The budget for a retirement gift depends on various factors, including your relationship with the retiree, your personal finances, and the retiree’s preferences. There is no fixed amount, but here are some key considerations:

Relationship: Your closeness to the retiree may influence the budget. Close friends or family members might opt for more significant gifts, while coworkers or acquaintances might choose more modest ones.

Finances: Select a gift that fits comfortably within your budget. Avoid overspending or straining your budget.

Gift Type: The type of gift you choose will affect the budget. Personalized or luxury items tend to be more expensive, while thoughtful yet budget-friendly options are available.

Retiree’s Preferences: Consider what the retiree values. Some may appreciate sentimental or handmade gifts over costly ones, while others may prefer luxury items.