The actress and singer, who is two years younger than her twin sisters Mary-Kate and Ashley, spoke candidly about her wedding plans in a recent interview.
"I'm relaxed about it, but I am excited and planning ideas because it's fun," Elizabeth told Marie Claire UK. "It's just like throwing a party to celebrate life. I love being in a relationship a lot."
Elizabeth Olsen and Boyd Holbrook
The 25-year-old got engaged last month, just a few weeks after Mary-Kate said "yes" to her 44-year-old French boyfriend Olivier Sarkozy.
When asked about a possible wedding date and coinciding with her older sister, Elizabeth replied, "No, I just told her she gets to pick a date first!"
The Los Angeles-born beauty also revealed what it was like growing up with her famous sisters. "Because my sisters were so grounded, it helped me be grounded," she added. "They never got caught up in things. I did live a charmed life."
Mary-Kate, Ashley and Elizabeth Olsen in 2011
Elizabeth and Boyd, who moved into their Brooklyn home a few months ago, first met on the set of film Very Good Girls back in 2012. The couple immediately hit it off with insiders adding that there was "great chemistry" between the lovebirds.
Since then, Elizabeth has starred in a range of movies including Martha Marcy May Marlene and Silent House. Just last month she was pictured filming The Avengers: Age of Ultron in Italy, which is due out in 2015.
Elizabeth on the set of her latest film
"There are some jobs that I've said no to, because I know what kind of attention they will bring," Elizabeth added, referring to on-screen nudity. "I choose not to have that specific kind of attention.
"I definitely know what kind of lifestyle I want to have. Some people recognize you for your work, not for being pictured going to clubs. So, I try and keep that kind of profile that people know you from your work and that's it."
Older sister Mary-Kate is yet to speak about her engagement to Olivier — the half brother of former French president Nicolas Sarkozy. Her huge vintage engagement ring designed by Cartier did all the talking however, as she was spotted debuting it at Paris Fashion Week.