php?t=47304)
Asking because as we calculate our target retirement savings number, we are taking out things like college education and in this case the weddings as 'known large expenditures' we'll cover, and want to make sure our savings for retirement are separate from these expenses. At 10K each we'd just cash-flow it. If its 50K or 100K each we'd want to plan and budget for it early on.
Re: How much would you budget for a typical wedding?
Your budget for your kid's benefit should depend on what you can realistically afford. Your kid can pick up the difference / shortfall (if any).carloslando wrote: ↑Wed May 12, 2021 5:35 pm Assuming you have decided to pay the whole cost of your kids wedding, how much would you budget for that? This is obviously a personal preference and there are many many factors (#guests, type of wedding, location, etc) but just from a budget perspective is there anything 'typical' or a 'rule of thumb' we could use for say 100 guests in HCOL large city, typical wedding?
Just browsing older threads on this I see wedding costs ranging anywhere from 3K (viewtopic.php?p=4776033#p4776033) to ~15K (viewtopic.php?p=4775922#p4775922, viewtopic.php?p=4776106#p4776106) to 65K (viewtopic.php?p=4776183#p4776183).
A poll from back in 2009 had most responses in the <10K range (viewtopic.php?t=47304)
Asking because as we calculate our target retirement savings number, we are taking out things like college education and in this case the weddings as 'known large expenditures' we'll cover, and want to make sure our savings for retirement are separate from these expenses. At 10K each we'd just cash-flow it. If its 50K or 100K each we'd want to plan and budget for it early on.
Re: How much would you budget for a typical wedding?
For a normal 100-200 person weddingcarloslando wrote: ↑Wed May 12, 2021 6:25 pmAssume a private venue and banquet hall. Costs cover wedding+reception. Alcohol served.Surfcaster wrote: ↑Wed May 12, 2021 5:53 pm No such thing as a typical wedding.
More info would be required.
Wedding in church with no facility fee or a large
Banquet hall?
Alcohol served? - typically a big adder
Etc.
venue - 5-20k
Food catered - 2-7k
Alcohol - 1-5k
Photographer/videographer- 1-5k
Miscellaneous (DJ, decorations, dress, tuxes, cake, etc.)- 3-15k
So if you don’t do anything yourself/friend discount I’d so low end is 10k top end 50k. If you’re over 50k I’d have to imagine you have a ton of guests or some over the top venue/menu/alcohol selection.
Re: How much would you budget for a typical wedding?
This jives with what the people I know have spent: https://www.theknot.com/content/average-wedding-cost.carloslando wrote: ↑Wed May 12, 2021 6:25 pmAssume a private venue and banquet hall. Costs cover wedding+reception. Alcohol served.Surfcaster wrote: ↑Wed May 12, 2021 5:53 pm No such thing as a typical wedding.
More info would be required.
Wedding in church with no facility fee or a large
Banquet hall?
Alcohol served? - typically a big adder
Etc.
- anon_investor
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Re: How much would you budget for a typical wedding?
$100k is definitely not typical. My point was $100k for a wedding for someone who makes a couple of million a year is not a big deal, but for others it is a lot!carloslando wrote: ↑Wed May 12, 2021 6:24 pmThe 100K would be more than our annual planned expenses post retirement! We consider ourselves middle-class in a VHCOL area: working towards a 2.5M nest-egg in ~10 years for a early/mid-50's retirement). If thats typical we need to plan, save and start setting money aside for this.anon_investor wrote: ↑Wed May 12, 2021 5:41 pmHow rich are you? I went to a $100k+ wedding, but the groom's dad was in finance and that was probably not a lot for them.carloslando wrote: ↑Wed May 12, 2021 5:35 pm Assuming you have decided to pay the whole cost of your kids wedding, how much would you budget for that? This is obviously a personal preference and there are many many factors (#guests, type of wedding, location, etc) but just from a budget perspective is there anything 'typical' or a 'rule of thumb' we could use for say 100 guests in HCOL large city, typical wedding?
Just browsing older threads on this I see wedding costs ranging anywhere from 3K (viewtopic.php?p=4776033#p4776033) to ~15K (viewtopic.php?p=4775922#p4775922, viewtopic.php?p=4776106#p4776106) to 65K (viewtopic.php?p=4776183#p4776183).
