Imagine living on a cruise ship being more affordable than maintaining a mortgage. If that isn’t a clear reflection of the economic state in 2024, then what is?
It’s well known that the housing market has seen significant price increases and there’s no immediate sign of relief. This has led people to seek creative solutions—some opting for unconventional accommodations, while others choose the surprising option of life on a cruise ship.
Seattle residents Angelyn and Richard Burk decided to abandon their traditional home and travel the world on cruise ships starting in May 2021. They claim that their choice has been more financially beneficial than paying a mortgage on a land-based property.
Angelyn, previously an accountant, shared with Australia’s 7News: “We love to travel, and we were searching for a way to continuously travel in our retirement that made financial sense.”
Both in their 50s, Angelyn and Richard discovered they could continue their passion for travel indefinitely, spending as little as $62 AUD ($40 USD) daily.
Over the years, they have embarked on numerous cruises worldwide, including a 51-day voyage from Seattle to Sydney. Their favorite destinations include Singapore, Italy, Canada, and the Bahamas.
“Our original plan was to stay in different countries for a month at a time and eventually retire to cruise ships as we got older,” Angelyn elaborated. “We love to travel and we were searching for a way to continuously travel in our retirement that made financial sense.”
Living a modest lifestyle, combined with loyalty program benefits and promotional deals, allowed them to retire earlier than planned.
The couple has no intention of returning to a traditional lifestyle any time soon.
In an interview with CNN in April 2022, Angelyn mentioned they spent an average of $89 USD per day. This figure covers accommodations, meals, entertainment, transportation, gratuities, port fees, and taxes.
At the time of writing, Zillow estimates the average home value in Seattle to be $848,982, reflecting a 3.1 percent increase over the past year.
Angelyn noted that their lifestyle choice fits comfortably within their retirement budget, giving them extra funds to enjoy.
Ready to set sail?