Retiring on a cruise ship? More Americans are making it a reality
A surge in retirements is sweeping America as baby boomers enter their golden years. More than 4 million people are poised to turn 65 this year, part of the largest wave of retirement -age Americans in history.
For some, retirement looks different than traditional options. Instead of settling into condos or retirement communities, they're choosing a life at sea.
"I live at sea and I'm retired," says Jo Johnston, who said she has been on "six or eight cruises of 80 days or longer."
For Johnston, a cruise ship is her home.
"I sold everything that wouldn't fit in my car. And then I sold the car," she said.
On board, Johnston gets everything bundled into one package: meals, travel, entertainment and housing, all for approximately $100,000 a year.
"It's important to really track what you're spending in some way," Johnston advises. "I can tell you last year how much I spent per day on drinks or on short excursions on average."
Johnston recently traveled aboard Holland America's "Grand World Voyage" cruise from Florida to Grand Cayman. Her 124-day itinerary included Bali, Cape Town and Barcelona.
Lunchtime was spent with friends she's met sailing over the years. None knew each other before cruising.
"They're so welcoming and they look after you," she said about the friends.
The loyal following is one reason why Holland America has launched two of these cruises simultaneously for the first time.
According to the travel site Cruise Critic, more companies are adding longer-haul trips — voyages lasting three to six months. At least a dozen world cruises are being offered this year alone.
A residential cruise launched last fall, where customers can buy a cabin starting at $130,000.
Charlie Branch, a New York-based financial advisor, says retiring at sea could potentially cost less than retiring on land, "depending on how you were living when you were on land."
Branch said there's a trend of clients becoming more creative about retirement since the pandemic.
"It's given them some perspective in terms of what they want their lives to look like from this point on," he said. "Some are going and doing things that they've always wanted to do and never had a chance to. We're definitely seeing an uptick in that."
As for Johnston, she has cruises booked for the next two years with no plans to stop.
"I've come to appreciate politics around the world, how people everywhere are more alike than they are not, and just how beautiful the world is," she said.
While retirement at sea may sound appealing, a significant factor to consider is health care. Ships typically have a doctor on board who handles basic needs and emergencies, but experts recommend consulting with your primary physician to determine if it's a viable option. As with any retirement plan, proper preparation is essential to ensure you have appropriate medication and care.
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