Fellow LIW - What is your.......

[bobbin]

Date: 6/19/2008 11:02:50 PM
Author: TheBigT

Date: 6/18/2008 11:19:32 PM
Author: that_someone_special
Anyone else wondering what some of these people do for a living to afford a $25k ring? Or higher? Holy smokes! That''d get me a car.. pay off a third of my school debt.. or something else.. I''d be scared to walk around with a $30k ring.. I''d have to insure not only the diamond but my finger and hand as well

If you''re following the 2-month salary guideline, a $25k ring puts you at a $150,000/yr salary, which is less than what first year law associates at big firms made this year ($160k). So, some of them could be lawyers...

My ring was ''free'' (fiance''s grandmother''s). My dream budget was -- well, a lot more than that!!

$160,000 a year!!!! I am graduating from law next year and for my first job I will be earning around $55,000/year!

Granted it is not at a big law firm, and it is at a graduate entry point but from what I understand the top tier firms in Australia would not pay any more than $70,000 for the first five or so years! A partner may make that much though. I may make $100,000 a year in about 15 to twenty years working in the profession!

On the house deposit front, we are just looking at buying our house sometime between tomorrow and next year. We have $25,000 which is enough for a deposit on a house between $250,000 and $300,000 in the area that I grew up in. Sometimes I am glad I live in a fairly small city in Australia!

 

[Deelight]

Date: 6/20/2008 6:06:09 PM
Author: Bliss
Wow! How do you ladies know how much your FI spent on your rings?


I have no idea and I have never asked. I should ask just to know. I never even thought to ask. I was interested in the carat size and cut cut cut. So long as it in the colorless region I was happy. I should ask! I just know about the appraisals. We never talked about budget because I knew FI could well afford what we both loved. We just talked about the stone and I just said simple setting. Now I know I should have said, ''No monster prongs, please!'' LOL. But to be fair, when he proposed -- he said it was a temporary setting and I could choose whatever my heart desired. Oh, in hindsight I should have asked for fluorescence. It would have knocked the price down and I adore blue tints.


PrePS: 2.5-3 ct.

PostPS: 3.5-4.5 ct

Reality: 2.7ct with an upgrade in a few years.


I just looked up diamond prices and I guess the budget was around $50-60k. It''s kind of insane, now that I think about it. My guess would have been around 40k but diamond prices are way up from what I thought. My FI, all he wants is a comfort fit band for his wedding ring. I was like, ''Don''t you want some bling?'' Nope.


Men''s budget for their w-rings: platinum band

Pre-PS: platinum band

Post-PS: platinum band

Reality: platinum band


LOL

Because I picked the diamond and I guesstimated the price of what the setting will be .

 

[gwendolyn]

I know because I have awesome superhero-like psychic powers!

And because I''m going to help pay for it and pick everything out.

 

[princesss]

Date: 6/21/2008 11:32:18 AM
Author: gwendolyn
I know because I have awesome superhero-like psychic powers!

Gwen, that smiley is awesome! And it suits your Douglas Adams quote wonderfully.

 

[Anna0499]

Date: 6/21/2008 6:07:49 AM
Author: bobbin

Date: 6/19/2008 11:02:50 PM
Author: TheBigT

Date: 6/18/2008 11:19:32 PM
Author: that_someone_special
Anyone else wondering what some of these people do for a living to afford a $25k ring? Or higher? Holy smokes! That''d get me a car.. pay off a third of my school debt.. or something else.. I''d be scared to walk around with a $30k ring.. I''d have to insure not only the diamond but my finger and hand as well

If you''re following the 2-month salary guideline, a $25k ring puts you at a $150,000/yr salary, which is less than what first year law associates at big firms made this year ($160k). So, some of them could be lawyers...

My ring was ''free'' (fiance''s grandmother''s). My dream budget was -- well, a lot more than that!!

$160,000 a year!!!! I am graduating from law next year and for my first job I will be earning around $55,000/year!

Granted it is not at a big law firm, and it is at a graduate entry point but from what I understand the top tier firms in Australia would not pay any more than $70,000 for the first five or so years! A partner may make that much though. I may make $100,000 a year in about 15 to twenty years working in the profession!

On the house deposit front, we are just looking at buying our house sometime between tomorrow and next year. We have $25,000 which is enough for a deposit on a house between $250,000 and $300,000 in the area that I grew up in. Sometimes I am glad I live in a fairly small city in Australia!

Ahhh! The difference is crazy...does law school cost less there? I know there are some law school graduates that work for around $50k/year but most are public interest or government workers. They have student loans for years and years. The average for first year associates at large firms in Indiana is about $120k/year.

 

[bobbin]

Date: 6/21/2008 11:57:26 AM
Author: Anna0499

Date: 6/21/2008 6:07:49 AM

Author: bobbin

Date: 6/19/2008 11:02:50 PM

Author: TheBigT

Date: 6/18/2008 11:19:32 PM

Author: that_someone_special

Anyone else wondering what some of these people do for a living to afford a $25k ring? Or higher? Holy smokes! That''d get me a car.. pay off a third of my school debt.. or something else.. I''d be scared to walk around with a $30k ring.. I''d have to insure not only the diamond but my finger and hand as well

If you''re following the 2-month salary guideline, a $25k ring puts you at a $150,000/yr salary, which is less than what first year law associates at big firms made this year ($160k). So, some of them could be lawyers...


My ring was ''free'' (fiance''s grandmother''s). My dream budget was -- well, a lot more than that!!

$160,000 a year!!!! I am graduating from law next year and for my first job I will be earning around $55,000/year!


Granted it is not at a big law firm, and it is at a graduate entry point but from what I understand the top tier firms in Australia would not pay any more than $70,000 for the first five or so years! A partner may make that much though. I may make $100,000 a year in about 15 to twenty years working in the profession!


On the house deposit front, we are just looking at buying our house sometime between tomorrow and next year. We have $25,000 which is enough for a deposit on a house between $250,000 and $300,000 in the area that I grew up in. Sometimes I am glad I live in a fairly small city in Australia!

Ahhh! The difference is crazy...does law school cost less there? I know there are some law school graduates that work for around $50k/year but most are public interest or government workers. They have student loans for years and years. The average for first year associates at large firms in Indiana is about $120k/year.

There is a scheme available to all students- the Higher Education Contribution Scheme (although I think it is now called teh Higher Education Loan Programme or something like that- HELP). It is basically an interest free (but it goes up wiht inflation) student loan that the taxation dept. oversees. Once you started earning over $35,000 they start taking a percentage of your income through income tax. I will graduate around $35,000 in debt.

That''s almost how much my parent''s first home cost

AND, my parents received a completely free education.