Did you know that you could actually spend your retirement living on a cruise ship? Some people do this very thing, but for most of us, this is a little bit drastic — not to mention expensive. There’s a happy medium in which you can still spend your retirement going on cruises while maintaining your home base. It can be helpful to learn a little more about trips set on cruise ships and whether this might appeal to you.
Why Cruise?
There are a lot of reasons to spend your time after retirement in this way. If you’ve always had wanderlust, this can be a safe way to see large swathes of the world. Going on cruises is not just about glamour either. There are expedition cruises to places like the Galapagos Islands and Antarctica. If you’re retired, it can be hard to meet new people, but this can help ensure that you are always in the company of new and interesting individuals of many different ages and backgrounds. You can also indulge your interests. Some trips focus on pop culture or politics, literature, history and much more.
Your Retirement Finances
Cruising doesn’t have to break the bank, but you do need some money to cover it. If you’re looking at your retirement savings and aren’t sure you have enough, you might want to think about some creative ways to supplement that fund. Could you rent out your house to tourists when you are away? Do you have anything that you could sell? A lifetime of accumulating possessions could mean that you have some high-quality items that you no longer need and could get a good price for. Another possibility is to sell your term life insurance policy. You might assume that this type of policy has no value, but instead of letting the policy lapse, you might be able to sell it through a life settlement, which means a third party pays you for it. You’ll receive less than the death benefit, but you can still get a good amount to supplement your retirement.
Costs
Once you have a financial strategy in mind, it’s time to look at costs and what you can afford. Cruising is definitely not just for wealthy people, and there are several forums and groups online you can join to find out more about how to get great deals. You can even consider using a credit card with travel perks on your everyday purchases to bank up points to use along the way. One important thing to keep in mind is considering whether it is more economical to go with something all-inclusive. Be sure to account for gratuities while on the ship, as well as any costs related to going ashore.
Mix and Match
One complaint people sometimes have about cruises is that they spend too little time in the cities where ships dock, sometimes just a few hours. However, your trip does not have to originate and end in the same place. You can use the ship as a form of transportation and recreation in and of itself, and when it finally docks, you can spend a few days, weeks or even months in that city. This combination is a great way to balance independent and more structured travel.