0:39
Louis Barajas weighs quinceañeras against college tuition. A typical quinceañera costs $30,000 to $40,000. He suggests families spend half that on the celebration and save the rest for college, a car, and a wedding.
Louis Barajas weighs quinceañeras against college tuition. A typical quinceañera costs $30,000 to $40,000. He suggests families spend half that on the celebration and save the rest for college, a car, and a wedding.
The five generations? Yes. Do all they have a retirement plan? Yes. Is there an estate plan? Yes. Is there life insurance? Yes. But they choose to be together. They choose it. The quinceanera. I now sit down and I said okay, the quinceanera is really important but let's talk about everything else that's going to happen. What are some life defining moments that you would like to help your daughter with? Well, I'd like to help them with that. I'd like to help them a little bit with college. I'd like to help them that if when they go to college, maybe a little used car. I'd like to one day help them a little bit if they get married. This is great. So let's put a plan together with all of these. So instead of spending now, these days 30 to $40,000 on the quinceanera, they're still spending money but they figure out how to spend maybe half of it because now we have money going into the other goals.
