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Location: Vienna, Virginia, United States

A graduate of Dartmouth College (2005) and Washington and Lee University School of Law (2010). These are my personal blogs, and the musings expressed on them do not reflect the positions of my employer. They do reflect my readings, thoughts, and aspirations, which I figure is good enough.

Thursday, March 30, 2006

My Idea

So one of Jen's friends recently got engaged. Yesterday over sushi, Jen and I discussed the couple's intentions to put their names on a wedding registry somewhere.

Where should they register? They're going to be a 23 year old couple, living in a small apartment in New York. Obviously, registering at Home Depot is out, since they don't have a home to fix up. Obviously, registering at a place like Williams-Sonoma or Bed Bath and Beyond might be ok, but then again, the couple might just end up with a lot of cooking utensils and stuff that they don't have any place to store.

Registering at a place like WalMart or Target is just tacky, so that's out. Electronic stores would present similar storage issues to Bed Bath or Williams-Sonoma.

Which is when I had a brilliant idea. An idea which should be capitalized upon and implemented posthaste.

Supposition 1) Young couples will not have a lot of room in their living quarters for material possessions. Sure a TV and some decorations are nice, and basic kitchen equipment, but if the wedding is a large one, they're going to get a lot of stuff they might end up placing on Amazon.com or Ebay.

Supposition 2) People age 18-24 are impossible to buy for. Unless you're their age, but even in that case, it's difficult.

Supposition 3) Since people are difficult to buy for, and giving people money is tacky, an alternative must be found

Supposition 4) A recently popularized alternative to gift giving has been charitable giving in the name of the couple. There was an article mentioning it in Money magazine last year. This is all well and good, but only if the couple has preferred charities.

Supposition 5) Young people, although often economically savvy, might not be the best at investing monetary gifts or savings.

Which brings me to my idea. Wedding Registry Mutual Funds. I've only found one mention of giving mutual funds as a wedding gift in passing, and it doesn't even suggest the idea of a specific mutual fund targeted towards couples wanting to register at one.

Before you think about how unromantic the idea of registering at Charles Schwab (for example) is, consider the benefits.

Such a fund, if created, would be quite popular. Kids these days know that they're supposed to save for retirement. They've been told over and over again that placing money in a mutual fund or retirement account can make their later years much more comfortable, especially if Social Security tanks. Yet, we tend not to do it because we get distracted and spend our money elsewhere.

And adults are always looking at the youth to be fiscally responsible. What better way to prove to the parents of both bride and groom, as well as their relatives, that the couple is responible and mature than by registering with a mutual fund?

It saves the wedding attendees the effort of buying gifts that the couple won't use, the gifts will appreciate over time, and if the wedding is a large one, the appreciation could be substantial.

Furthermore, it's a way for both the couple and the gift giver to emphasize that the marriage will be one that will last, because why else would you want to register at a mutual fund?

A savvy mutual fund company might also tailor the idea of a "Wedding Registry Mutual Fund" to make it more attractive.

Give the gift-givers some options - high-risk funds, low-risk funds, themed portfolios or sectored portfolios, nice ways to present the gift to the bride and groom, and really, the gifts can be just as impressive and surprising as a crystal goblet from Tiffany's. Also, the mutual fund won't break when the dog bumps into the china cabinet.

1 Comments:

Blogger Sharon said...

A friend recently got married, they registered for their honeymoon, so people chipped in for their plane tickets/skydiving/hotel/camel riding. Not as tacky as giving money and you don't end up with a ton of unwanted cooking gear. www.thebigday.com

3:22 AM  

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