Throw a Retirement Party on a Budget

Throwing a retirement party is an amazing way to celebrate someone's hard work over the years. If you're planning a retirement party for a coworker, family member, or friend, know that it's entirely possible to throw a wonderful celebration on a budget. This article has some tips on how to save money on just about everything, including decorations, food and beverages, and the venue.

Steps

Throw the party at the office or at your home.

1. Go for a free venue to skip the reservation fee. Make things just as festive as a professional venue by decorating the office for the party. If you celebrate at home, decorate your living room and other areas that guests will be welcome in. You might also try keeping the guest list small so that everyone can fit nicely. The retiree will be happy to be surrounded by coworkers, family, and friends in such a comfortable, relaxed space, and you'll save a lot, too.
   • Go for this option if you've got a smaller guest list (10 or fewer attendees).
   • If you've got a backyard, set up some food and drinks outside as well. A sunny backyard setting is perfect for a retirement party.
   • If your office or home isn't an option, try throwing the party at a park instead. Call beforehand to make sure you don't need a reservation. Then, get there ahead of time to make sure no one's taken your desired spot and set up decorations.

Pick a theme that is budget-conscious.

1. Repurpose items you have instead of buying things you'll use once. Think about this retiree's favorite things to do as well as the job they've spent their life doing. Base the theme off of their interests and arrange items related to that throughout the office or house. To make things more celebratory and sentimental, arrange photos of the retiree throughout the space, and see if any fellow coworkers can supply any more photos and memorabilia.
   • Perhaps the retiree was a teacher. You might try arranging books, rulers, and pencils as table decorations. Make things more festive with a whiteboard or a mini chalkboard that says something like, "Happy retirement Mrs. Peters!"
   • Maybe the person retiring really enjoys fishing in their spare time. Decorate the tabletops with fishing nets and paper cutouts of fish (you can print these at the office or at home). You might also add a handmade sign that says "Gone Fishing" on the wall.
   • You might try getting in contact with the spouse or close friends of the retiree to see if you can borrow any items to use as decorations.
   • As an alternative to arranging physical photos, make a digital slideshow and set it up to play on a TV or computer throughout the party. Ask guests to send over any photos they have with the retiree to prepare it in advance.

Encourage guests to contribute to buying a special gift.

1. This makes an expensive, thoughtful gift into a much more affordable one. Consider reaching out to your coworkers and other guests to see if they'd like to contribute funds to go towards a nice retirement gift. Include details about how much they'd be expected to pay (or let them know that any contribution would be appreciated) and tell them what gift you'd like to give the retiree.
   • Classic retirement gifts include watches, plaques, and nice champagne.
   • It's possible this will still be too expensive. Try a low-budget retirement gift that will still make the retiree smile, like a photo album or an assortment of chocolates. If you go for the photo album, encourage all the guests to write a kind inscription inside.
   • If this option isn't feasible, buy or make a card that everyone can sign for the retiree.

Serve appetizers and desserts instead of main courses.

1. Make sure to set the start time when people won't expect a big meal. The cost of serving a big meal to 10+ guests can get pretty steep. Offer an arrangement of appetizers, snacks, and desserts to help you throw the party on a budget. Make sure you've got some vegan and vegetarian options so everyone has something to snack on.
   • You might try making a charcuterie board out of some inexpensive crackers, olives, and cheese. As an alternative, try a variety of chips, vegetables, and crackers with an array of dipping sauces.
   • Be sure to include some sweet celebratory treats, like cupcakes, donuts, and fruit, as well.

Make it a potluck to save money.

1. Asking everyone to contribute food helps you cut costs. To throw a seamless potluck, let guests know on the invitation that the party is a potluck. Then, share a link to a spreadsheet with options, like appetizers, main courses, and desserts so people can sign up for what they want to bring.
   • Include options like plates, utensils, and drinks as well.
   • You might try taking responsibility for the cake or main dessert since you're throwing the party. Bake it yourself or purchase one at the bakery of your local grocery store.

Craft a signature cocktail or drink.

1. Making one drink is much cheaper than buying a huge variety. If you're serving alcohol at the party, pick a cocktail recipe that requires inexpensive varieties of alcohol (a sparkling wine, for example). Then, buy enough to accommodate your guests. For guests that don't drink, purchase some non-alcoholic options as well.
   • As a non-alcoholic alternative, offer a few different flavors of sparkling water. This can be purchased in bulk on a very tight budget.

Consider splitting the costs with the other guests.

1. If they accept, make an agreement about what each of you will pay for. First, reach out to see if any of your coworkers (or others in the retiree's circle) would like to plan the party with you. Then, determine what each of you would like to contribute. This will help you save money and delegate responsibilities so that planning the party is easier and more cost-effective.
   • Send out a text or email with details about the party to give them more information. Try, "Hello everyone! Marcy is retiring and I would love to throw her a party to celebrate. Would anyone be interested in planning one with me? We can lower the cost if we all plan it together."
   • Draft up a budget with all the fellow party planners that includes things like food, drinks, and decorations.
   • You might try splitting the cost of everything equally so that you're all contributing a fair share.

Keep the guest list small.

1. Narrow it down to other coworkers, family, and the retiree's closest friends. The larger the party, the more guests you have to accommodate (and spend money on). Keep the guest list small and you'll spend less on things like food, drinks, and party favors.
   • To keep things small, invite 10 guests.
   • Keep your venue in mind when you're planning the guest list. Make sure all your guests can reasonably fit in the space before you send out your invitations.

Send e-vites to save on invitations.

1. This helps you skip the cost of paper invitations. Include the location, date and the time of the party, whether food and drinks will be provided, and of course, what you'll be celebrating. Offer the option to RSVP so you can know who's coming ahead of time.
   • You can also use social media sites like Facebook to invite guests. Just make sure all of your guests are on the site so you don't miss anyone.
   • In addition to helping you save money, e-vites are also more environmentally-friendly.

Queue up a playlist instead of hiring a band.

1. Make it a few hours long and plug your computer or phone into some speakers. Though a DJ or a band can heighten the experience, paying for live entertainment can really up the cost. As a budget-friendly alternative, use an app like Spotify or YouTube and make a mix of fun, upbeat songs to play during the party. Throw in some classic party anthems and include some of the retiree's favorite songs if you know what they like.
   • If you're not sure what to include, make the playlist collaborative and share the link with your coworkers and other guests. Ask them to contribute 2-3 songs to the playlist each.

Plan fun (and free) activities.

1. This ensures people have a good time without having to spend a lot. Rather than buying party games, opt for something like trivia about the retiree, a toast, or even a roast. You might try coordinating these activities with your coworkers or among the guests that know the retiree super well.
   • Trivia is a fun way to put the guests to the test about how well they really know the retiree. Write up a few trivia questions and announce who got the most right later on in the party.
   • Set up some board games for guests to entertain themselves.
   • Only go for a roast if you think the retiree would honestly find that funny. If you're not sure or think they'll get offended, encourage guests to toast to them instead. No matter what you choose, give everyone a few minutes to share their feelings about the retiree.

References

See also

• Make a Retirement Gift Basket
• Know How Much to Give for a Retirement Gift
• Make a Retirement Scrapbook
• Use Life Insurance in Your Retirement Planning
• Transfer Retirement Funds to a Roth Ira
• Start a Retirement Home in Ontario
• Retire from a Job You Love
• Prepare for Early Retirement
• Prepare for Retirement in Your 20s
• Plan for Long Term Care

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