A poll from back in 2009 had most responses in the <10K range (viewtopic.php?t=47304)
Asking because as we calculate our target retirement savings number, we are taking out things like college education and in this case the weddings as 'known large expenditures' we'll cover, and want to make sure our savings for retirement are separate from these expenses. At 10K each we'd just cash-flow it. If its 50K or 100K each we'd want to plan and budget for it early on.
Pay what you can afford or want too, whichever is less.
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Re: How much would you budget for a typical wedding?
In a MCOL area, that will be about 40k- 50k for 150 people in today’s dollars. You can have a wedding for just about any dollar amount. It comes down to what you want, what you are willing to skimp on, etc.carloslando wrote: ↑Wed May 12, 2021 6:25 pmAssume a private venue and banquet hall. Costs cover wedding+reception. Alcohol served.Surfcaster wrote: ↑Wed May 12, 2021 5:53 pm No such thing as a typical wedding.
More info would be required.
Wedding in church with no facility fee or a large
Banquet hall?
Alcohol served? - typically a big adder
Etc.
Re: How much would you budget for a typical wedding?
It depends on the kids. There's no such thing as a typical wedding.carloslando wrote: ↑Wed May 12, 2021 5:35 pm Assuming you have decided to pay the whole cost of your kids wedding, how much would you budget for that?
I've been to some that cost <$10k
I've been to others that cost well over $50k
I know of one that we didn't attend that was a destination wedding with a cost approaching $100k.
It's like asking "how much does a house cost?" It depends...
How much do you want to contribute? Start there.
How much did your wedding cost?
Last edited by JoeRetire on Wed May 12, 2021 6:47 pm, edited 2 times in total.
This isn't just my wallet. It's an organizer, a memory and an old friend.
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Re: How much would you budget for a typical wedding?
I’d say $25k in today dollars for a typical, modest, ceremony and reception.
If you want to include rehearsal dinners, honeymoon, etc it could balloon to an unfathomable amount.
Secondly if you tell your child her $25k, anything beyond is on you, and they are anything but appreciative and grateful I would say there could be some other entitlement issues at play.
If you want to include rehearsal dinners, honeymoon, etc it could balloon to an unfathomable amount.
Secondly if you tell your child her $25k, anything beyond is on you, and they are anything but appreciative and grateful I would say there could be some other entitlement issues at play.
Re: How much would you budget for a typical wedding?
I'd ballpark $20K bare minimum for the kind of event where one rents a modest event space and pays for dinner catering with beer/wine, and prints invitations, basic attire for bride/groom, florist, photographer, DJ, etc. But much, much more could easily be spent for the fancy versions of these things. And much less could be spent for a more creative, DIY or casual approach.
Last edited by leeks on Wed May 12, 2021 7:18 pm, edited 1 time in total.
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Re: How much would you budget for a typical wedding?
I'd budget $50k to be conservative but I think a typical range would be $20k to $40k.
I agree with the poster above about setting an amount like $25k then have them pay for anything they want more than that. Weddings are usually overpriced and go by too quickly. If they value a fancy wedding then let them help pay for it.
I agree with the poster above about setting an amount like $25k then have them pay for anything they want more than that. Weddings are usually overpriced and go by too quickly. If they value a fancy wedding then let them help pay for it.
Re: How much would you budget for a typical wedding?
Get real numbers, instead of guesses. Request a quote from the wedding planning site for Catalina, The Island of Romance. That's a common venue for "100 guests in HCOL large city, typical wedding."carloslando wrote: ↑Wed May 12, 2021 5:35 pm Assuming you have decided to pay the whole cost of your kids wedding, how much would you budget for that? This is obviously a personal preference and there are many many factors (#guests, type of wedding, location, etc) but just from a budget perspective is there anything 'typical' or a 'rule of thumb' we could use for say 100 guests in HCOL large city, typical wedding?
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Re: How much would you budget for a typical wedding?
Ours was ~$150-160k for roughly 350 people in Dallas. No cost for the venue. Band was $10k+, flowers another $5-10k. Way too many variables to get a typical number--sit down, buffet, or food station; all alcohol or just beer and wine; how nice is the alcohol; are you providing transportation for hotel guests; etc. I was at a rehearsal dinner a few months and the flower budget was $15k. I've been at weddings where the total budget was less than $10k. Long story short, it's whatever you want to spend and setting the expectations correctly with your daughter when the time comes.
Re: How much would you budget for a typical wedding?
Off the cuff I’d say $30,000. HCOL area plus what stuff costs right now, maybe up to 50k?
