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Despite the allure of life at sea, there are critical financial considerations to account for. Charlie Branch, a financial adviser based in New York, notes that since the start of the pandemic, many clients are exploring non-traditional approaches to retirement. The pandemic prompted individuals to reassess their priorities and lifelong dreams, leading to an uptick in interest for unconventional living arrangements like cruise ships.
It's important to evaluate your living expenses while at sea compared to traditional land-based retirement. Some may find that moving onto a cruise ship can be more cost-effective than previous on-land living arrangements, but this greatly varies based on individual circumstances.