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Asset Preservation Advisors


State: GA

APA’s philosophy is to work closely with our clients to develop an in-depth understanding of their unique needs and objectives. We then customize a municipal bond portfolio that best meets their specific goals and needs. APA manages high quality municipal bond portfolios in four strategies: Short-Term, Intermediate-Term, High Income, and Taxable.

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Spending on Wedding Gifts Depends on Household Budget

Most investors are guided by their household budget when deciding how much to spend on wedding gifts – though some Millionaires worry about appearing cheap. Learn more.

| BY Adriana Reyneri

Investors with a household budget are more likely to stick to their financial goals during the upcoming wedding season despite significant demands on their pocketbooks, according to the latest monthly survey from Spectrem’s Millionaire Corner.

More than three-fourths of investors would spend less than $100 on a wedding shower gift and more than two-thirds would spend less than $200 on a wedding gift for a close friend or family member, according to our April survey. Close to 70 percent believe it’s reasonable to spend $20,000 or less on a wedding today.

How do affluent investors weigh in on destination weddings? Click here to find out.

What drives these decisions? The majority of investors (56 percent) indicate their spending on wedding gifts is guided by their household budget for gift giving. Household budgets increase the chances individuals will achieve their saving and investing goals, according to a study conducted last summer by the Consumer Federation of America, or CFA, and the Certified  Financial Planner Board of Standards, Inc., or CFP Board.

“Our survey clearly shows that having a personal financial plan helps both rich and poor achieve their financial goals," said Stephen Brobeck, CFA's Executive Director. "Having a financial plan increases one's confidence and effectiveness in managing, borrowing and saving money."

Individuals with household budgets tend to save a higher percentage of their income and pay their credit cards in full each month, according to the survey. They’re also more likely to say they’re on pace to meet all of their financial goals, such as building a rainy day fund or retirement nest egg.

Do affluent investors recommend prenuptial agreements to couples getting married today? Click here to find out.

“Most people who have wealth didn't build it overnight,” according to educational materials provided by the Federal Reserve Bank of Dallas. “They got wealthy by setting goals and pushing themselves to reach those goals. You can be on the road to wealth creation if you learn how to budget and save.”

Though household budgets are the primary factor influencing spending on wedding gifts, close to half of investors indicate they also consider the items listed in the couple’s gift registry and the financial circumstances of a couple. More than one-fourth of high net worth individuals – those with $5 million to $25 million to invest – also indicate their spending on wedding gifts is influenced by the fear of appearing cheap.