Posted on 02/14/2021 9:51:54 AM PST by sodpoodle
Cruise prices fluctuate wildly based on the time of year, the destination, and what type of room you're booking. But it's possible to find rooms for less than $100 per day per person. If you're living on a cruise ship full-time, $3,000 per month can seem expensive. Keep in mind, though, that you'll also be saving money in other areas.
For example, most food and drinks are included in your cruise fare. So unless you're splurging on specialty drinks or fancy restaurants, you won't need to budget much for food. You also won't need to worry about other costs you're used to paying at home, such as gas and other commuting costs. If you dive into the cruise living lifestyle headfirst and sell your home and car, you won't even have a mortgage or car payments to take care of. Even if you still want to have a primary address, you can downsize your home just for a place to crash between cruises (and even rent it out while you're away at sea). As a bonus, the extra money you'd save by selling or downsizing and/or renting it out can go toward your retirement fund.
The biggest benefit, though, is essentially treating your retirement like one long vacation. While retirement is already a permanent vacation of sorts, with cruise ship living, you no longer need to worry about housecleaning, yard work, or other chores that you'd still be stuck with at home. And as you age and those things become more difficult, spending the majority of your time on a cruise ship is likely more appealing than moving into an assisted living facility.
Cons: A potentially expensive retirement lifestyle Although cruise ship living has its financial perks, that doesn't mean it's always more cost effective than retiring on dry land.
One of the biggest considerations you'll need to make involves healthcare. Medicare doesn't cover healthcare expenses outside the U.S., although there are some exceptions if you need medical care aboard a ship. For example, you may be covered by Medicare if you incur medically necessary expenses while in territorial waters adjacent to the U.S. However, if you're more than six hours away from the nearest U.S. port, Medicare won't cover you.
You do have other options, such as a Medigap Plan or travel insurance, but it's important to do your research and talk to an insurance provider to make sure you're choosing the right plan for your situation. If you go without insurance, you could face some hefty medical bills in the event of an illness or accident. This is especially important as you age, because although they may be more affordable than nursing homes or assisted living facilities, cruise ships aren't equipped to provide specialized care.
You'll also need to iron out a few legal and financial details before you go, such as where your Social Security checks should be sent and how you'll handle your taxes, which will likely require the help of a financial planner. Plus, retiring at sea requires a lot of careful planning. You very likely won't find a cruise that will let you live on board 365 days a year, so you'll instead need to book many shorter-term cruises back-to-back. Expect to spend a lot of time researching the best deals and finding cruises that align with your schedule, then double-checking that all the dates line up -- the last thing you want is to mix up your arrival or departure days and end up stranded in a foreign country.
Retiring at sea isn't for everyone, but for the adventure seeker who is looking for an out-of-the-box retirement, it just may be the ideal way to live. Just make sure you do your research ahead of time and plan accordingly so that you can enjoy your retirement to the fullest.
Almost ditto, tho not so much acreage.
Out on my 5045E John Deere last night clearing fallen iced trees blocking my 1/2 mile driveway - and loving every minute of it.
Still cut and split my own firewood, heat with wood & do it all a 75.........
And what about family & friends? Our 8 grown children and 5 grandchildren still find our place the hub of weekly family activity and fun.....hiking or ATV’ing in 1,000 acres of surrounding forest and much more.
I love a week long cruise but would go insane.......
Can I bring my 6 cats? :-)
Capt. Parmenter: "...you're going to pick wildflowers at night...???"
Agarn: "Yes...that's what makes it...so wild..."
Another scheme I’ve heard about is nursing homes bringing sex workers to ‘manage’ the more randy men, with the workers posing as therapists, whose services are covered by insurance. This keeps the old men from bothering the old women (the ones that don’t want to be bothered, that is). Also, there is probably some monetary kick-backs to someone in management for letting the hookers work the clients, er, residents.
