Reply to How Much To Spend on Engagement Ring?

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[quote=Anonymous]OP, jewelry is, like any luxury good, ephemeral and can never be strictly justified from a monetary perspective. Resale will never be quite what you expect it to be. 20k invested in a diamond ring is never going to pay you back the way 20k invested in the market or part of a downpayment can.

You buy the ring for the utility of it. If it gives you great pleasure to be able to buy an expensive engagement ring because you know it will make her very happy and it is part of a long cultural tradition (I'm aware of the whole marketing element of it, but it's still a common cultural tradition), then go for it.

It's like buying cars. Do you really need to spend the extra 20k on a luxury vehicle when a basic Japanese car does the job just as well? You buy the luxury vehicle for the pleasure it gives you.

In your case, with a 150k income, you have the room to spend 20k on a ring assuming you have healthy savings and assets and only you know how responsible you are with the rest of your finances  that making this one time big payment is something you can justify. If it were me I probably would not spend more than 10k on the ring. But that's me. Then again I have no qualms spending 20k on a great vacation. Just a different utility. [/quote]

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