An individual's retirement is a milestone that is marked with parties, well wishes, and special gifts. A retirement gift is usually an item that the giver intends for the retiree to enjoy in the more easygoing years ahead. It is a good idea for a group to join together to purchase a larger or more meaningful gift by donating to a collection of money. The donations could fund a vacation trip for the retiree and spouse, a custom-made piece of artwork, or a hobby-related gift.
Discuss with a few members of your family or coworkers at your workplace about what the gift choices should be. Make a decision on a specific item.
Get a full description and price listing for the item. Seek out pricing at two reputable businesses at least. If possible, get a photo of the item to show to the group of gift givers. For example, if you are purchasing a large-screen television, piece of furniture, or camera, a clear photo and description of the item's features will encourage possible donors.
Write out a list of family members, friends, or business associates that you think will want to take part in donating to the retirement gift fund.
Compose a letter or email to potential donors to remind them about the family member or coworker who will be retiring soon. Explain that a group of family members, friends, and coworkers have decided to work together to purchase the retiree a group gift. Word the letter in a manner that does not feel forced, so recipients do not feel pressured. For example, you may write: "As you know, John Wilson is retiring next month. I am requesting that everyone chip in $5 so we can purchase him a nice gift to present to him at his retirement party on March 12. If any of you have gift suggestions, please share them as well."
Specify a cutoff date for the person to send or turn in their donation so there is ample time to purchase the gift.
Look for sales on the item the group has chosen to give to the retiree. If you have decided on a commissioned piece of art, quilting, or furniture, order at the item least three months ahead of the party or retirement date.