A retired couple from Australia recently made headlines because of their unique retirement living situation. Instead of opting for a condo in a 55-and-over community, a room in a senior living community, or any other traditional option, they have chosen to spend their retirement at sea -- or at least, more than two years of it.
Marty and Jess Ansen booked 51 back-to-back Princess Cruises, all on the same ship, starting in June 2022. The cruises add up to 795 days at sea, which translates to just under two years and two months. When asked why they chose to do this, the Ansens cited the ease of life and the affordability of cruising compared to living in a nursing home.
Is living on a cruise ship truly cheaper than investing for the future and planning to live in a retirement community or nursing home? Let's take a closer look.
Cruise lines are embracing the life-at-sea retirement
While booking back-to-back cruises for an extended period of time like the Ansens did is certainly an option, several cruise lines have started offering longer cruises to accommodate people who would rather spend their golden years at sea.
For example, the longest cruise ever offered by Royal Caribbean is about to set sail in December. The Ultimate World Cruise will take passengers to ports on all seven continents over a 274-night journey, and it includes airfare to and from the ship, the deluxe beverage package for the duration, seven shore excursions, complimentary laundry service, and internet service to keep in touch with loved ones. And like all cruises, meals and daily housekeeping are included as well. Cruise fares start at $58,499 and $74,654 per person for ocean view and balcony staterooms, respectively.
There are more economical options as well. A company called Life at Sea Cruises offers a three-year voyage that visits 375 ports in 135 countries with rooms starting at $29,999 per year, per person.
How much does a retirement home cost?
The costs of retirement living varies considerably by the type of living situation, as well as the geographic location.
For starters, the median cost of a room in an assisted living facility is $4,774 per month ($57,288 per year) in the United States. But in some states, the cost can easily exceed $80,000.
Additionally, assisted living assumes a reasonable level of independence. For those who might need closer medical attention, a private room in a nursing home costs a little over $9,000 per month on average, and can exceed $15,000 per month in areas with high costs of living.
Is living on a cruise ship really cheaper?
The short answer is "it depends." As you can see from just the two examples discussed earlier, cruise prices can vary considerably, and that's especially true if you're booking many shorter back-to-back cruises. There are big differences in cost between cruise lines, types of staterooms, and other services, and it's certainly possible to spend quite a bit of money on board as anyone who has cruised can tell you. Plus, there are big differences in the costs of retirement homes, depending on the level of assisted living needed, geographic location, and other factors. Run the numbers for your area and see if they make sense for you.
In many cases, it is entirely possible for budget-conscious retirees to save money by living at sea.
Caveats to keep in mind
The bottom line is that in some cases, spending an extended amount of time on a cruise ship can be more cost effective -- as well as more enjoyable -- than a nursing home or retirement community. But it isn't for everyone.
For one thing, spending an extended period of time on a cruise ship is likely only practical if you're in reasonably good health. Typically, by the time you need a full-service nursing home, you're not healthy enough to travel for months (or years) at a time -- plus the cost of medical care can be astronomically high on a cruise ship or in foreign ports in the event of an emergency.
Having said that, cruising for long periods of time has emerged as a viable alternative to traditional retirement living for many people who have enough in savings to make it happen.
FAQs
“A cruise ship retirement has the potential to be more affordable than a standard retirement if you were comparing it to living in a retirement home or assisted living community,” says Tricia Tetreault, a financial analyst for Fit Small Business.
How much does it cost for a senior citizen to live on a cruise ship? ›
Is it expensive to retire on a cruise ship? The cost of living onboard a cruise ship varies depending on the type of cabin you choose and the amenities you desire. Generally, retirees can expect to pay anywhere from $1,500 - $3,000 per month for accommodation, meals, entertainment, and other activities.
Is it really cheaper to live on a cruise ship? ›
In total, it costs the Burks $32,485 a year for their transportation costs, lodging and food, according to the figures they provided CNN in April 2022. Depending on where you live and how much your mortgage is, this figure could be significantly cheaper than what you're paying for a brick-and-mortar living space.
How much would it cost per month to live on a cruise ship? ›
"Those who have an inside cabin will be paying about $2,400 a month per person," said Valerie Linderoth, a Victoria Cruises Brand Ambassador. "It's actually pretty affordable." While the price of $2,400 a month may not sound affordable at first, there are other factors to consider.
Can a senior citizen live on a cruise ship? ›
But some retirees are turning their retirement years into a literal permanent vacation. So-called “serial cruisers” live part or all of the year on a cruise ship. To some retirees, this might sound like a dream come true, but there are some factors you may want to consider before choosing this senior living option.
Are cruise ships cheaper than retirement homes? ›
“A cruise ship retirement has the potential to be more affordable than a standard retirement if you were comparing it to living in a retirement home or assisted living community,” says Tricia Tetreault, a financial analyst for Fit Small Business.
How much does it cost to be a permanent resident on a cruise ship? ›
Living permanently on a cruise ship can cost between $30,000 to $100,000 per year, depending on the cruise line, cabin type, and included amenities.
Do you pay taxes if you live on a cruise ship? ›
As a U.S. citizen or permanent resident, you incur U.S. income taxes on “worldwide income,” whether you are making money while working from a ship or in another country. Taxes get more complicated if you disembark and work in a different country. Casino prizes won on board are also subject to federal income tax.
Does anyone live full time on a cruise ship? ›
While there are some Residents who choose to live on the Ship year-round, the majority spend three to four months on board – joining the Ship wherever and whenever they choose.
Can you permanently buy a room on a cruise ship? ›
If you've ever watched The Suite Life of Zack and Cody spin-off – The Suite Life on Deck – you may be familiar with living on a cruise ship. You might wonder how true it is and whether you can live on a cruise ship. The truth is, yes, you can totally live on a cruise ship.
Holland America Line
Renowned for its classic cruising experience, Holland America caters especially to senior travelers who appreciate a touch of tradition and comfort. The ships in their fleet, while modern in amenities, exude a classic charm that harks back to the golden age of sea travel.
Should an 80 year old go on a cruise? ›
In fact, a cruise is the perfect family vacation for seniors to partake in, because not only is the transportation part of the adventure, but there are plenty of activities for seniors to enjoy with the family as a group, or on their own should some family members choose to partake in other activities.
How much do cruise ship apartments cost? ›
Cabins run the gamut from 130 square feet “Virtual Inside” staterooms – which start at $29,999 per person per year, coming out at $179,994 for the three-year trip for two people – to Balcony Suites, which are double the size and go up to $109,999 per person. The cheapest outdoor cabin costs $36,999 per person.
How can I retire and live on a cruise ship? ›
Some cruise lines offer cabins for sale, allowing you to own your place at sea. Other ships accommodate extended trips, such as 180 days or more. You also need to decide what to do about your current housing situation. You might rent your home while you set sail or divide your time between cruising and living on land.
What age is senior citizen on cruises? ›
Many of the major cruise lines including Royal Caribbean, Carnival Cruise Lines and Norweigan Cruise Lines offer Senior Citizen Rates for guests age 55 or older. Senior Cruise Discounts are typically available on last minute cruises when cruise lines need help filling the last remaining cabins on their ships.
Can you live on a cruise ship for 30k a year? ›
You can live on this cruise ship for $30,000/year—less than the average cost of rent in NYC. The MV Gemini boasts 400 cabins and room for up to 1,074 passengers. If you're thinking about moving into a new home or just looking for a change of scenery, you might want to consider this cruise around the world.
