When Super Bowl 50, Relationships, Financial Planning And Bad Decisions Collide.
Super Bowl 50 brought us the Carolina Panthers vs. the Denver Broncos. This is Denver Broncos’ 8th trip to the Super Bowl and Carolina Panthers second trip to the Super Bowl. With that said, the fans are excited and making some decision that they might enjoy and regret for years to come.
One fan that might live to regret his decision is Justin Kerrigan. Justin spent $30,000 to enjoy a weekend of football with his friends. While I am impressed with Justin’s confidence in the Broncos, I’m not impressed with his decision to not ask his wife for permission to buy 4 Super Bowl tickets including the Broncos tailgate package.
I’m not sure which decision is worse – spending $30,000 on this or keeping it from his wife – but as a financial planner, I can at least estimate what this will cost him financially. As for what this will cost his marriage, as Mastercard might say, “priceless”.
Ok, so now for the easy part. Using the average returns for the past 20 years, we can guess that this decision cost Justin somewhere between $33,777 and $153,548. This is all a function of return on the money and time. Now for the disclaimer, these are past returns and cannot be used to predict future returns, but using time and returns is the only way to do this so here are the numbers.