Author Topic: $6M Quinceañera Party  (Read 10387 times)

Geostache

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$6M Quinceañera Party
« on: March 23, 2016, 07:04:49 AM »
I know it was clickbait, but I still felt it belonged here:

http://emgn.com/s/the-most-spoiled-15-year-old-in-texas/

I'm speechless.

slugline

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Re: $6M Quinceañera Party
« Reply #1 on: March 23, 2016, 07:13:10 AM »
"1 of 10"

Nah, I was good with just the first page.

Gone Fishing

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Re: $6M Quinceañera Party
« Reply #2 on: March 23, 2016, 07:26:26 AM »
Around here, even households of modest means spend thousands of dollars their daughter's Quinceaneras.  Many parents take on second jobs to fund them. Better than debt, I suppose...

TheGrimSqueaker

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Re: $6M Quinceañera Party
« Reply #3 on: March 23, 2016, 08:21:36 AM »
Around here, even households of modest means spend thousands of dollars their daughter's Quinceaneras.  Many parents take on second jobs to fund them. Better than debt, I suppose...

It's those obnoxious reality shows that convince everyone that over-the-top consumption is normal.

Long ago this was a kind of a neighborhood party: you'd roast a pig, everyone would come over, and there'd be dancing after the meal. But the spending has gradually gotten out of control. Worse still, people now expect a big blow-out for a Quince, AND a Sweet 16, AND the 18th birthday party, AND a graduation party, AND a wedding, and other events as well that I probably haven't thought of yet.

My daughter was hacked off that, for her Sweet 16, I was only willing to provide a water-park party for herself and a dozen other people, plus a very nice gift for her and dinner out for just us. She couldn't understand why I wouldn't also rent her a suite in an upscale hotel to stay overnight with a few of her best friends, and a limousine to take them home afterwards. The problem, I think, is that people that age are mostly prohibited from working, so they've got no idea what it takes to actually earn money.

I remember my own 16th birthday celebration involved a homemade cake, and a family dinner out at one of those pizza arcade places for older kids. My brother and I each got to bring one friend.

Chris22

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Re: $6M Quinceañera Party
« Reply #4 on: March 23, 2016, 09:07:23 AM »
Around here, even households of modest means spend thousands of dollars their daughter's Quinceaneras.  Many parents take on second jobs to fund them.

Which to me is far more egregious than zillionaires spending $6M.  Who cares what the ultrawealthy waste their money on, assuming they aren't about to go tits up.

onlykelsey

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Re: $6M Quinceañera Party
« Reply #5 on: March 23, 2016, 09:09:46 AM »
Around here, even households of modest means spend thousands of dollars their daughter's Quinceaneras.  Many parents take on second jobs to fund them.

Which to me is far more egregious than zillionaires spending $6M.  Who cares what the ultrawealthy waste their money on, assuming they aren't about to go tits up.

Agreed.  Although thanks to reality TV, etc, everyone thinks they, too, should have a million-dollar party/wedding/quinceanera/bar mitzvah/etc.   Even generally well-rounded friends of mine were astonished at some of our decisions when we were planning a wedding.  WHAT DO YOU MEAN YOU WON'T HAVE A VIDEOGRAPHER?  You only get one wedding! etc.

MgoSam

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Re: $6M Quinceañera Party
« Reply #6 on: March 23, 2016, 09:34:43 AM »
In my parent's community there are two important parties that cannot be ignored, 16th birthdays and graduation.

I'm a fairly low-key person, some of my cousins and family friends had really extravagant 16th birthdays with at least 100 people. I tried to get mine as modest as possible, but it still ended up being a fairly intensive affair. We rented a section of a restaurant and I found out just how hard it is to limit numbers without offending (re, pissing off) people. My mom did what she could, but my dad being my dad invited like 10 people the day of, so the section was fairly packed.

Thankfully for me, my graduation party was a few months before my sister's wedding, so it wasn't hard to convince them to keep it simple. We rented a tent for our driveway and my mom asked a bunch of her friends to make food, and we had food catered by a local Indian restaurant, I love fresh garlic naan.

If and when I get married, I truly hope to elope or do something simple but awesome like a backyard wedding. Now that I'm older, I really don't care as much about pissing off my parents' friends. They really don't give a shit about me, they just want to come because their friends are coming.

