I inherited a white tie rig and a full set of morning attire from a wealthy relative about 54 years ago. I never could find any occasion for which I could rationalize the expense of getting them altered and eventually they fell victim to the moths. For similar reasons, I have never been able to rationalize getting a good black tie rig, although I would if I could possibly justify the expense.
It might be helpful if you told us where you lived. Is white tie customarily worn by any people in your neck of the woods (except as wedding rentals)? If not, then I am inclined to add my voice to those who have suggested it would be decidedly over the top, and I am not a guy who minds overdressing a bit and standing out from the crowd.
I went to prep school and Oxford and have moved among reasonably prosperous, socially genteel people. I have exactly one friend who had ever worn white tie. He is the son of moderately famous actor and has prospered extremely well. He wore it on one occasion as an escort at debutante ball. It was a rental. This would have been over 50 years ago, which may tell you something.