I’d trade it all for a little more |
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Re: How much would you budget for a typical wedding?
$35k 5 yrs ago
MCOL area
Historic Inn with large ballroom
Buffet dinner Full premium bar
DJ, lighting, photographer, videographer
110 guests
MCOL area
Historic Inn with large ballroom
Buffet dinner Full premium bar
DJ, lighting, photographer, videographer
110 guests
Re: How much would you budget for a typical wedding?
I am thinking no more than 15k for my kiddo. I am not a big fan of big weddings, seems like a waste.
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Re: How much would you budget for a typical wedding?
A former coworker, about 25 years ago, paid $40k for her daughter’s wedding. I was about his daughter’s age back then. I told him if I were his daughter, I would rather take the money and use it as a deposit for a house. I’m amazed back then and now how much people spend for weddings.
Re: How much would you budget for a typical wedding?
A wedding can be as expensive or as inexpensive as you like. I'd personally prioritize having the guests you care about attend over the 5K budget for flowers, but each to their own.
I've been to weddings from potluck to 100K black tie things, and can't say that the budget is what makes them memorable for me. YMMV.
I've been to weddings from potluck to 100K black tie things, and can't say that the budget is what makes them memorable for me. YMMV.
Re: How much would you budget for a typical wedding?
$15-$25k easily for “traditional” of that size. Married 3 years ago with similar description.
Could’ve easily been $35k. Great time, good memories....both of us now wish we had simply eloped. Not for the money, just to avoid the planning headaches!
Could’ve easily been $35k. Great time, good memories....both of us now wish we had simply eloped. Not for the money, just to avoid the planning headaches!
Re: How much would you budget for a typical wedding?
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Last edited by Zeno on Sun May 16, 2021 4:10 pm, edited 1 time in total.
Re: How much would you budget for a typical wedding?
We were fortunate, the parking gate at the courthouse was not working so we were waved out at no cost by an employee trying to keep traffic flowing. So it was just the $25 extra charge they added for a brief ceremony to go along with the paperwork.
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Re: How much would you budget for a typical wedding?
We gave each couple $15K toward their weddings (plus a separate wedding gift amount on the day of their weddings). My guess is the spouses' parents added another $10K. In both cases the couples fully planned and paid for their weddings, adding their own funds as necessary. My guess is each couple added $3-5K of there own money, for a total near $30K. Both weddings were at private venues, with dinners, live bands, and bartended liquor. We paid for the rehearsal dinners separately. The weddings were five and seven years ago.carloslando wrote: ↑Wed May 12, 2021 6:25 pm Assume a private venue and banquet hall. Costs cover wedding+reception. Alcohol served.
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Re: How much would you budget for a typical wedding?
That's so financially irresponsible.
The courthouse we got married at had no charge for parking, and the Justice of the Peace didn't have a charge (as I recall), so we only had to pay something like $7.50 for the marriage license.
Of course my mother in-law was not satisfied with this, so 3 months later she put on a full reception at her cost.
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Re: How much would you budget for a typical wedding?
There's your answer. I would personally budget $0 and encourage my children to elope and offer to pay for a small get together in our backyard after. One of the best decisions I ever made was to elope (and it was my wife's idea). To be quite honest, I didn't even know parents are generally expected to contribute to the cost of weddings until I became a member of this board; I'm on my second marriage, never even a consideration that anybody's parents would help pay in either case.carloslando wrote: ↑Wed May 12, 2021 5:35 pm Assuming you have decided to pay the whole cost of your kids wedding, how much would you budget for that? This is obviously a personal preference and there are many many factors (#guests, type of wedding, location, etc)
Re: How much would you budget for a typical wedding?
Mine was around 12,000 with 100 guests in 2017
We did a lot of things ourselves like set-up and tear down
We did a lot of things ourselves like set-up and tear down
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Re: How much would you budget for a typical wedding?
Since the pandemic started, I’ve been to two Zoom weddings. Each was attended by 100+ people and my estimate is that they cost < $1000 each.
Re: How much would you budget for a typical wedding?
Same here. If my kid wants to have a wedding someday, she can spend as much as she can afford.
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Re: How much would you budget for a typical wedding?
DDs married within twelve months of each other around 14 years ago.
Each were around $20,000.
Broken Man 1999
Each were around $20,000.
Broken Man 1999
“If I cannot drink Bourbon and smoke cigars in Heaven then I shall not go." - Mark Twain
Re: How much would you budget for a typical wedding?