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Re: $6M Quinceañera Party
« Reply #7 on: March 23, 2016, 03:44:21 PM »
My friends children have just hit the bat/bar mitzvah stage and the same thing is happening. I guess it goes along with having $600 bounce house parties when they turn 4. At 13 it is demands for dj, expensive catering, rental halls, etc to the tune of tens of thousands of dollars. There seems to be no small scale mitzvah type event.

zsmith

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Re: $6M Quinceañera Party
« Reply #8 on: March 23, 2016, 04:08:07 PM »
I travel to Mexico once in a while and coming out of Mexico City there used to be a billboard that advertised Quince parties in Europe.

TheGrimSqueaker

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Re: $6M Quinceañera Party
« Reply #9 on: March 23, 2016, 04:14:38 PM »
The root cause of the problem is probably a lack of willingness to say "no" to one's offspring. That, and the glorification of overspending seen in mass media.

BlueHouse

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Re: $6M Quinceañera Party
« Reply #10 on: March 23, 2016, 04:25:11 PM »
Jeez.   Why would a parent do that to a child?  You know that article is going to spawn internet rage and incredibly mean comments focused on the girl.   


Gone Fishing

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Re: $6M Quinceañera Party
« Reply #11 on: March 24, 2016, 01:12:38 PM »
The root cause of the problem is probably a lack of willingness to say "no" to one's offspring.

I'm always amazed people have trouble with this.  I say it so often to my children, that I occasionally say it accidentally. 

UnleashHell

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Re: $6M Quinceañera Party
« Reply #12 on: March 24, 2016, 02:18:30 PM »
The root cause of the problem is probably a lack of willingness to say "no" to one's offspring.

I'm always amazed people have trouble with this.  I say it so often to my children, that I occasionally say it accidentally.

If I can get the timing right I'll say no before they ask the question.

ambimammular

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Re: $6M Quinceañera Party
« Reply #13 on: March 24, 2016, 03:10:07 PM »
I read the subject line quickly and thought it was $6K, and still thought, $6K!! That's crazy!!

RetiredAt63

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Re: $6M Quinceañera Party
« Reply #14 on: March 25, 2016, 08:04:43 AM »
The root cause of the problem is probably a lack of willingness to say "no" to one's offspring.
I'm always amazed people have trouble with this.  I say it so often to my children, that I occasionally say it accidentally.
If I can get the timing right I'll say no before they ask the question.
And "maybe" means "maybe, let me think about it" - keep bugging me and the answer will be fast - "no".

Making Cookies

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Re: $6M Quinceañera Party
« Reply #15 on: March 25, 2016, 09:16:01 AM »
If we somehow get the itch to spend $5K+ on a party, we'll just buy our teen a modest car (pocket the savings) and serve hamburgers, cake and ice cream for a few friends...

tobitonic

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Re: $6M Quinceañera Party
« Reply #16 on: March 25, 2016, 10:26:02 AM »
The root cause of the problem is probably a lack of willingness to say "no" to one's offspring.

I'm always amazed people have trouble with this.  I say it so often to my children, that I occasionally say it accidentally.

If I can get the timing right I'll say no before they ask the question.

I misread this as *can't* instead of *can*; it was still funny.

Dicey

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Re: $6M Quinceañera Party
« Reply #17 on: March 25, 2016, 01:41:50 PM »
Okay, the photo at the bottom of page 2 (Hey, I'm retired, I have time to click through.) really creeped me out. This girl is just turning sixteen? What does she have to look forward to in her life?

RetiredAt63

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Re: $6M Quinceañera Party
« Reply #18 on: March 26, 2016, 06:53:55 AM »
Okay, the photo at the bottom of page 2 (Hey, I'm retired, I have time to click through.) really creeped me out. This girl is just turning sixteen? What does she have to look forward to in her life?
I'm retired too (yup, too much time for internet surfing) so thought I would take a look.  Yikes. The shoes.  The money. Remember how people say your wedding day should not be the best day of your life, because that means the rest is all downhill?  This is worse, and she is younger.  What will her wedding be like? 

SpeedReader

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Re: $6M Quinceañera Party
« Reply #19 on: March 27, 2016, 04:46:03 PM »
Okay, the photo at the bottom of page 2 (Hey, I'm retired, I have time to click through.) really creeped me out. This girl is just turning sixteen? What does she have to look forward to in her life?
I'm retired too (yup, too much time for internet surfing) so thought I would take a look.  Yikes. The shoes.  The money. Remember how people say your wedding day should not be the best day of your life, because that means the rest is all downhill?  This is worse, and she is younger.  What will her wedding be like?

Don't feel sorry for her.  Feel sorry for the guy who marries her.

