All Articles Tagged "engagement ring"
As MN reported before, Kris Humphries planned to get rid of his ex-wife’s engagement ring in a New York auction. Estimates claimed that Kim Kardashian’s old trinket would not surpass $500,000 among bidders. Pricing experts were nearly $250,000 off target!
After bids bounced around four buyers, the reality TV star’s 16-carat diamond ring sold for a whopping $749,000, Today reports. However, sources say that NBA player Humphries doesn’t plan on keeping all of the fortune. He plans to donate a portion to charity. ”The rep adds that Humphries hasn’t decided on which charity to donate the proceeds to, but that it’s a “top priority” for the 28-year-old basketballer,” Today said.
In defense of those who question whether Humphries had the right to sell the ring, a Humphries rep said. ”The ring is indeed Kris’ property that he received through his marriage dissolution. He has long-since moved on and is very much looking forward [...] to returning to the court this upcoming NBA season as a Boston Celtic.”
Kardashian and Humphries got engaged in May of 2011 and wedded on Aug. 20 of the same year. After the marriage lasted only 72 days, the divorce was finalized in June of 2013.
Perhaps it was part of a court order, but if it wasn’t, would you have given the ring back if you were Kim?
You know you’re in love and you know you want to spend your life with your partner — but does getting married help your finances, or leave them worse off? Before you walk down the aisle and commit to each other “for richer or for poorer,” make sure you understand the financial ramifications of your nuptials. That knowledge will help you set out on a “for richer” journey together.
The Financial Pros of Getting Married
In addition to commitment and a beautiful ceremony, marriage carries economic incentives as well. Major benefits of marriage include:
- Joint health insurance: If one of you has a great health insurance policy through an employer and the other doesn’t, getting married might be the easiest way to ensure both of you are covered. Not all employers allow adding a domestic partner to your health insurance policy.
- A bigger home: Assuming both you and your future spouse are employed, applying for a mortgage together will increase your chance of getting approved for a larger amount (and, consequently, enable you to buy a bigger home). Of course, bigger won’t necessarily be better if you overextend yourselves. The same applies to renting a home: your landlord will take both incomes into consideration, but make sure you’re not spending more than you can afford.
- Death benefits: The IRS generally does not tax spousal inheritance, except in the case of the very wealthy. Further, you might receive benefits such as Social Security and pension, which are generally not available to unmarried couples.
The Financial Cons of Getting Married
Some potentially serious financial problems arise when you walk down the aisle. Considering the ramifications before you get married is essential for planning the best financial future for you and your spouse.
- Money management: If partner has trouble managing money wisely, trouble can ensue for both.
- The marriage penalty: Simply put, because one spouse’s income will be tacked on top of the other for tax purposes, their whole income will fall within higher tax brackets compared with each of you filing single. However, higher deduction limits largely offset the marriage penalty, so it shouldn’t be a major concern. If in doubt, you can always discuss the details with an accountant or run joint vs single filing scenarios through your tax preparation software.
- Liability: Financial judgments on joint accounts affect both spouses. If your partner goes bankrupt or doesn’t pay bills on joint accounts, you can be held financially liable.
Read more at YourTango.com
Last week, we were introduced to the New York Post’s Senior Reporter, Stephanie Smith, who made a deal with her boyfriend to make 300 sandwiches in order to receive an engagement ring from him. What seemed to be an inside joke and fun challenge between partners, the public deemed as a desperate attempt to be a Mrs., and went as far as to call her boyfriend Eric Shulte, chauvinistic.
Well, American society better get used to the changes romantic relationships are enduring these days. New York Magazine reports via The Knot’s Facebook page that more heterosexual couples are splitting the cost of an engagement ring. The Knot’s survey stated that the women who have helped out on paying for the ring either paid the deposit on it, or paid for half of its total cost. Women who have done so stated their partner was less financially stable than them, or made less.
The Today Show asked their online viewers how they felt about this topic. Those who were traditionalists (56%) stated that struggling finances were not a good enough reason for a woman to pay for her own engagement ring. Although this modern twist on engagements is being frowned upon, there are a growing number of American women who are the breadwinners in their relationships and don’t mind helping out.
Personally, I don’t think it’s a problem for women to pay for half of their engagement ring–if they want to. Also, if you are precise like me about every detail in your life, you might want to have a say in what ring you would like to wear for the rest of your life (hopefully…) and/or how it should be designed. Though some say your partner should know your style like the back of his hand, he might choose something that does not fit your style. I believe women who do offer to help pay for their own engagement ring are making a statement. They are sure about their relationship, and sure about the man they are committing to. Women who do not pay for their engagement ring can still be sure and confident about the person they’re marrying, but there is a difference when your own finances are involved in building a relationship with someone for a lifetime. Also, I imagine going dutch on an engagement ring will prepare couples for working together to secure other finances and things in their relationship, including purchasing their first home together, figuring out which bills will be paid by who, and what parenting styles will work best for their children.
