My Mom Is Retiring This Month—Here Are 30 Gifts I’m Considering for Her (2024)

FAQs

How much to give for a retirement gift? ›

The vast majority of workers don't spend more than $20 per gift when it comes to coworkers. However, your relationship with the retiree will have a big impact here, so take that into account. If you go lower than $10, it can come off a bit like you don't care all that deeply about the person retiring.

Consider Their Hobbies

A thoughtful way to bid farewell is by selecting a gift related to their hobbies. For example, a whale wine pourer and aerator for a wine enthusiast can be a cherished gift. Adding a custom gift box to your retirement gift can elevate the gesture and make it truly unique.

Many people mark this momentous event with a party to signal the end of one chapter in their life and the beginning of another. When you go to any party, it's always nice to bring along a little gift for the guest of honor; a retirement party is no different.

Determining the appropriate amount of money for the guest of honor relates to how close your relationship is with them. The following cash amounts are generally acceptable: $20 to $25 for a co-worker or acquaintance, $50 for a close friend and upwards of $100 for a family member.

Staff Length of Service/Retirement Gifts

Timing - Gifts may not be made within the employee's first five years of service or more frequently than every five years. Gifts given more often than these requirements will be taxable in full.

Sometimes hosted by the retiree's family and sometimes an official company event, the retirement party is an event where you want to mix the guest of honor's family and friends with their work colleagues.

Try to be as specific as possible during the conversation, since your co-workers may not feel like donating to a vague, unnamed gift. You might say: “We're thinking about getting Jamie a new coffeemaker as a retirement gift. Would you be okay with donating about $10?”

But after I put out a call for readers to share their experience, almost all respondents said they gave their employers at least 3 to 6 months' notice, and sometimes more, with no regrets or concerns. So the traditional guideline for retirement notice hasn't expired yet.

Should you give your boss a gift when you retire? ›

Giving gifts to your boss isn't mandatory, but is necessary if you feel close to them, and how good they have been as a mentor, friend, or coworkers. Giving a gift is a sign that you care and wish the best for the boss' life after retirement.

Ready to Go: My research on this topic indicates that when it comes to retirement, three to six months advance notice has been considered standard, although given your perception of the company's attitude toward you, as well as your attitude toward the company, in my view three months seems generous.

There's a consensus that spending 0-50 on a retirement gift is reasonable for an individual, but the budget for an employee group or company is less exact. Larger organizations often point to the 00 limit before the recipient must pay tax per the IRS.

Depending on the cost of living in your state and the average salaries in your organization, anywhere from $5 to $15 or even $25 may be the average. For instance, senior executives may have a higher standard donation than hourly employees.