You’d never know there was a prolonged economic slowdown judging by the latest trend in wedding expenditures: the over-the-top proposal. As if thousands of dollars for rings, jewelry, the big day and the honeymoon to follow weren’t expensive enough, couples are now beginning to trend toward extravagant proposals that employ “proposal planners,” occur on very public stages, and even entail a honeymoon of their own. And while such spendthrift celebration is surely not for everyone, it does offer a striking example of where certain people have their spending priorities. Presumably, those who spend upwards to a mind-boggling $50,000 just on a proposal will have the sense to spend a large multiple of that on financial planning for their family-to-be. Then again…maybe not.
But Waters’ amendment blocking enforcement of the rule is likely a tough sell in the Senate.
The issue has affected large funds as the FAANG stocks have increased in value.
The IBD did not properly register 651 “agents” or file 800 “reportable events” in a timely manner, regulators say.
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