You Should Retire on a Cruise Ship

Five years ago, I met Mira Calton and her husband, Dr. Jayson Calton, authors of books on nutrition, who owned a floating home on The World, a 644-foot yacht that continuously circumnavigates the globe.

The couple owned one of the 165 privately-owned residences, which ranged in price from the mid-six-figures to several million dollars each.

“It’s the only place in the world where you wake up and your backyard is someplace different—Shanghai, China, Papua, New Guinea, or someplace else,” said Jayson, a nutritional doctor. “It never gets boring.”

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In 2011, Virtuoso client Judy Hanzel took a cruise vacation and, once the cruise was over, she decided to live on the Crystal Serenity ship. Her arrangements cost $450,000 per year. Another traveler, Mario Salcedo, has lived on a Royal Caribbean cruise ship for more than 20 years, and he budgets around $60-$70,000 for his travels and accommodations.

Most average folks believe that living fulltime on a yacht or a cruise ship was something only the rich could enjoy and that some of these budgets might make this lifestyle far out of reach. Not the case.

While the Caltons and Hanzel lived on the luxurious side of yachting and cruising, the dream of living on a cruise ship fulltime isn’t an impossible dream for those who aren't necessarily wealthy.

“Long-term and nursing home care can cost upwards of $5,000 to $10,000 per month,” said Rhonda Day, Dream Vacations Franchise Owner and Vacation Specialist with Vacation Days Travel in Louisville, Kentucky. “You could definitely budget a cruise for that range. Cruises include food, entertainment, onboard medical care, laundry facilities, a gym, constant companionship and much more. With the cost of living on land—taxes, mortgages, etc.—it may actually be more cost effective to live on a cruise ship.”

Stacey Hartmann, owner of Enjoy Vacationing in Waunakee, Wisconsin, said that it’s not only possible to live on a cruise ship, it’s her husband’s dream. She also has clients who cruise every year for one to three months at a time rather than buying a second home to leave Wisconsin in the winter.

“There are many challenges to long stays on ships that you need to think about,” said Hartmann. “Some of them include getting your mail and packages. What do you do in ports you’ve already visited, or do you enjoy the ship while everyone else is in port? And knowing the important things that you need while you're at sea: What’s your budget, and are you a luxury traveler?”

For those truly thinking about year-round cruise ship living, Hartmann suggests starting with a few back-to-back cruises to understand the experience.

Vanessa McGovern, CEO & Co-Founder of the Gifted Travel Network in Moorseville, North Carolina, once worked onboard cruise ships and explains that living on one means that you’ll never be alone.

“The crew would get to know them and take great care of them. The galley would likely know their eating styles and cater accordingly, and you would have a housekeeper the entire time.”

If you think this is a lifestyle for you, consider these 12 financial things to think about before taking the plunge: “Your health insurance may not cover cruise ship medical care. Check with your carrier, but you might need to purchase travel insurance, which is an additional expense,” writes Dave Hughes, contributor to U.S. News and World Report.

Anchors away!