My wife and I just got back from our first cruise. We took a 5-day cruise from Charleston, S.C. to the Bahamas. A significant percentage of the 2,200 guests on the cruise were retired. A cruise generally offers many benefits to retirees at a compelling value. Here are six reasons to consider spending a significant portion of your retirement years on the water.
Socialization. For all the folks on a cruise, there is a large amount of socialization and camaraderie with your fellow guests and the cruise staff. You’ll also associate with a bit more of a diverse age group on a cruise ship than you would at a retirement community.
Travel. While a retirement community may have some local outings, the primary advantage of a cruise ship is retirees get to travel to nearly anywhere in the world they want to go.
Entertainment. A cruise has a well-planned itinerary and hosts many events on the ship to entertain the guests. Every day is planned out and may include excursions, bingo tournaments, stage shows, comedians, and a number of other fun activities.
Food. You don’t have to shop or prepare meals while on board. There are a wide range of dining options on the ship to enjoy.
Service. The service on a cruise ship is very accommodating. Retirees could benefit from the extra attention that the cruise staff is willing to make to ensure they are enjoying their trip.
The price. Our cruise cost us roughly $76 a day per person for the cruise ticket, port fees, taxes, and an automatic gratuity. You may want to add in an additional $10 to $15 per day for miscellaneous expenses. That cost is significantly less than some full-service retirement communities, which can easily cost more than $100 per day. Extreme cruisers might be able to live on board for less than $30,000 per year. This could be a compelling retirement alternative for some retirees who do not need significant assistance and love to travel.
Brian Jaeger is the author of 2million's Personal Finance Blog. For the past 5 years Brian has chronicled his journey to reach his financial freedom goal of a $2 million net worth.