Yep..... we do firewood too. We have several lifetimes supply of firewood. And we love cutting and splitting. (25 ton countyline splitter). But honestly..... I don’t like even a week on a cruise ship. :)
***I can’t stand being in a noisy hotel at night...***
You sleep in cabins -no TV’s (as I remember) with good security, amenities.
The only thing to be scared about would be ocean surges/storms!!!!!
Initially, you arrive at the host nation which allows you into the port. If this is not a U.S. territory and you desire to return to the U.S. asap, you would see whether any flights are available. If no other options, notify the U.S. Embassy stat.
I suggest that living on a boat has great potential. Cruise ship NO....privately owned living aboard is actually very nice if you are self-sufficient and handy. From a money point it is cheaper (if you do it right.) I have experienced living on a boat and it was fantastic,I would have done it full time but was not in the position to do it...Seek out a small cabin cruiser and try it out...then go from there. It is a nice lifestyle.
I love Tim Roth & this looks really interesting.
Dittos here also.
“Besides I would think you would have to be a multi-millionaire to afford it in the first place.”
You should price assisted living for the elderly. Even if the elderly person does not require much assistance, the room and meals can run three to five thousand per month. Companies with multiple levels, from little or no assistance to constant care can get very pricy.
My elderly parents stayed with my oldest sister saving about eight to ten thousand a month. As a result they were able to leave us kids a substantial sum. Typically, if they were in a facility their money would have been taken in pay by an actuarial table that would have left us kids nothing. (The Greatest Generation, which is mostly dead now, worked at a time I’d call America’s Golden Age of the blue collar worker. A careful, frugal blue collar worker could retire a millionaire. Those times are gone.)
There are numerous problems. A friend’s mother developed Alzheimer’s and she got valent. So, after a substantial investment, the home kicked her out and they had to put her in a lesser facility that essentially kept her strapped into a wheelchair for her safety and that of others. There’s also the possibility of abusive staff or staff stealing or substituting drugs.
It ain’t pretty, getting old. If you work out the money angle, it’s cheaper and far better to spend your declining years on a cruise line. (Assuming there are any cruise lines left after Covid. They are scrapping ships with decades of life left because of the cost of maintaining them.) The problem with cruise line living is that when the person needs substantial medical help they can be hundreds of miles away from it.
I’ve heard you buy your room starting at 2MM, plus 100k+ per year per person for meals. Saw the World cruise by a few years back.
And what happens when the cruise line goes bankrupt (I guarantee they won’t tell you beforehand) and the lawyers and bankers kick you off the ship in some Third World hellhole because that happened to be the closest place to dock?
Another scheme I’ve heard about is nursing homes bringing sex workers to ‘manage’ the more randy men, with the workers posing as therapists, whose services are covered by insurance. This keeps the old men from bothering the old women (the ones that don’t want to be bothered, that is). Also, there is probably some monetary kick-backs to someone in management for letting the hookers work the clients, er, residents.
————
Sounds like a German thing.
And whadayaknow...
https://www.glamour.com/story/german-sex-workers-funded-elderly-disabled
-PJ
If your in your super senior years living on a cruise ship when you see the end closely at hand make certain you have a massive dose of digitalis handy. Medical help on a ship is minimal.
We have a 40 ft sailboat....and just me? Yeah, I could live aboard easily. I love the marina, the water, and my neighbors. Marina people are a different breed...but apparently I fit right in. lol I spend as much time as I can aboard my boat, even just at the dock, sometimes 2 weeks at a time. I’d be perfectly happy there.
Last cruise ship I was on they paid me but I worked 12 on 12 off and had to share a room with 60 other people. Food sucked and no alcohol.
I’ll pass!!
Fine Print: Casino costs and tips not included.
Same thing with people who got Disney gigs. Didn't really hear too much good about it.
I just stayed local and did the dance gigs. Not too much good about that either. Sometimes we got free food, and sometimes I could find a few Crown Royal bags to keep my mouthpieces and stuff in.
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