TheGrimSqueaker

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Re: $6M Quinceañera Party
« Reply #20 on: March 27, 2016, 10:53:23 PM »
Okay, the photo at the bottom of page 2 (Hey, I'm retired, I have time to click through.) really creeped me out. This girl is just turning sixteen? What does she have to look forward to in her life?
I'm retired too (yup, too much time for internet surfing) so thought I would take a look.  Yikes. The shoes.  The money. Remember how people say your wedding day should not be the best day of your life, because that means the rest is all downhill?  This is worse, and she is younger.  What will her wedding be like?

Don't feel sorry for her.  Feel sorry for the guy who marries her.

There's apparently an entire category of non-Mustachians who are attracted to the high maintenance, princess types.

MgoSam

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Re: $6M Quinceañera Party
« Reply #21 on: March 28, 2016, 06:58:44 PM »
Okay, the photo at the bottom of page 2 (Hey, I'm retired, I have time to click through.) really creeped me out. This girl is just turning sixteen? What does she have to look forward to in her life?
I'm retired too (yup, too much time for internet surfing) so thought I would take a look.  Yikes. The shoes.  The money. Remember how people say your wedding day should not be the best day of your life, because that means the rest is all downhill?  This is worse, and she is younger.  What will her wedding be like?

Don't feel sorry for her.  Feel sorry for the guy who marries her.

There's apparently an entire category of non-Mustachians who are attracted to the high maintenance, princess types.

I once thought that was natural, thankfully I wised up. I learned how quickly when I gave someone a gift in college only to find out that it wasn't up to her "standards," naturally that relationship didn't work out, but lesson learned.

BlueHouse

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Re: $6M Quinceañera Party
« Reply #22 on: March 29, 2016, 07:50:18 PM »
Okay, let's stop bashing the girl. First, she's a minor, so she's off limits. Second, the damage being done to her should be attributed to her parents because kids are biologically wired to be takers for their own survival.  It's the job of the parent to set limits. Third, please focus the barbs at adults.

MgoSam

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Re: $6M Quinceañera Party
« Reply #23 on: March 30, 2016, 09:45:59 AM »
+1!

I'm a red panda

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Re: $6M Quinceañera Party
« Reply #24 on: March 30, 2016, 10:51:46 AM »
If we somehow get the itch to spend $5K+ on a party, we'll just buy our teen a modest car (pocket the savings) and serve hamburgers, cake and ice cream for a few friends...

But a car is already an expected gift for this sort of party...

TheGrimSqueaker

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Re: $6M Quinceañera Party
« Reply #25 on: March 30, 2016, 10:01:30 PM »
Okay, let's stop bashing the girl. First, she's a minor, so she's off limits. Second, the damage being done to her should be attributed to her parents because kids are biologically wired to be takers for their own survival.  It's the job of the parent to set limits. Third, please focus the barbs at adults.

Most of the barbs are indeed focused at the adults. But the fact is, kids are wired to be takers at age 6, not age 15-16. At that age, ideally there's been some kind of civilizing influence.

Many of the people on this forum were raised in spendypants environments, but have recovered. At what age is it reasonable to expect humans to have an inkling of personal responsibility or of the notion that big spending isn't normal? I'd expect it to happen at around age 7 or 8, but is that an example of me being unreasonable?

Chris22

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Re: $6M Quinceañera Party
« Reply #26 on: March 31, 2016, 12:16:16 PM »
Okay, let's stop bashing the girl. First, she's a minor, so she's off limits. Second, the damage being done to her should be attributed to her parents because kids are biologically wired to be takers for their own survival.  It's the job of the parent to set limits. Third, please focus the barbs at adults.

Most of the barbs are indeed focused at the adults. But the fact is, kids are wired to be takers at age 6, not age 15-16. At that age, ideally there's been some kind of civilizing influence.

Many of the people on this forum were raised in spendypants environments, but have recovered. At what age is it reasonable to expect humans to have an inkling of personal responsibility or of the notion that big spending isn't normal? I'd expect it to happen at around age 7 or 8, but is that an example of me being unreasonable?

Very few, if any, here grew up in an environment where spending $6M on a single day was not an issue.  This is wealth on a scale that's unimaginable to most of us.  This is not "I watched my parents run up a lot of debt on a CC and vowed to be smarter than that."  Or even "I watched my parents slave away to pay a $1M mortgage." 

This is wealth on a whole different level, and it's silly for us to sit here and say what we would or wouldn't do at 16 having grown up in that environment. 