$20,000 is the only reasonable answer. It's too much to spend on a wedding and probably too little to afford one. Let the kids decide how much over or under that they want to spend.
I just got married for the first time. The license cost $50 and the ceremony was free at the courthouse. Parking added about $2.50. Couldn't be happier.
I just got married for the first time. The license cost $50 and the ceremony was free at the courthouse. Parking added about $2.50. Couldn't be happier.
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Re: How much would you budget for a typical wedding?
I am a very romantic person. But I encourage my kids to get married at Town Hall if they’re going to bother with a formal marriage at all until much later in life (when it becomes advantageous).
My spend on my two marriages is probably under $100.
True to my nature, I believe in “telling moments.” One of my kids attended two weddings shortly before COVID. One was a dynastic merger, held in a destination city, and probably cost many hundreds of thousands. The other was a young couple of limited means. While the food and entertainment at the first wedding was better, my son’s takeaway was that the second couple better expressed their love and had a better chance of their marriage lasting.
My spend on my two marriages is probably under $100.
True to my nature, I believe in “telling moments.” One of my kids attended two weddings shortly before COVID. One was a dynastic merger, held in a destination city, and probably cost many hundreds of thousands. The other was a young couple of limited means. While the food and entertainment at the first wedding was better, my son’s takeaway was that the second couple better expressed their love and had a better chance of their marriage lasting.
I get the FI part but not the RE part of FIRE.
Re: How much would you budget for a typical wedding?
Ours was under $1,000 (including county clerk fees, where the marriage was officiated).. We have very fond memories of the day.
Re: How much would you budget for a typical wedding?
A man after my own heart.
We spent a few hundred bucks - my wife bought fabric and sewed her dress, we got up early and picked buckets of wild daisies, an aunt baked the cake, etc, so we were high rollers .
But I have a retrospective question on the subject of, say, a $100k wedding. Let's say you are getting married at age 25. You can have a $100k wedding, or invest the $100k. 35 years later, at age 60, that would be perhaps $500k (1.05**35=5.5). With a paid off mortgage etc by then, you can have a pretty nice retirement on $100K a year, so that wedding is the difference between retiring at 60 or working another 5 years to age 65.
Here's the question: how many people, at age 60, would look back and say 'Boy, we're glad we had that wedding. It was lots of fun, easily worth another 5 years of working'?
Re: How much would you budget for a typical wedding?
OP,
It is not my problem. My kids know how to budget and pay for their own wedding. They would feel insulted if I offer to pay for the wedding.
KlangFool
It is not my problem. My kids know how to budget and pay for their own wedding. They would feel insulted if I offer to pay for the wedding.
KlangFool
30% VWENX | 16% VFWAX/VTIAX | 14.5% VTSAX | 19.5% VBTLX | 10% VSIAX/VTMSX/VSMAX | 10% VSIGX| 30% Wellington 50% 3-funds 20% Mini-Larry
Re: How much would you budget for a typical wedding?
whomever,whomever wrote: ↑Thu May 13, 2021 8:07 amA man after my own heart.
We spent a few hundred bucks - my wife bought fabric and sewed her dress, we got up early and picked buckets of wild daisies, an aunt baked the cake, etc, so we were high rollers .
But I have a retrospective question on the subject of, say, a $100k wedding. Let's say you are getting married at age 25. You can have a $100k wedding, or invest the $100k. 35 years later, at age 60, that would be perhaps $500k (1.05**35=5.5). With a paid off mortgage etc by then, you can have a pretty nice retirement on $100K a year, so that wedding is the difference between retiring at 60 or working another 5 years to age 65.
Here's the question: how many people, at age 60, would look back and say 'Boy, we're glad we had that wedding. It was lots of fun, easily worth another 5 years of working'?
<<Let's say you are getting married at age 25. You can have a $100k wedding, or invest the $100k.>>
The problem here is some parent would pay for the 100K wedding but they would not give the 100K to their kids.
KlangFool
30% VWENX | 16% VFWAX/VTIAX | 14.5% VTSAX | 19.5% VBTLX | 10% VSIAX/VTMSX/VSMAX | 10% VSIGX| 30% Wellington 50% 3-funds 20% Mini-Larry
Re: How much would you budget for a typical wedding?
Wife and I spent less than $2k, including rings, clothes,etc..+ 8 guests at local restaurant after short ceremony.