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While many people would rather retire in the countryside, there are those eyeing cruise ship retirement. This means full-time travel locally and internationally visiting places who have always yearned to visit. Besides, it will offer opportunities for exploring various recreational activities.

But do you have the budget for cruise ship retirement?

Traveling the world can be exciting not only for retirees but for anyone else who has the zeal. However, it can also be expensive; hence, it requires exclusive planning and budgeting. Nonetheless, Tricia Tetreault, a financial analyst, says, “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 the living community.”

While it is not possible to pinpoint the exact cost of cruise ship retirement, an average expenditure can be around $213 per day. However, this could go high or low, depending on the type of airfares. This means applying a creative approach to make the dream of traveling the world a reality.

Staying on course with your cruise ship retirement 

If you are planning to retire on a cruise ship, having an all-inclusive budget may sound enough, but it is not. Read below several other things you may require to put together: –

  • Health insurance coverage: – Medicare insurance packages do not accommodate expenses outside of the US. Hence, you may consider a private health insurance plan during your cruising.
  • Put your different cruise itineraries. An early comparison is important to figure out if they have all your desired facilities, for example, internet connectivity to help you keep in touch with friends and family.
  • What will you with your home possessions? You have the option of selling or renting them for the long-term.

It is strongly recommended that you spend substantial time and research cruise offers, which align with your needs. No cruise ship offers a 365-day living. This only means that you will book back to back cruises.

To enhance your planning engage a financial planner to equip you with the financial do and don’ts when cruising. After all, will you want to find yourself helpless and in a foreign land?