Give Up the Plaques - Different Retirement Gifts are Smart
Posted: Wednesday, December 31, 2008
by Trevor Price
Gone are the days when long-serving employees look forward to getting their retirement plaques and handshakes, then walking away. Today, people want a retirement gift that's practical, usable and represents their decades of service.
So, if you're still handing out retirement plaques, it's time to stop. People don't want a wall ornament that reminds them of work - they want experiences or items they'll actually use. Read on for some fantastic retirement gift ideas.
Admittedly, the classic retirement watch isn't the most creative idea, but it is a gift that you know your employee will use. By giving a long-serving employee a high-quality watch, you're extending to them a great thank you gift for their years of loyal service.
Remember, when giving a watch as a retirement gift, it's critical that you don't choose something too inexpensive. Nothing communicates lack of gratitude like a watch that stops ticking after a few weeks.
The "Experience" Gift
These days, retirees are mobile. They're traveling, moving or exploring, and the last thing they want is more "junk." Instead, give the gift of an unforgettable experience.
A trip to Europe, a cruise down the Amazon, a weekend spent learning how to skydive, a white water rafting adventure, an incredible night at a beautiful restaurant, an unforgettable spa retreat - these are all great retirement gifts. They also minimize the waste caused by producing, wrapping and shipping hundreds of thousands of plaques that will inevitably wind up in a landfill.
A Golf Club Membership
For many retirees, golf is a beloved activity that fills their days. If you know a long-time employee loves to golf, an annual membership to a nearby club is a great means of expressing your thanks and keep them living an active lifestyle.
the Gifts You Should Avoid
As you search for a retirement present, remember that there are a few gifts that should be avoided at all costs. These include anything and everything that is branded with the company logo. They may love working for you, but staring at a wall clock emblazoned with their former work logo isn't everyone's idea of an ideal retirement present.
Next, you should avoid giving any gift that's tied to the work environment. That means desk clocks are out, fancy pens are out, pocket protectors are out and really anything related to work at all should be rejected as an idea. You're celebrating this person's next chapter in life, not chaining their memories to their current one.
Last but not least, avoid high cost gifts or discuss them with the employee beforehand. The IRS has restrictions in place that will actually tax certain presents above a certain monetary value, counting them as "bonuses" rather than gifts. And though retirement plaques may be awful, at least they'll never be taxed.
About the Author:
For great information on senior retirement preparation - please visit seniorretiretips.com - a popular site providing insightful recommendations to help you get ready for the next steps in your life journey - including estate planning and trusts - http://www.seniorretiretips.com/estate-planning-and-trusts.shtml - 401K calculators - http://www.seniorretiretips.com/401k-calculator.shtml - and many more!
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