Retirement Home Vs Life At Sea On A Cruise Ship

Table Of Content

• The Realities of Life Aboard a Cruise Ship
• The Cost of Staying on Land
• Cruising's clarion call to retirees
• Buying a Permanent Cabin for Retirement
• What happens if you experience a medical emergency on a cruise ship?
• How much does it cost to retire on a cruise ship?
• Best cruises from Southeast Asia from $462pp for five nights

That’s reassuring for emergencies but if you have a non-life-threatening condition that requires specialized treatment, that may be more difficult to come by on the ship. Of course, if you decide to keep your home while living on a cruise ship, it would change those numbers. And even if you sell, you may have to account for other land-side expenses, such as storage for personal property or vehicles, or debts you may still be paying off.

The Realities of Life Aboard a Cruise Ship

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The Cost of Staying on Land

Cruise retirement doesn't rule that out, but it does make it a bit more complicated. It's hard to be the type of granny who can frequently babysit when you live on a cruise ship, potentially thousands of miles away from where the grands live. If your family wants to visit you, they'd have to pay for cruise fare for everyone. If you can invest in ownership or lease of a stateroom, your cost per night (beyond your purchase or rental price) can be lower than cruising traditionally.

Cruising's clarion call to retirees

Is Living on a Cruise Ship Really Cheaper Than a Retirement Home? - MSN

Is Living on a Cruise Ship Really Cheaper Than a Retirement Home?.

Posted: Sun, 21 Apr 2024 10:17:18 GMT [source]

Over a 20-year retirement period, this lifestyle would translate to an expenditure of approximately $1.54 million. Some lines, like Regent Seven Seas, offer all-inclusive packages, including gratuity and off-shore excursions, while others have meals, classes, and entertainment factored into the original price. For active adults interested in retiring part of the year on cruise ships, many lines also offer rates that include airfare to and from their home base, most of which are in South Florida. In general, retirees on many cruise lines can expect to pay out-of-pocket for specific alcohol, gambling at on-board casinos, and buying from the gift shop. The cost could be lower for seniors who establish themselves as permanent residents aboard a cruise ship. There are several cruise lines that allow travelers to purchase an apartment or condo onboard, with food and other amenities included.

When you choose to apply (and are approved) for a new credit card through our site, we may receive compensation from our partners, and this may impact how or where these products appear. Please view our advertising policy and product review methodology for more information. Even if you sell your home to live full-time on the ship, renting storage space for any belongings you can't bring on the ship will add up. Looking at every cruise Harmony of the Seas sails in 2025, we priced out the cost of a balcony cabin for each individual trip.

Status is shared with domestic partners or spouses living in the same household, regardless of whether they went on the same number of cruises. Other ways to boost status would include taking advantage of double points offers like the one Celebrity Cruises is running this year on European cruises or by cruising in upper-level suites. A feeling of confinement is tops on the list of reasons people I talked to said they couldn't retire on a cruise ship. Even on a large ship, you can only go where it goes, plus the room you call your own is likely to be far smaller than what you are used to. There's a certain loss of freedom, but that's common with many forms of retirement living.

What happens if you experience a medical emergency on a cruise ship?

We help professionals and entrepreneurs in their 30s and 40s elevate their finances and maximize their money. We are based in Washington, D.C and we work with people virtually nationwide. We’re changing the way people 55 and older are searching for their perfect next place. Whether you’re interested in a low-maintenance single-level residence, an active lifestyle or age-qualified community, an intimate enclave, or anything in between, we can help you make your next move the best one yet.

This included the ticket price and onboard spending for food, entertainment and miscellaneous purchases. Based on that number, the average cost of living aboard a cruise ship year-round would total a little more than $77,000 for retirees taking a nomadic approach. So if you were planning to spend 20 years in retirement, you could spend $1.54 million to live on a cruise ship. While the upfront cost might seem all-inclusive for cruise ship living, extras like internet access, laundry services, and specialty medical care can add up. Additionally, long-term health care and emergency repatriation (if necessary) are significant considerations that require additional planning and insurance. The allure of retiring on a cruise ship lies in the promise of adventure and its practical and financial benefits.

Best cruises from Southeast Asia from $462pp for five nights

On a cruise, not only do you get to enjoy yourself on the ship as you travel from port to port, but you also have your food, entertainment, housekeeping and more included making it an ideal lifestyle for retirees. Similarly to Victoria Cruises Line, the ship will stay longer in ports than traditional cruise ships. Now a new line, Victoria Cruises,  is offering a another option for long-term, live-aboard residential cruising, with a stronger focus on affordability and individual experience. Long cruises of up to six months work out at an inclusive price of about $258. The cabins are generally smaller compared to typical retirement homes, which might pose a challenge for individuals who prefer more space or have specific needs. Moreover, the lack of continuity and familiar surroundings might be unsettling for some seniors who prefer a more stable and predictable living environment.

In this blog post, we’ll explore the concept of retiring on a cruise ship, the benefits it offers, and how you can make it a reality. One of the biggest draws for active adults living on a cruise ship in retirement is the amount of amenities and conveniences located onboard. Dance lessons, yoga classes, and state-of-the-art spas and fitness centers are all just a short walk away. The World, for example, has a study with over 4,000 books that are consistently updated to include New York Times best sellers.

On most ships there's a cost to get medications or use the ship's infirmary. In addition, "you may need to be transported by helicopter off of the ship," says financial adviser Michael Gerstman, of Gerstman Financial. "There are insurance policies that cover the cost of such transport," but premiums vary based on age, length of travel, and type of coverage.

Retiring on a cruise ship involves unique logistical considerations, including managing your legal residency status and tax implications and ensuring you have the right insurance coverage. These aspects require careful planning and advice from legal and financial professionals. Planning for an affordable yet fulfilling retirement involves balancing dreams with reality. Whether it’s the changing horizons of cruise ship living or the stable community of a retirement home, being informed and planning ahead financially can help you make the right decision based on your circumstances.

How much extra that costs you depends on the cruise line (and how often you do laundry). The best value cruise from Royal Caribbean is a 13 night foray through Spain and the Canary Islands. A basic cabin on the ship is going to cost you $562 per person, which shakes out to $43 per night. Enough people have been Googling “how to live on a cruise ship” that somebody decided to really deliver on the dream. Life at Sea Cruises is launching a 3 year cruise voyage in November, 2023.

Retiring on a cruise ship might not be the first idea that comes to mind when you think about your golden years, but it offers a unique set of advantages that make it an appealing option for some retirees. Let’s take a closer look at the climate, cost of living, taxes, health care, and 55+ communities in the Nashville area. Initial steps toward cruise ship retirement might also include selling one's home (or preparing it for becoming a rental), disposing of excess possessions and re-homing pets. You will also want to consult with a financial advisor to help with residency laws and money management that might allow you to cruise even longer into retirement. Taking an extended cruise is a good first step toward deciding if you want to make cruising a more permanent retirement option. I met a woman last year when I cruised on Royal Caribbean's Grandeur of the Seas who was in the planning stages for the cruise line's 274-night world cruise.