How to Retire on a Cruise Ship: Cost Calculations & Advice
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You could maintain a private health insurance policy as a supplement, but you’d need to read the fine print. Make sure your coverage includes any treatment that a cruise ship’s physician may offer. The best plan is to plan well ahead, starting with a few long cruises to make sure it's a good fit.
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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. If you plan on spending a significant portion of your retirement on cruise ships, you have to ensure that you are looking into cruises suitable for that type of travel. With many retirees choosing to take to the seas, some cruise lines have started tailoring voyages to that demographic.
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Another option for a residential ship is Storylines, which bills itself as a “luxury residential community at sea,” boasting a garden, 20 restaurants, three pools, a microbrewery, and a 10,000-book library over 18 decks. We chose to analyze cruising aboard a moderately priced Royal Caribbean ship for a year. Specifically, we chose to price out the cost of sailing for a full year on Harmony of the Seas. Also, take into account the broader list of amenities to determine whether a cruise line offers the features that interest you most. For example, you may be looking for an on-deck walking track, gym, or yoga studio so you can keep up your fitness routine. Or you may want a cruise that allows you to pamper yourself with regular spa treatments.
Amenities
Sea ya! I'm 80 and I'm selling my NYC apartment to go live on a cruise ship - New York Post
Sea ya! I'm 80 and I'm selling my NYC apartment to go live on a cruise ship.
Posted: Sat, 14 Oct 2023 07:00:00 GMT [source]
For permanent residents and snowbirds, cruises also offer a chance to vacation with the whole family. Though many cruise lines do not allow guest access to the ship, some lines, including Seabourn, will allow families and guests on board to visit at a port of call with advanced notice. Otherwise, families can meet at specific ports for cultural trips together.
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Reflecting on personal preferences for adventure versus stability is crucial. If the idea of waking up in a new destination regularly excites you and you enjoy the unpredictability of travel, cruise ship living could be a thrilling option. On the flip side, if you value routine, the familiarity of community, and the stability of having a permanent home base, a retirement community might be more your speed. Cruise ship living simplifies life in a way that’s hard to find on land. With meals, entertainment, and room maintenance included, the hassles of daily chores and bills become a thing of the past. This all-inclusive approach removes the household management burden and proves cost-effective.
Meet the Retirees Who Live on Cruise Ships
This can help you manage these types of costs if they become necessary. According to online travel insurance company Squaremouth, this coverage typically costs around 5% to 7% of the trip cost when purchased through a third-party insurer. Cruise lines can also offer their own travel insurance, which includes emergency medical coverage. When weighing the costs of health care, it’s important to think about your overall health.
Something else to keep in mind is the quality of care you could receive on a cruise ship. Ships are required to maintain medical staff on-call 24/7, including at least one physician. 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. If you’re receiving Social Security, some or all of that income may be taxable if you also have earned income. Working a regular job while living aboard a cruise ship probably isn’t likely, but you might be making money from an online business. The financial aspects, particularly when it comes to health insurance, are likely to be tricky, requiring careful planning with expert advice.
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We understand that time is the greatest luxury, which is why Condé Nast Traveler mines its network of experts and influencers so that you never waste a meal, a drink, or a hotel stay wherever you are in the world. A financial professional will offer guidance based on the information provided and offer a no-obligation call to better understand your situation. There are cruises that depart every 180 days and go all around the world, with prices starting at $35,899. The average cost per person per day on a cruise is estimated to be around $ , according to Cruise Market Watch, a website that keeps track of the ocean cruise business. Cruises are available for all age groups but retirees can find cruises particularly appealing because of their many amenities. Your health insurance probably won’t cover a helicopter to the mainland.
How You Can Spend Retirement Living On A Cruise Ship, And How Much It Will Cost
So, the cruise ship’s medical team would most likely have you transferred to an adequate healthcare facility, which may or may not be covered by your medical insurance. For starters, you will want to book a cruise that offers a long-term itinerary. You don’t want to be forced to shift from one ship to another every few days, so look for a cruise allowing passengers to stay for months. While some people prefer the flexibility of only paying for exactly what they want while on board a cruise, this is only really practical for short-term vacations. If you were planning to spend several months or more going from one cruise to another, you would need to have everything included for one predictable fee. For reference, Royal Caribbean Group -- across all of its cruise lines -- reports onboard revenue as roughly 45% of its passenger ticket revenue in SEC filings.
Life at Sea Cruises is launching a 3 year cruise voyage in November, 2023. 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.
So if you were planning to spend 20 years in retirement, you could spend $1.54 million to live on a cruise ship. Cruise ship living might initially appear as a cost-effective solution, with packages that include lodging, meals, and entertainment. 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. An alternative to booking back-to-back cruises or buying a condo is booking long-term cruises.
The ship will be staffed with a team of doctors, nutritionists, and physiotherapists who can do wellness checks as well as tend to any medical issues while you are onboard. There is also a pharmacy and a post office so you can send that postcard from far away places. The ship — named the Narrative — will have 20 dining options, bars, three swimming pools, a bowling alley, a movie theater, a microbrewery, and a library with 10,000 books. The ship will also grow its own produce thanks to a solar-powered hydroponic garden. The state-of-the-art wellness facility will include a spa, salon, juice bar, and fitness center.
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