Is it ok to give my father a cheque as a retirement gift? (state, relatives)
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My dad will be retiring early this year after 40 years in a stressful office job. The primary reason for retiring early is for him to spend more time with his parents who are both over 100 and are struggling to look after themselves. I don’t think his financial situation at the moment will allow him a luxury retirement, but is enough for them to continue living as they are now. I want to write him and my mum a cheque for around £5,000 so that they can go on a big holiday and spend some time not worrying about everything. I don’t want to book a holiday for them because I want them to be able to choose where and when they want to go, hence the cash.
I’m in my early 20s and financially independent, but have never given my parents any kind of cash gift before. Essentially I’m not sure of the etiquette around retirement gifts, and I don’t want my parents to feel in any way embarrassed or guilty to receive this gift.
Would love some opinions on whether this is an appropriate gift.
Go for it. I would discuss with them that you want then to get away on trip. I think you will have to sell the idea as they probably would not want to spend any money on the trip. Once you have the commitment for the trip I would give them the money.
A fall back would be for them to pick the trip and you pay the bills. This could get a little complicated depending on the trip they pick. The idea is if they really do not like spending the money you paying the vendors directly might make it a little easier for them to say yes.
Also be open to other ideas on how they might like to spend the money. Some people do not want to travel or at least not to expensive destinations. My parents would have preferred to spend the money on camping equipment or a small, used camping trailer. My brother and his wife were always pushing the parents and relatives to go on international travel but we were not interested. It would be nice if they spent it on something they would truly enjoy.
I agree with the other posters here. It is a nice idea and as ABQ said make sure the note suggests more than just taking a trip. A few ideas in the note and allow them to make that choice. It is good that you will be giving them money rather than an already purchased trip. Your ideas might not quite align with their ideas.
What a great gift. Just write them a note as to what the money is intended for (a vacation together). This way, he won't spend it on a new roof for the house.
My dad will be retiring early this year after 40 years in a stressful office job.
I want to write him and my mum a cheque for around £5,000
so that they can go on a big holiday and spend some time not worrying about everything.
I don’t want to book a holiday for them because...
I'm gonna take a view contrary to the others and say that CASH should be a last resort only.
(Aside from being gauche)
Why? I'd be concerned about them NOT taking the trip.
That they would keep looking hard at that "financial situation at the moment" they have
as they put the cash away with their other rainy day savings and never actually use it.
---
The problem is getting enough on deposit with a travel agent of some sort.
How much is really needed and who would be the best/safest agent to use (in the UK).
This question might be asked best in the Travel forum.
I'm gonna take a view contrary to the others and say that CASH should be a last resort only.
(Aside from being gauche)
Why? I'd be concerned about them NOT taking the trip.
That they would keep looking hard at that "financial situation at the moment" they have
as they put the cash away with their other rainy day savings and never actually use it.
---
The problem is getting enough on deposit with a travel agent of some sort.
How much is really needed and who would be the best/safest agent to use (in the UK).
This question might be asked best in the Travel forum.
I kinda agree with this, I know quite a few elderly people who would have no interest in a trip, & would prefer to put the money in savings. They may have no interest in travel, I would try & talk to them about things they would like to do, maybe over a nice meal at home, & suss out what they would like, Of course if you are Ok, with them putting the money in savings, then that is Ok too.
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