TheGrimSqueaker

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Re: $6M Quinceañera Party
« Reply #27 on: March 31, 2016, 03:42:22 PM »
Okay, let's stop bashing the girl. First, she's a minor, so she's off limits. Second, the damage being done to her should be attributed to her parents because kids are biologically wired to be takers for their own survival.  It's the job of the parent to set limits. Third, please focus the barbs at adults.

Most of the barbs are indeed focused at the adults. But the fact is, kids are wired to be takers at age 6, not age 15-16. At that age, ideally there's been some kind of civilizing influence.

Many of the people on this forum were raised in spendypants environments, but have recovered. At what age is it reasonable to expect humans to have an inkling of personal responsibility or of the notion that big spending isn't normal? I'd expect it to happen at around age 7 or 8, but is that an example of me being unreasonable?

Very few, if any, here grew up in an environment where spending $6M on a single day was not an issue.  This is wealth on a scale that's unimaginable to most of us.  This is not "I watched my parents run up a lot of debt on a CC and vowed to be smarter than that."  Or even "I watched my parents slave away to pay a $1M mortgage." 

This is wealth on a whole different level, and it's silly for us to sit here and say what we would or wouldn't do at 16 having grown up in that environment.

Except, she didn't. Her father is Thomas J. Henry, a personal injury attorney whose name was *not* on the Forbes list of the 400 wealthiest Americans who are worth more than $600M back in 2001. This is relatively new money.

The girl is quoted as having described the party as the best time of her life (for now), so parties like that actually aren't normal for her. While she no doubt spends more than the average Jane, a party like that is definitely burst spending as opposed to something that happens regularly, and it's possible that she's very well adjusted and not spoiled at all.

A $6M party costs only 1% of a family's net worth for someone worth $600M. But that doesn't mean it was trivial. Most families, Mustachian or otherwise, can't free up 1% of their net worth without careful planning that might involve the sale of income producing assets. For a family worth, say, only $200M, a party like the one described in the link would require 3% of the family's net worth.

The question should probably be what percentage of a family's net worth should be considered "no big deal" to spend on one day's worth of entertainment. There's a perception on this board that party expectations are out of control.

A FIRE Mustachian family with a $1M net worth would most likely not spend 1% of its net worth ($10k) on a child's birthday party or even on a wedding. (Not if they planned to stay FIRE.)

MgoSam

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Re: $6M Quinceañera Party
« Reply #28 on: March 31, 2016, 07:44:21 PM »

Except, she didn't. Her father is Thomas J. Henry, a personal injury attorney whose name was *not* on the Forbes list of the 400 wealthiest Americans who are worth more than $600M back in 2001. This is relatively new money.

That's interesting that it's new money and her father is an attorney. I imagine success attorneys that didn't come from money (quite a few lawyers join family practices) all work insane hours to become as successful as they are. It could be a combination of the following

a. New money, might want avenues to spend it
b. Help bringing colleagues and competitors and clients for his firm over, might be able to expense some of it
c. Compensating for being absent for much of her life (long hours at the office, missing recitals and other things)

TheGrimSqueaker

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Re: $6M Quinceañera Party
« Reply #29 on: March 31, 2016, 07:58:13 PM »

Except, she didn't. Her father is Thomas J. Henry, a personal injury attorney whose name was *not* on the Forbes list of the 400 wealthiest Americans who are worth more than $600M back in 2001. This is relatively new money.

That's interesting that it's new money and her father is an attorney. I imagine success attorneys that didn't come from money (quite a few lawyers join family practices) all work insane hours to become as successful as they are. It could be a combination of the following

a. New money, might want avenues to spend it
b. Help bringing colleagues and competitors and clients for his firm over, might be able to expense some of it
c. Compensating for being absent for much of her life (long hours at the office, missing recitals and other things)

Even a lawyer who joins a family practice has to put in ridiculous hours early in his or her career, and most family practices are small operations that don't generate megabucks.

Conspicuous consumption has to be good for a tort lawyer, though: it's a sign he gets big settlements for his clients.

mattattack08

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Re: $6M Quinceañera Party
« Reply #30 on: April 13, 2016, 12:32:21 PM »
I'm from San Antonio, where this Quinceanera was held.  The guy rented out Fiesta Texas!  From what I gathered, there were a lot of big wigs there, so I'm sure he's gonna be able to claim some of it as business expenses.  I don't know how wealthy the guy is, but his law firm was hiring an personal injury lawyer for his Corpus office that had a starting between $500K - $1M/year (it is performance based though). This guy also donated $1M to our recently elected DA's campaign, so he has a lot of money.