By Melanie Hasty-Grant
THE RETIREMENT LADY: STRAIGHT-FORWARD, NO-NONSENSE TALK ABOUT YOUR MONEY
Valentine’s Day should be a burst of cheer amid some of the recent craziness in the markets. The National Retail Federation’s spending survey found that Americans spent $17 billion on Valentine’sDay in 2014. That’s a lot of money folks!
It is estimated that consumers spent approximately $133.91 on average on their chosen Valentine. Men reported spending twice as much as women. As the old saying goes…Roses are red, violets are blue…There were an estimated 257 million roses produced last year on this special day, and Valentine’s Day is reported to be the number one holiday for florists. In keeping with the idea that diamonds are, indeed, a girl’s best friend…There are over 27,484 jewelry stores in the United States, so there is plenty of bling to go around for you guys looking to spend the big bucks.
According to Neilsen, Americans purchased over 58 million pounds of chocolate during the days leading up to February 14th in 2014. That’s approximately $345 million worth of chocolaty goodness. How’s that for a sweet tooth? And lastly, as reported by the Huffington Post, 13 million couples become engaged each year, and approximately 6 million of those are proposed or asked on Valentine’s Day. What a romantic day it is!
But that’s not all. According to condom maker Durex, condom sales are about 25% higher around Valentine’s Day. Hmmmm… And statisticbrain.com reports that more at-home pregnancy tests are sold in March than in any other month. Kind of makes you wonder if more condoms should have been purchased, doesn’t it? It is estimated that approximately 11,000 children were conceived on Valentine’s Day in 2014.
Finally, in a study reported in Men’s Health/NBC News there were some 199,450 prescriptions logged for Viagra during the week of February 5th. Overall, the week before Valentine’s Day is among the top weeks of the year for demand for all male sex-enhancing drugs, representing about 2.9 million doses. That’s nearly 100,000 more pills and injections – and potential love connections – than in an average week, according to the study.
So if this year is anything like 2014, “Love IS good for the economy.” If you’re looking for investment ideas, you might choose them accordingly. If you’re looking for love, make sure to look in all the right places.
For more information go to www.waterstonewealth.com.
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Melanie Hasty-Grant, Experienced Licensed Professional Counselor and Managing Principle of Waterstone Private Wealth Management. Securities and Advisory Services offered through Cetera Advisor Networks. Member FINRA/SIPC