From the S&P to Tiffany: Big Plans? Start Investing Now

This month, many a college graduate will have completed the academic aspect of his or her life and will soon move on to the "professional" phase of life. Whether you're a recent graduate or know a college grad, let's take a look at how to invest upon entering the labor force, with a few big-budget plans in mind.

Your Wedding

I am now about to tell you something which will no doubt in my mind, rip the heart out of young brides to be. At the same time, it will be among the best financial advice that any young couple will ever receive.

Imagine buying that dream car you always wanted. You scrapped and saved $50,000 for this heavenly vehicle. You paid for it, drove it out of the show room, motored around for four hours and then proceeded to push it off of a cliff.

Now imagine doling out $50,000 for a four-hour wedding reception. After the four-hour party, other than a good meal, some photographs and probably useless wedding gifts, all that you have managed to do was toss $50,000. However, perhaps you will receive some nice cash gifts.

It is about this time that I get the horrific looks and emotional pleas, explaining to me how special a wedding is. I am usually told that I am devoid of romance. My response is that with more that 50% of marriages doomed to failure, there is no correlation between the amount of money spent on a wedding and the success of the marriage. Long term, what really counts, is not the money you put into your wedding day, but the money (and everything else) you put into the actual marriage.

Now, if you can get over the wedding issue, then Bar Mitzvahs, anniversary parties, sweet sixteen parties and other big-budget social events will be financially easier to navigate.

Despite my admonitions of spending too much on weddings, people will continue to do so. That said, how can you invest in the engagement and wedding market? Here are a few ideas:

Jewelers: Take a look at Tiffany (TIF Quote) which not only sells diamond rings, but is also a big destination for bridal registry. If you want to profit off of the less upscale market, research a a mall-based jeweler, such as Zales (ZLC Quote) or Web-based jeweler, such as Blue Nile (NILE Quote).

Caterers: While most weddings take place at local catering halls, religious houses of worship or private clubs, many hotels are in the wedding catering business as well. If you're interested in this investment theme, then investigate Marriott International (MAR Quote) or perhaps Starwood Hotels & Resorts (HOT Quote).

Flowers: What would a wedding be without flowers? Maybe FTD Group (FTD Quote) has the right investment assortment for you.