Trouble in paradise officially?

[CosmicRays]

Like another poster said, once a person is able to afford Disney at its finest, they realize the other trips and places they can visit and start leaving Disney by the wayside. Maybe this wouldnt have started happeninf for years but the pandemic in a way exposed it.

 

[Ayla]

I'm not one to complain about Disney's prices because I've always thought the value was there. My family falls well, well above that 75k bracket and as this poll indicates we just don't have any interest in going any time soon.

For the money, it's not worth it, and most high earners know that. High earners in the 150k-300k+ range are typically very smart with their money. That's how they came to earn that much in the first place.

Disney can target high earners all they want but their current prices make them look not only greedy, but foolish.

I mean has anyone seen the prices for the Halloween bash thing? $125-190 something per person.

They're out of their damn minds and I hope Universal eats their lunch...

I was talking to our son earlier this week and told him something similar. You don't get rich by blowing your money on stupid worthless stuff.

 

[Dan Deesnee]

So people who do go are stupid and don't know the value of a dollar??

No, people who make less than 75k a year and stretch themselves financially to go for a watered down experience that is more expensive than two years ago might simply be making a bad financial decision.

 

[Chomama]

I have no debt at all. Zero. Nada. Last three vehicle purchases were cash. Mortgage is paid off. Retirement fully funded. Do I win???
"Cash is king. The paid off home mortgage is taking the place of the BMW as the status symbol of choice." - Dave Ramsey
I may not be a DR purist, but there a lot of good principles one can follow to have financial freedom and enjoy life, "living your wage".

Paying off a mortgage may not always be sound financially, actually. When interest rates are this low it’s often better to take take money and invest it elsewhere.

 

[Ayla]

I’m not sure if they will never recover, but I think they are putting themselves in a position where major adjustments will need to be made in order to recover.

At the same time, reputation is a key factor. Their “reputation for quality” has long allowed them to get away with higher prices despite declining quality. If they craft a negative reputation that reaches the casual market, it will be difficult to overcome, regardless of the changes they make.

I think their "reputation for quality" is only from people who haven't visited Disney in a long time. People who are yearly or more often visitors know quality has nose-dived off a cliff.

 

[Sirwalterraleigh]

Like another poster said, once a person is able to afford Disney at its finest, they realize the other trips and places they can visit and start leaving Disney by the wayside. Maybe this wouldnt have started happeninf for years but the pandemic in a way exposed it.

It’s weird...but that same phenomenon is showing in today’s jobs report...if you stretch the logic a little.

 

[Sirwalterraleigh]

No, people who make less than 75k a year and stretch themselves financially to go for a watered down experience that is more expensive than two years ago might simply be making a bad financial decision.

And this is cognitive reasoning...pragmatism...”thinking”

all factors have to be considered to make a grounded assessment. Instead of name calling and looking for faux outrage based on words/semantics.

you start with the ACTUAL price and then extrapolate who can reasonably afford it. That number is interpretative but you can zero in on it a good bit. Then look at what the article is suggesting...and it’s this: they are using their standard advertising - which is for the middle class - and selling a product that isn’t designed for it price wise anymore.

I’m not even saying that’s intentional or “wrong”...but it is going on.

 

[CosmicRays]

 

[Sirwalterraleigh]

View attachment 561857

we laugh...but it’s a far more common thought than we want to realize.

look at how many “most expensive day ever” and “there goes my college fund” T-shirts you see everyday.

its anecdotal - for sure - but it’s also a protest. This isn’t “imagined” as many defenders of Disney (that’s the “void” crowd) want to paint as being.

 

[dsinclair]

High earners in the 150k-300k+ range are typically very smart with their money. That's how they came to earn that much in the first place.

 

[Lilofan]

Paying off a mortgage may not always be sound financially, actually. When interest rates are this low it’s often better to take take money and invest it elsewhere.

I disagree. Paid it off at year 11 of a 30 year mortgage in the early 2000s. Then poured more into the market regardless of share price. Did well but the recession of 2009 was touch and go but created tremendous buying opportunity for those with cash.