Ladies, would you help pay for your engagement ring? Men, would you allow your future wife to pay, regardless of your financial standing?
What Would You Do For A Ring? NY Post Reporter On Quest To Make 300 Sandwiches To Get A Ring From Her Man
Some cook because they love to. Some cook because they need to eat. But if you’re New York Post Senior Reporter Stephanie Smith, you cook to win a most coveted prize: an engagement ring.
After about two years of dating boyfriend Eric Schulte, a computer programmer who loves to cook, Smith was wondering when the two would take the next step in their relationship. They had already moved in together in a swanky crib in Brooklyn, but as she said when sharing her story in the Post, “I wondered what it would take for him to propose.” Who knew that it might be a sandwich? After letting him cook most of the meals in their relationship, he had given many a sign that he just wanted a fresh homemade sandwich from his lady. To Smith’s surprise, after she concocted a turkey and Swiss sandwich on toasted wheat bread, he loved it so much that he told her, “Honey, you’re 300 sandwiches away from an engagement ring!”
For some reason, she took what sounded like a joke and ran with it. She thought that if she made more intricate sandwiches she could become wifey material: “Maybe I needed to show him I could cook to prove that I am wife material. If he wanted 300 sandwiches, I’d give him 300 sandwiches — and I’d blog about it.” And she did. Smith is the mind behind 300sandwiches.com, where she shares sandwich recipes and takes pictures of her mouth-watering work for the world–and for that ring. It’s a cute idea, but along with her friends and family thinking it’s a bit chauvinist and desperate, those who read about her story for the Post really didn’t think it was the cutest thing:
…people in relationships do nice things for each other, but not “for a ring”, they do it because they love each other and WANT to, putting caveats on how to “get” an engagement ring makes me want to barf, its 2013 girl, grow a pair.
This makes for an incredibly uncomfortable read. If he loved you, he’d marry you ‘sammies’ or not. End of.
So what does she say to that backlash? “First of all, he does most of the cooking in our house. And second, if he wasn’t the type of guy worth making one sandwich, I wouldn’t be making 300 sandwiches.” So she will continue making those sandwiches for her man, and she does say that since she started this quest, she’s found a new appreciation for cooking and food. She’s made almost 200 sandwiches since starting last year.
“Though I still want to get engaged and get married and live happily ever after, I’ve also put less pressure on the race to the 300th sandwich and I’m enjoying the cooking experience with Eric.”
And Eric is loving every minute of it, giving his lady–and readers–this tip:
“You women read all these magazines to get advice on how to keep a man, and it’s so easy…We’re not complex. Just do something nice for us. Like make a sandwich.”
Well, she better get that ring then. And a fat one. But if she doesn’t, I at least see a book deal on the horizon from this story alone…
I’m all for cooking because you like doing something nice for your partner, but cooking for the purpose of proving that you’re worth being a wife? That I’m not so sure of. What do you think?
In a last-ditch effort to show America he’s completely over his ex-wife, Kim Kardashian, Kris Humphries is wiping off the last residue of their failed 72-day-long marriage by auctioning off her diamond engagement ring, US Weekly reports.
The ring is going up for sale at Christie’s auction house in New York City on October 15th. The 20-carat Lorraine Schwartz engagement band is set to reel in between $300,000 and $500,000.
Humphries was not specifically named as the seller, but according to a source in US Weekly, “The ring in question is identical to the one Kardashian wore during her brief engagement and marriage to the athlete.”
The magazine also has details about the ring. “A rep for Christie’s confirmed to the site that the bauble up for auction is a Lorraine Schwartz creation with a 16.21-carat center diamond and two 1.80-carat side diamonds — the exact dimensions of Kardashian’s ring. The auction house could not disclose the seller’s name but said it was ‘a gentleman,’” it says.
Due to client confidentiality, Kris Humphries could not be named, but a close friend of the Kardashians tells US Weekly that the auctioned gem is 100 percent the same ring. ”Kim has been waiting for the day he would auction it. Everyone always asked what Kim did with the ring — she silently gave it back over a year ago! And Kris waited until the divorce was final to sell it.”
Although the auction house plans to sell the ring for a half a million dollars, US Weekly says that the ring is worth $2 million.
Yeah, so while you were working, this happened.
Producer DJ Khaled, aka, Khaled bin Abdul Khaled, known for saying “WE THE BEST! WHO? WEEEEEE N***A!” (still don’t like that), went to MTV news, ring in tow, heavy chain on, to propose to Nicki Minaj. That doesn’t make very much sense considering we’ve never seen them together aside from in music videos, and she was suspected to have been dating her sidekick Safaree, aka, SB. But after watching the video, and shuddering a few times, he does seem DEAD serious. Here’s what he said:
“Nicki Minaj, I’m at MTV. I love you. I like you. I want you. I want you to be mine. I’m here at MTV because it’s a worldwide network. Only reason I’m not telling you this face to face is because I understand that you’re busy. I’ma be honest with you, I wanna marry you.
