The Costs of Retiring at Sea

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Research has revealed that it would be possible to spend your entire retirement on a continuous world cruise, and for only £140 more per month than it would cost to retire “on land.”

High retirement costs mean that for just £4,439 more a year, bungalows would be swapped for the Queen Mary, bingo halls for the Captain’s table and dreary never-ending rain would be replaced by tropical sunshine.

The research was conducted to find out the overall costs of a normal retirement on land, to see how this would compare to spending your full retirement on a continuous cruise. This offers a varied perspective of what is available in 2017 for retirees, which probably wouldn’t have been possible in time gone by.

Retirement CruiseResearch by Bolsover Cruise Club calculated the expected cost of “normal” retirement, including several common luxuries – running a car, two-week holiday abroad, gym membership, dining out and monthly entertainment. The average cost of these luxuries was added to standard living costs, including food and accommodation payments, to give an average annual total of £30,000.

Based on the UK average wage of £26,500, a career starting at age 22, and taking in the state pension value, in theory you would have been required to save an average of £711 per month to afford the cost of a “normal” retirement.

Using the information found, Bolsover decided to come up with a 12-month itinerary of what would be available on a continuous cruise and the costs involved in this. In comparison, the retirement cruise itinerary costs £34,439, which would require the same person to save £850 per month – an increase of just £139 per month.

Retirees could expect to tour New Zealand’s breath-taking, spend more than three weeks a year visiting the picturesque beaches of the Caribbean, and explore South East Asia’s unique heritage and culture on an annual basis. These exotic locations would all be visited while aboard some the world’s finest cruise ships, boasting amenities such as 24/7 entertainment, gyms, spas and fine dining.

Other annual highlights of retiring at sea include; traveling to five continents, celebrating New Year in the Canaries, Sailing the French Rivers through the Atlantic coast, and spending winter in the best Christmas markets Europe has to offer. When you compare this to what a standard retirement would have to offer and the costs involved, it makes you wonder whether you are really getting the most out of your money in your golden years.

Melissa Thompson writes about a wide range of topics, revealing interesting things we didn’t know before. She is a freelance USA Today producer, and a Technorati contributor.