 

[kingdead]

I think what they're trying to do is get enough people in for that one-time Disney vacation so their kid can see the princesses/the Mandalorian/etc., then tailor the rest of the experience for Disney whales (people who can pay for meet and greets, dessert parties, Starcruiser hotel, etc.)

The odd thing is that the expensive vacations sound more miserable because the money spent means the pressure goes up. You'd probably have a better time staying in a cheap room and just enjoying the parks, so I assume Disney will keep paywalling everything to make extra outlay necessary (FastPass, low capacity E tickets that may take multiple trips to access).

 

[Trauma]

I disagree. Paid it off at year 11 of a 30 year mortgage in the early 2000s. Then poured more into the market regardless of share price. Did well but the recession of 2009 was touch and go but created tremendous buying opportunity for those with cash.

Paying off my mortgage early allowed me to have plenty of free capital during the latest crash. My wife said I was crazy when I bought 5000 shares at $83. Well let’s just say she is very happy I did.

Disney is paying for our vacation house and heck It may even pay for a fastpass although who knows sounds like I still won’t be able to afford that at $300 a day

 

[Lilofan]

Paying off my mortgage early allowed me to have plenty of free capital during the latest crash. My wife said I was crazy when I bought 5000 shares at $83. Well let’s just say she is very happy I did.

Disney is paying for our vacation house and heck It may even pay for a fastpass although who knows sounds like I still won’t be able to afford that at $300 a day

Your money works harder than you do. Well done.

 

[Chomama]

Paying off my mortgage early allowed me to have plenty of free capital during the latest crash. My wife said I was crazy when I bought 5000 shares at $83. Well let’s just say she is very happy I did.

Disney is paying for our vacation house and heck It may even pay for a fastpass although who knows sounds like I still won’t be able to afford that at $300 a day

Fair enough. Everyone has a different calculus to do when making financial decisions. I just am not a believer in the Dave Ramsey method but that’s not really important for the sake of this discussion.
I do think Disney is getting too expensive for what they offer, but I am also skeptical that they will change their ways. No sign of it so far!

 

[Lilofan]

Fair enough. Everyone has a different calculus to do when making financial decisions. I just am not a believer in the Dave Ramsey method but that’s not really important for the sake of this discussion.
I do think Disney is getting too expensive for what they offer, but I am also skeptical that they will change their ways. No sign of it so far!

It is true things are getting expensive and getting less offerings. It is all relative. If one wants to enjoy an overpriced Disney vacation, perhaps downsize, streamline daily life expenses ( discretionary income enjoyment ) and that savings can allow one's family to go to WDW. I brownbagged my lunch for years at work, the amount of $$ saved was thousands of dollars.

 

[Trauma]

Fair enough. Everyone has a different calculus to do when making financial decisions. I just am not a believer in the Dave Ramsey method but that’s not really important for the sake of this discussion.
I do think Disney is getting too expensive for what they offer, but I am also skeptical that they will change their ways. No sign of it so far!

It might be relevant in this sense. Savings are at an time high thanks to stimulus etc. People will splurge they have the money. When those savings are depleted are they still going to be willing to pay substantially more for less?

 

[Chomama]

It might be relevant in this sense. Savings are at an time high thanks to stimulus etc. People will splurge they have the money. When those savings are depleted are they still going to be willing to pay substantially more for less?

And that may be where we begin to see a problem. These people are going to be bitten by the Disney bug. It’s hard to go back!

 

[heapster411]

We've all scrimped and saved to go to Disney. Earlier on the DW and I had AP's, went twice a year, and for the cost, was worth it. Now with price increases, and nickel and dime charges here and there, I am getting real close to my "not worth it price point". Attendance will always go up because of people doing either a right of passage for the kids, or scratching it off their bucket list. Sooner or later the cost of it won't be justified as a "Reasonable Family Trip".

 

[Lilofan]

It might be relevant in this sense. Savings are at an time high thanks to stimulus etc. People will splurge they have the money. When those savings are depleted are they still going to be willing to pay substantially more for less?

Also equity mutual funds have attracted a half trillion dollars as investors have poured their money into the stock market in the last 5 months. This is incredible.