I’m here today at MTV. Nicki Minaj, will you marry me? We got the same symptoms, we both suffer from success. You out their touring, you’re out their hustling, you’re out there making music and you’re out their winning. And I understand. That’s why I feel like you need a man like me in your life that’s gon’ take care of you and respect you. If you have to take your time and think about it, I overstand. But I know I have to be here today to let you know how serious I am and how serious this is to me. I want to let your fans know, my fans know, my family, your family, that I want to marry you. I been working hard for this ring. I would have proposed to you last year at “Take It To The Head” video. I wanted to tell you, but you know, things got better for me. I prepared for this day, so I went and got this ring. Nicki Minaj, will you marry me?”
Whoa. But this could of course be a publicity stunt. His new album, Suffering From Success drops September 24, so he could be trying to connect himself with Nicki to put attention on his new album. But if he’s serious, he might have to deal with Scaff-Breezy first. No response yet from Nicki, but we’d be hella surprised if she said yes…
Check out the video clip below:
What do you do when a guy says he doesn’t want to buy you any kind of ring for fear of what your friends and family will think of the value? So therefore he’s saving an undisclosed amount of money in order to buy one. We’ve been together for 3 and a half years and he says I’m his wife and I was sent and meant for him. He loves me, respects me and inspires me. We are in love…it’s just that everyone else is getting married and we’re 38 years old. Time is of the essence.
Dear Anxiously Waiting,
Rarely do I have a question here where both sides of the situation have an understandable and—most importantly—rational stance. You want to spend the rest of your life with this man, and want to get married sooner rather than later. I don’t go around quoting Jagged Edge that often, but you’re also right in that y’all ain’t getting no younger.
Your boyfriend seems to share your feelings. And—giving him the benefit of the doubt that the hesitation is due to the ring issue and not him just not wanting to get married to you—while his insistence on wanting to be able to give you a “show-off-able” ring may seem stupid and even shallow, I do see his point. Right or wrong, a woman’s ring is seen by many as a reflection of both her husband’s income level and his commitment to her. And, if you do have the type of family and friends that would side eye a small ring, his concerns are legitimate.
The answer here is obvious—you need to convince him that being married matters more to you than any expensive ring does—but it’s not going to be easy to convince him of that. So, here are three things you could incorporate in your argument.
1. Stress that the marriage is the important thing here. Not the ring, and not even the wedding. You just want to be his wife.
2. Remind him that anyone who’d be judgmental would actually be doing them a favor by showing their true colors. Plus, you’ll be saving money when you take them off the wedding invitation list (or, still invite them to the wedding, but give them sardines at the reception when everyone else gets salmon.)
3. Also remind him that, if it’s still a problem for him, he could always buy you a bigger, more expensive ring a couple years down the road when he can better afford it.
Basically, he needs to get over himself—That male pride thing is a Itchbay, isn’t it?—but he needs your help. Think of it as an investment on something more valuable than your ring: your future.
If he loves it, maybe he shouldn’t put a ring on it. Perhaps he should instead find a worthy way to show that he is committed to you–like investing in the relationship and/or marriage itself.
Now before you ladies string me up in front of the nearest Kay Jewelers, check out this article in the Business Insider, which says that the symbol of you and your man’s undying love is actually pretty worthless and more a result of careful price fixing and marketing than actual value. More specifically:
“We like diamonds because Gerold M. Lauck told us to. Until the mid 20th century, diamond engagement rings were a small and dying industry in America. Nor had the concept really taken hold in Europe. Moreover, with Europe on the verge of war, it didn’t seem like a promising place to invest.
Not surprisingly, the American market for diamond engagement rings began to shrink during the Great Depression. Sales volume declined and the buyers that remained purchased increasingly smaller stones. But the US market for engagement rings was still 75% of De Beers’ sales. If De Beers was going to grow, it had to reverse the trend. And so, in 1938, De Beers turned to Madison Avenue for help. They hired Gerold Lauck and the N. W. Ayer advertising agency, who commissioned a study with some astute observations. Men were the key to the market”
The article goes on to describe a plan hatched by the advertising agency to market a De Beers diamond as the ultimate mark of one’s high socio-economic status in society. This changed the entire social construct at the time as such men began to look to diamonds as an extension of their manhood – and the bigger the better. And because of wildly circulated marketing material, men were compelled to spend a comparable one month’s salary on a diamond ring. According to the Business Insider, “It worked so well that De Beers arbitrarily decided to increase the suggestion to two months salary.”
