How much money should you spend for a retirement gift?

The amount to spend on a retirement gift can vary widely depending on your relationship with the retiree and your budget. Generally, a thoughtful gift can range from $50 to $100 for colleagues, while closer friends or family might warrant a more substantial investment, potentially $100 to $500. Ultimately, it's the thoughtfulness and personal touch that matter most, rather than the price tag. Consider what would be meaningful for the retiree when deciding on the amount.