Your younger clients – or maybe their excited parents – may be planning on spending a lot of money on their weddings, but a lavish party is a missed investing opportunity, reports Slate.
The average American wedding costs between $10,000 to $31,000, Slate reports.
Imagine if that money were invested in stocks and bonds instead of suits and bouquets. To illustrate the power of investing to your clients, use Slate’s wedding calculator. It shows how much money your clients would have if they invested in the S&P 500 instead of in their nuptials, based on past returns.
For instance, someone who got married in 2005 and spent $20,000 on the wedding, would have $41,799.