Diamonds haven’t been rare since before 1870s when the only people rocking the bling were actual African and European royalty. However, the discovery of huge diamond deposits in South Africa followed by a monopolization of the mines by the De Beers corporation helped to bring about the inflated price of the so-called “precious” stone on the global market. Now when you buy a diamond, you purchase it at an almost 200 percent markup, and when you try to resell it, you’ll would be lucky if you get even half of that back.
“We covet diamonds in America for a simple reason: the company that stands to profit from diamond sales decided that we should. De Beers’ marketing campaign single handedly made diamond rings the measure of one’s success in America. Despite its complete lack of inherent value, the company manufactured an image of diamonds as a status symbol. And to keep the price of diamonds high, despite the abundance of new diamond finds, De Beers executed the most effective monopoly of the 20th century. Okay, we get it De Beers, you guys are really good at business!”
Personally, I find the diamond engagement ring to be rather passe – even without the history lesson. I mean, if a dude is hell-bent on showing his intent to marry by his financial procurement, I would rather set my own bride price and give him a list of what I really want. Top of that list would be the payoff amount of my student loans. And it is my hope that my husband-to-be and I would be more creative in our branding of one another – perhaps even an actual brand (ie. matching tattoo). After all, marriage is supposed to be forever. And if I do get around to getting married, it will be forever or I’m not doing it at all.
Matter of fact, I haven’t worn, or even desired, any part of that stone since the day I learned the meaning behind the term conflict diamond. More specifically, despite the assurances from the diamond industry by way of the Kimberly Process, it is nearly impossible to determine which diamonds were and were not conflict-free. Suddenly, the egregious human rights abuses of mostly Africans for the sake of shiny little rocks didn’t seem all that appealing. Definitely not romantic – and no, I don’t care if he went to Jared…
Talk about crazy. I guess this is one of the reasons people argue that you shouldn’t live together premaritally; because when you want out, it’s just too hard to leave.
This was the case for a woman in Orlando who decided the four year relationship with her ex-fiance, Faron Thompson, 29, wasn”t going to work out. She was in the process of packing her stuff to move out of the apartment they shared together, when she remembered that she’d left her engagement ring on the kitchen counter. When she went to grab it that’s when Faron allegedly tried to shove it down her throat. He then threatened to burn the house down and while she was holding a one-year old child, pushed her against the wall, covering her mouth and nose with his hand.
The woman broke away and called the authorities.
As Thompson was being arrested, instead of utilizing his right to remain silent, he said, “Women always claim assault, but never accept responsibility for provoking someone.”
If there was any doubt about whether or not he assaulted his ex-fiancee, that comment right there kind of removes all doubt. He should have kept his mouth shut.
What do you think about this story? Should the girlfriend have gone back for the engagement ring?
Clutch describes what has to be on the list of every woman’s nightmares: You’ve announced the you’re getting married, invitations have been sent, the bridesmaids have been alerted, the venue and the cake have been chosen. And then the unthinkable — he calls off the engagement.
Once that sinks in and many, many tears are shed, you have to start going about cancelling the wedding. The final step is deciding what to do with the ring.
“In the case of etiquette versus the law, etiquette says that the ring should be returned. But according to the legal system it all depends on where you live, who broke off the engagement and how you received it,” the article says.
In places like New York, New Mexico and Michigan that have no-fault divorces, there are also “no-fault engagements,” so you have to turn it over. In California, it depends on who broke off the engagement. If it’s the lady, she has to hand over the goods.
In Montana, the ring is considered a gift and no matter what, the recipient gets to keep it. The author thinks this is appropriate. We’re going to disagree in favor of etiquette and the no-fault states. In those places “an engagement ring is considered a gift in contemplation of a marriage.” But it’s not just in those places. Anywhere in the world that a marriage proposal is offered and accepted, it’s in contemplation of… yes, a marriage.
If the engagement is terminated, the sentimental purpose of the ring is also. Rather than asking why he would want the ring back, you should ask why one would want to keep it. For the money? Perhaps during the course of planning the wedding, you’ve made deposits that are now forfeited. If you’ve mutually decided that the ring is meant to cover those expenses, then fine. It’s no longer a symbol of love and devotion, it’s an item with enough value to be used towards the cost of the failed wedding, which is now a failed business transaction. The former couple should now feel free to trade it in to mitigate the financial damage as much as possible.
But in all things, one must act with honor; be your best self, as Oprah might say. A difficult situation is made only more difficult when you have to have awkward or angry conversations about the sorts of matters that too intimately mix the emotional and practical.
The ring was intended to be a tangible expression of your feelings of love. When the love is gone, the ring should go with it, back to the giver, the first step in wiping your slate clean so you can move on.
What do you think?