Your new 'retirement' home could be a cruise ship
Table Of Content
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. When weighing the options for retirement living, the choice between retiring in a community and embarking on a cruise ship lifestyle presents a series of contrasts, each with its benefits. While it can be exciting and adventurous for a retiree, it has drawbacks, especially as a long-term retirement solution. If you can’t afford to live on cruise ships for a long time, we recommend a more practical solution of simply incorporating regular cruises into your retirement. That would give you the perfect mixture of adventure at sea and the comforts of home and family. While it is true that most modern cruise ships are equipped with access ramps and elevators, they are not purposefully designed for the needs of elderly residents in the same way that a standard retirement community would be.
How Much Cruise Lines Spend on Food (Less Than You Think?)
Living on a cruise ship year-round may mean being away from your family and friends for long periods of time. Your cruise dates may coincide with major milestones such as graduations or births. If you’re receiving Social Security, some or all of that income may be taxable if you also have earned income.
Search Cruises
Those thinking of long-term retirement on a cruise also need to assess whether they intend to maintain a residence on land with the attendant costs (e.g., mortgage/rent, taxes, insurance, utilities, etc.). If not, they may need to consider storage fees for personal belongings/goods. There are two ways to consider the costs of spending retirement on a cruise ship.
Meet Retirement Planning Consultants in Your Area
However, it’s essential to account for additional expenses such as specialty dining, shore excursions, internet access, and personal spending. Furthermore, the cost of comprehensive health insurance that covers international travel is a must-consider for cruise ship retirees. 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.
Port Canaveral, FL
'We Bought a Home on a Cruise Ship': A Wonderful, Novel Way To Retire - Realtor.com News
'We Bought a Home on a Cruise Ship': A Wonderful, Novel Way To Retire.
Posted: Fri, 29 Mar 2024 07:00:00 GMT [source]
But more than that, we find it more likely that someone retiring on a cruise ship would do so with a partner. There's always something to do on-board or on-shore when you're living on a cruise ship. There are so many options and Cruise Retirement can help you explore them all. There's sitting at home looking out at a scenery that never changes or there's a different lifestyle where every day brings new horizons and cultural experiences. Cruise ships can offer recreational activities so that you have a way to stay active while engaging with other passengers. As you compare cruise lines, consider what opportunities for socializing they provide.
Tips for Planning the Perfect Retirement Cruise
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. But unlike many of his fellow cruise passengers, Farschman basically lives at sea. He spends months traveling the world's oceans and waterways — half of the year, if not more.
Couple Spends Nearly Two Years on Back-to-Back Cruise Vacations - PEOPLE
Couple Spends Nearly Two Years on Back-to-Back Cruise Vacations.
Posted: Tue, 03 Oct 2023 07:00:00 GMT [source]
Over on the West coast, the biggest cruise ports are located in San Diego and the Los Angeles area. Cruises from these ports on major cruise lines take you to places like Mexico's Baja peninsula, Hawaii, the Mexican Riviera, Panama Canal, Pacific coast, South America and Alaska. Unlike many retirement homes, which might have a more limited social circle, the cruise ship environment allows for a broader and more diverse social network, promoting a sense of community and reducing the likelihood of isolation. One of the most prominent advantages of choosing a cruise ship over a retirement home is the ever-changing backdrop and the sense of adventure. Cruise ships offer the opportunity to wake up to new destinations regularly, providing a continuous change of scenery and cultural experiences.
Financially, living on a cruise ship might present a more predictable budget compared to some high-end retirement homes. Imagine stepping into retirement with an eye for adventure and a keen sense of budgeting. You’ve worked hard all your life, dreaming of a retirement filled with new experiences, but the high costs of luxury retirement communities seem out of reach.
Planning for Retirement in Your 50s: Catching Up From A Late Start
Given that the average monthly rent of a 900-square-foot apartment in the United States is now $1,702, if you purchase a low-cost cruise instead, it starts to make some financial sense. In addition to perks that are advertised, it never hurts to ask for ones that aren't mentioned, says travel agent Flagg. Sometimes various luxury travel networks, like Virtuoso, extend extra perks for travelers booking cruises through one of their advisors. Cruise lines are aware of how costs can add up when cruising for several months on end, so most offer discounts and freebies to travelers on lengthy voyages.
Residence prices are based on square footage and range between $2 and $16 million. But anyone who buys a cruise knows it’s not just the cruise fare you have to pay. That’s why we also factored in the taxes and port fees and the automatic gratuity. And remember, if you book a cruise cabin, it’s normally sold on the basis of double occupancy.
They have formed strong bonds with their fellow passengers and enjoy this aspect of cruising immensely. The ability to visit numerous destinations without the need to organize travel logistics provides a level of convenience that traditional retirement homes can’t match. These great-grandparents have, at this point, spent over 500 days at sea and hope to spend 500 more on the open waters. Choosing the Coral Princess as their means of transportation, the Ansen’s have surpassed both the crew and the captain in terms of time on board the ship. As you weigh the options, consider what matters most to you in retirement.
Most embark in January, allowing travelers to spend the winter holidays with their families then set sail for warmer climes to skip the remainder of the cold-weather season. And in most cases, you won't be able to rely on Medicare for your health coverage while out of the country. For that, you'll need a travel or ex-pat health insurance plan, with costs ranging from around a hundred per month to thousands, depending on your coverage specifics. Plus, your cruise retirement could be cut short at any point by health issues.
Comments
Post a Comment