Here's to marriages with no prenups! Newly engaged Mariah Carey and James Packer are reportedly skipping the prenuptial agreement conversation and heading straight into marital bliss, according to a report from Radar Online. A source told the online publication that the "We Belong Together" songstress convinced her billionaire fiancé that a prenup isn't needed as they make plans for their future together.

"It seems like she has convinced him that there is really no need to even have one to begin with," the insider said, adding, "She told him that she really doesn't need his money because she has plenty of her own."

Carey's two-decade long career has earned her a fortune estimated at $520 million, while Packer, 48, has a fortune of $4.7 billion. A prenuptial agreement would protect both of their fortunes if their marriage did not work out.

"James said he did not want to upset Mariah by focusing on the whole prenup thing because she would like to think that they will be together forever. Bringing up such a minor issue would just take the romance out of the equation," the insider said.

Following their less than one year romance, Packer proposed to Carey in New York on Jan. 21 with a 35-carat diamond ring, estimated at almost $8 million. Wilfredo Rosado, who designed Carey's engagement ring, opened up to Vogue Magazine about the massive ring, saying that the idea was to create a ring that "could not be measured up to."

"We really only had just over two weeks to pull it off, working 12 hour a days, and I consulted with James about the ring three different times during the process," he said, "He wanted to create something very rare and very beautiful around this diamond he chose, and I followed his lead."

"She obviously has a strong point of view about what she really likes," he continued. "We have the same taste, and when it really came down to it, I really wanted to create something that was about new beginnings. I wanted to give her something super sophisticated and something that took away all of the embellishments that a lot of people use when they design engagement rings these days. But it is epic. It's an epic ring for an epic time in her life."

Packer was planning on proposing on Valentine's Day but "could not wait any longer," a source told Radar Online. As for Carey, the source added that the songstress and mother-of-two has been preparing to be Packer's wife for some time.

"She has wanted to be his wife pretty much since they first got together and has already started to plan what type of wedding she wants to have," the insider said.