Early retirement - could be expensive

Investing Strategies Retirement Investing
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A couple are planning to live and work off a cruise ship. The vessel starts service in 2025, and the couple have put a down payment for an apartment with a 12-year lease on a cruise ship - $1M
If you dig deeper, there’s maintenance fees of $4800/month (bet that goes up over time)

We’re paying $1 million to live on a cruise ship and sail around the world while we keep managing our property empire (msn.com)

I bet there are lots of other gotchas and additional costs not completely factored in with this big decision. I mean, you are sailing around the world on a big expensive shared houseboat - what could possibly go wrong? (don’t ask Jeff Bezos :rofl: )

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I guess it takes all kinds.

…we decided to buy an apartment with a 12-year lease…

They are “buying” it, yet they have to lease it? That is called rent.

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Works out to roughly $141,000 per year over that 12-year period, assuming no bump in maintenance (which will happen). This is basically all their living and travel expenses, minus what they spend during port calls. While it might be high for living expenses, not so much if you travel as much as they do. I could easily see this being cheaper for them, and less hassle. The really big problem with this is they have locked themselves into this lifestyle for 12-years. How easy to get out? (hint: how easy is it to sell time-shares?)

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I did some more poking around. The cruise line is Storyline. I found an article about their first residential cruise ship.

And that’s just the beginning — as every resident is also charged a “living fee” in the range of $65,000 to $200,000 per unit, annually, to cover their all-inclusive living experience.

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