gift watch thread makes me think net worth...
 

Every year around Christmas my TV is full of ads showing people giving cars to their significant others. I always think, how silly is that? Who can afford to do that?

So, my question for the think tank is simple...

At what net worth do you feel comfortable giving a $40,000 gift without consulting your significant other?

I'll go with $10M or close.

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That skit was perfect.

I voted "$5,000,000-$10,000,000"... Lower than 5 million, money still matters.

But a $40,000 gift seems really excessive regardless of your net worth.

I know many people in the 5-15 million net worth range.
I can’t think of a single one that ever has, or would, buy a $40k gift without consulting spouse.

Suggested reading: The millionaire next door

Depends if the gift is for the gf, or the wife.

I suspect that surprise jewelry gift purchases are made all the time that are north of $40K by some guys....

Mebbe even a flower shop :D

Does anyone else remember ;)?

If you can burn a $40k pile of Benjamins on your driveway and not flinch about it, then your net worth is high enough.

It's SO much easier to watch a Canadian pot stock go "up in smoke" :D

BTDT.... and I ain't rich ;).

LOTS of folks give their teenage kids a car worth that much too, but I can't relate to that either. How about a $75K wedding for their princess?

Burn, baby, burn ....

The skit was perfect.

While I have "net worth" o'plenty (which is not a viable indicator of wealth IMHO) I can't imagine spending any significant money on a gift, say $1000, without talking to my wife first.

I guess we are at the point where we really have everything we need in terms of "stuff".

That and we drive cars for a long time: Almost 14 years on the 4Runner, 12 years on my daughters used FJ, 18 years on my son's Tacoma, etc.

I know some wealthy folks. One wants to buy an NFL Franchise.

$40k is a LOT of discretionary spending.

Although I think many here drop that on a car at times.

I think there are folks that can do that because their other half just doesn't give a hoot about cars. They are an appliance, and as long as it's shiny and clean and smells good, that's all that matters.
I have a boss that told me that he did it once, but that the missus did not like the car much, so it didn't end up going as well as expected.

Y'all remember the diamond ring commercials from a few years back? The "right" engagement ring amount was suggested to be 2 months salary .... now THAT is a $eriou$ rock for a corporate exec... several million :D....

I'm neither an exec nor engaged fwiw ;)

I've also never understood parents plunking down 75-100K for a wedding....

If I am very close to the person and there is a genuine need and I have the means. No problem. My feeling has always been.... Its only money. And I am not rich. Maybe that's why???

No matter what my net worth, I would never buy a car for my wife without her direct input. She spent weeks on the Porsche AG web site building her dream car online. She researched all the packages, and performance, and features. She put together HER car and the site allows you to print out a single page with a suggested MSRP to take to the dealership. Then you negotiate a final price.

I could have guessed some of the features, but she surprised me on some.

One of the members in our local PCA region buys two the three new, or almost new Porsches every year. He bought a GT3RS with 2,000 miles on it and decided it was just to rough riding so he swapped for a 911 Turbo S and, and he traded in his GT4 for the GT3. He never keeps a car more than 6 months. I tease him that the local tax commission sends him birthday and Christmas cards for the taxes he has to pay on cars. He has had a dozen different Porsches in the last 4 years.

The last CEO I had made 15M (per year) the last year I worked there.... heard she drove a brand new Porch too...

Her name was $u$an :D....

Easy come ... easy go.... for some folks.

It's all relative......

$10,000 tax free gifts each year is a simple wealth transfer plan.
You are guaranteed to see your grandkids a lot. :)

i dont even have a reference datum point here. i am agonizing $250 sunglasses.

my wife wouldnt be happy if i made the car choice for her. she would hate gas guzzler i buy.

We did the same when we bought my wife's 4Runner.

I think I have driven it three times in 2 plus years. :cool:

She got some options I would have never thought of that were very important to her based on her many years in the last 4Runner.

It depends on what "consulting your S/O" means exactly.

I know my wife wants a G-Wagon someday. We've talked about how it is her dream SUV. Someday I will probably buy her one (used!) as a surprise present. I know cars, I know what she likes, but we likely wouldn't discuss it in the moment.

Spend that much completely unprompted, no way. She's way too picky for that.

Yea, I have driven her car a few dozen times since we got it. When I have to pick up and deliver 40x60 mounted prints to a client they fit perfectly in the cargo area of the Macan. Once I had to pick up two clients at the local airport and take them to dinner. She let me drive as long as she got to eat with us on the company dime as a rental fee.

It is totally her car, even though my name is on the title and I um, donated some funds to the purchase of it.

Personally, I define wealth as having more money coming in than going out. If I can set my life up like that, then in my mind, I am wealthy. Ultimately, I would like to set things up so that would be the case employed or not. While Net worth does not necessarily dictate wealth, it can be a strong indicator. Although housing prices across the board seem to have skewed the numbers a bit...

Most multi-millionaires that I know consider $40k as a lot of money.
That’s why they have accumulated the net worth that they have.

All the stupid wealthy people I know didn't get that way by spending indiscriminately.

The formerly wealthy people I know did.

^^^ yes
If a person's decisions are made
based on how much money
they have
they will soon enough have none

Bingo! Cindy & I don't talk about small purchases, say under a hundred...but anything larger, we do. This includes gifts. I actually wanted to buy a lady Rolex for her. I was told in no uncertain terms to forget it. We're just not into bling, I guess.

Not that we consider ourselves wealthy...

Couldn't answer the poll because our net worth doesn't enter into our buying decisions.

Exactly!