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Plus, the cabin you book might not be designed for senior living, the way apartments at a retirement home or senior living community would be. You'll also have fewer options for cable TV plans and phone calls and Wi-Fi costs will be pricier than on land. Cruise Hive was established back in 2008 and among the earliest blogs in the industry. Since the start, it's been our aim to provide the latest cruise news covering all the major cruise lines.
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That means at least a few times a year you’ll need to pack your bags and decamp for a new ship. 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. Compared to the cumulative costs of dining out, attending events, and home upkeep in a traditional retirement setting, the financial benefits of cruise living become clear.
Charlotte vs Nashville: Which Is Better for Your Retirement?
Remember, this price is just the average for a basic apartment rather than a retirement community with amenities that cater to retired individuals. To live in a half-decent retirement home community, monthly costs can easily exceed $4,500 per month. Let’s take a closer look at the climate, cost of living, taxes, health care, and 55+ communities in the Nashville area. For retirees on Medicare, the service doesn't cover care outside of the U.S. For that reason, it's a good idea to have regular trips from a homeport in case you need to see doctors. There is medical care on the ship, but it's designed for short-term care, not continual medical treatment.
How much does it cost to retire on a cruise ship?
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. Longer cruises or back-to-back sailings can usually be booked either directly with the cruise line or through a travel agent. Working with a travel adviser can be beneficial, however, because these individuals usually have a leg up on the announcement of new itineraries and prices and will reach out to you when it's time to book. Although many dream about a retirement cruise, only a handful of cruise lovers have actually taken the plunge and made ships their primary residence.
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For one year onboard the Crystal Serenity, the basic single-occupancy stateroom would cost an estimated $164,000. Of course, that figure comes from the average passenger who is living it up on vacation and likely spending more on a daily basis than a retiree would on a ship. For instance, we don't think someone living on the ship would be buying drink packages, gambling every day, or eating in the specialty restaurants on a daily basis.
What kinds of activities when retiring on a cruise ship are available onboard?
Furthermore, personal preferences for customized living spaces or specific activities can also lead to additional expenses. The study estimated the cost of staying on a Royal Caribbean ship at the time to be about $33,260 a year, compared with the national average of $28,689 annually for an assisted-living facility. Before deciding to live on a cruise ship during retirement, it’s essential to start planning early and research the specific cruise lines, itineraries, and costs involved. It’s also advisable to consult with a financial advisor to assess the long-term financial feasibility of such a lifestyle and to ensure you have a suitable retirement plan in place. As a general guideline, retirees can anticipate monthly expenses ranging from $6,000 to $7,500, covering accommodation, meals, entertainment, and onboard activities. Taking a nomadic retirement approach, the yearly cost of living aboard a cruise ship would total around $72,000 – $90,000.
Again, a retiree visiting a port would spend very differently than someone visiting on vacation. Instead, we imagine a person wanting to visit a pharmacy, grocery store, or have lunch off the ship for a change of pace. In that case, we think a total of $8,000 per person ($16,000 per couple) over the course of the year should be plenty for a retiree managing their budget. Anyone that’s taken a cruise — or even shopped for one — knows that what you pay can vary dramatically. There are dirt-cheap fares for interior cabins on budget cruise lines that start at a couple of hundred dollars. Then there are rooms that are nothing short of spectacular that can easily run thousands or tens of thousands for a cruise.
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Grand voyages tend to be a bit shorter than true world cruises, and don't actually circumnavigate the globe. However, they do offer cruisers a once-in-a-lifetime experience to see faraway ports in a discrete region and visit exotic regions of the world. True world cruises cross the Atlantic and Pacific Oceans, thus spending a greater number of days at sea. 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.
These facilities can handle minor illnesses and injuries, but they may not be equipped for more serious medical conditions or extensive treatments. The quality and capabilities of shipboard medical facilities can vary between cruise lines. Other cruise ships offer seniors and other passengers the option to purchase onboard apartments for around $352,000 for 172 square feet. There are also higher-end accommodations starting at around $3.2 million for up to 1,690 square feet. Single cruisers need to determine whether they'll have to pay a singles supplement for a solo cabin. 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 the above options don't appeal, you can always work with a travel agent or a cruise line to string together back-to-back sailings. If you want to experience different ports during your travels, look to the luxury lines, whose ships will often wander the globe rather than sailing round trip out of a particular homeport. Alternately, look for cruises on either side of a repositioning sailing, when a ship finishes up a season in one cruise destination and heads to another region across the world. Residents currently include 142 families from 19 countries whose accommodations range from studios to a six-bedroom penthouse suite. One goal of the floating residence is to foster a sense of community; residents even play a role in shaping the ship's itinerary for future years. Owners can travel year-round if they choose but tend, on average, to spend three to six months aboard each year.
Active adults who like to spend time outdoors will find solace in state parks and urbanites love access to cities like Nashville and Memphis. Buyers who want to move to a 55+ community in TN, Del Webb is behind two communities in the state. Active adults can also opt for long-term cruises, which range from 60 to 180 days. The “Snowbirds in Residence” program from Oceania Cruises launched in 2017.
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.
Almost 20 years later, Farschman now organizes his life around his time at sea — keeping his periods ashore as brief as possible. That said, like every other cruiser, "retirees-at-sea" found themselves back on dry land during much of the coronavirus pandemic, when the U.S. Centers for Disease Control and Prevention shut down all cruises from U.S. ports. Finally, for those seeking a luxury living option, Storylines’ MV Narrative is a larger ship featuring 547 fully furnished apartments ranging from 1 to 4 bedrooms. Retirees can purchase an apartment for approximately $1-8 million, or alternatively, they have the option to rent an apartment aboard the vessel for around $400,000.
Living on a cruise ship wouldn’t change your responsibility to file a tax return. Spending your retirement on the high seas may lighten your budget load, but you still have to plan for taxes and insurance. Finally, living out of a suitcase can be tiresome, especially as you enter your retirement years and want to settle into a permanent lifestyle. 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. Let's find out what's involved and if it's really worth it, with what's included and the downside.
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. But more than that, we find it more likely that someone retiring on a cruise ship would do so with a partner. In both cases, the key is to look beyond the initial costs and consider potential increases in fees, additional expenses, and the overall value of the investment over time.
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