Each year, millions of Americans hang up their business attire and briefcases for good to fully embrace retirement. And while many use the opportunity to explore new destinations or relocate to a new city — either permanently or as a seasonal snowbird — a select few will be swapping out their residences entirely for a new life at sea.
Cruising has long been a popular mode of travel for seniors: According to the Cruise Lines International Association (CLIA), 50% of the 20.4 million people who took a cruise in 2022 were over the age of 50, while 32% were over 60.
As a result, several companies are beginning to offer residential-style accommodations to attract retirees, digital nomads, and other adventure-seeking travelers of all ages. Storylines is one such company. The residential high-end cruise line prides itself on providing all-inclusive luxury residences and plenty of amenities, including the following:
- Onboard entertainment and hobby areas, such as an art studio, a movie theater, pickleball courts, a library, a bowling alley, and a golf simulator
- Storylines Global Academy, a "world-traveling school" with classes like nature photography and science and engineering
- 20 on-site bars and restaurants
- Fitness and wellness facilities
- Wash-and-fold laundry service
- Three pools
- Pet exercise area
- Unlimited Wi-Fi
- 24-hour room service
- Onboard health assessments and wellness consultations with doctors, trainers, and nutritionists
- Private kitchens
The company's debut vessel, MV Narrative, is slated to sail from Split, Croatia, in 2027 and will circumnavigate the globe every three years. The ship will offer 530 fully furnished residences ranging in size from 237 to 1,970 square feet, costing between $675,000 and $10 million. A limited number of homes will also be available for a timeshare-like purchase, with pricing for 25% ownership starting at $627,900 for the RU2Explore(a balcony residence with two sleeping areas) and RU4 Dream (a one-bedroom unit with a private balcony and spacious lounge area). Additionally, all residential unit types, including the lower-priced internal studios, are available for 50% co-ownership, with prices ranging from $550,000 to $4.4 million. (Rentals are also available, though pricing has not yet been announced.)
While the starting price of an onboard residence is higher than the average home purchase price in the U.S., it does include food, drink, and all of the aforementioned amenities, which can quickly add up depending on the cost of living in a particular city or state. Living fees, meanwhile, are an additional cost and start at around $2,850 per person, per month (which is lower than the national average of $6,440 per month, according to the Consumer Expenditure Survey from the U.S. Bureau of Labor Statistics (BLS). These fees cover most of the aforementioned amenities, as well as most food and drinks from the ship's restaurants and bars,housekeeping and laundry, unlimited fitness classes, gratuities, and ship operational expenses.
Wondering if living on board a cruise ship is the right retirement move for you? Then keep reading. ShermansTravel spoke with Ken Lill, an architect and non-profit founder in New York City, who has already reserved his onboard residence on MV Narrative. After nearly 30 years of living in the same West Village apartment, he's getting ready to retire and enter a new stage of life cruising the globe.
Q. What made you want to retire on board a ship?
A. With retirement fast approaching, I realized I had no real plans for retirement. I happened to read an article online about Storylines that piqued my interest. I did my research, and it quickly became clear that this was for me. I like to travel but hate constantly packing and unpacking and staying in hotels. I enjoy cruising, but I am turned off by the large commercial cruise ships packed with thousands of people.
Two months after reading the initial article, I took the plunge and reserved a unit. This is very out of character for me, but I was certain this would be a good fit.
A retirement home is like an anchor that locks you down to one place. I am certain that I would get bored quickly and have no clue where I would even want a retirement home to be located. With the Storylines concept, I would be everywhere and nowhere without being committed to one place. The constantly changing scenery out of my own living room window will be amazing.
Q. What financial considerations did you make, and what steps did you take to help you make this decision?
A. I looked at the diverse purchasing options available on the ship and decided on the best-size unit that I was financially comfortable with based on my net worth and needs. I then put together a list of all my current monthly and annual expenses, such as power, water, gas, property taxes, home insurance, cable, internet, haircuts, basic medical, food, and drinks, and compared that to the annual fee.Much to my surprise, the annual fee on the ship was much closer to my current fixed costs than I was expecting. This confirmed that I could comfortably afford the unit I was interested in and the annual fee associated with it.
Q. How are you preparing financially?
A. Since I plan to live in my current NYC apartment until I retire in the spring of 2026, I need to make sure I have enough liquid cash when the milestone payments are due. My plan is to live full-time onboard the ship. Maintaining an apartment in NYC is extremely expensive. I have been in my apartment for 28 years, and it will not be easy giving it up as NYC has been the center of my life for so long. However, I realize that retirement brings change, and I am getting mentally prepared for those changes.
Once I retire, I plan to sell my apartment and rent a place in Florida for a year until the ship is ready for boarding. The final payment, which is due just prior to moving onto the ship, will come from the assets from my NYC apartment.
Q. What advice would you give to someone who is debating retiring on board a cruise? Any tips?
A. Make sure you have a thorough understanding of your current financial situation. Research not only the initial cost of moving onto a ship but also the ongoing costs of living there. Do not stretch yourself too thin, as you will still want to do things and have a life off the ship.
Q. Is living on board more affordable than staying put in a retirement home?
A. It is hard to compare the two as they are vastly different. Living on board the ship will be both a retirement home as well as a vacation, so the costs are not directly correlated. I suspect living onboard will be more expensive, but you must remember you are living an adventure, and not in a traditional retirement setting.
Q. What are you most looking forward to regarding living on board?
A. Rebooting my life into retirement. Developing new friendships and social circles while maintaining an active lifestyle. Life for me would be very boring if I were to continue my current work lifestyle into retirement. I need to shake things up and start a new adventure.
Q. Is there anything you're worried about?
A. My biggest — and really only — concern is medical insurance. Medicare will only cover up to 10 days outside the United States and I am still not clear what my supplemental insurance will cover outside the United States. I am concerned if something major happens, how it will be covered. I am going into this adventure as a healthy person and hope to stay that way for as long as possible. Should a major health issue arise, I plan to go back to the United States for treatment if possible.
Other lines offering residences at sea:
- Blue World Voyages, which describes itself as "the only cruise line 100% dedicated to sports and wellness," offers 40 units (a mix of penthouses and one- and two-bedroom units) for sale starting at $2.5 million. Its premiere vessel is slated to debut in 2026.
- Owning a place on Villa Vie Residences’ Villa Vie Odyssey guarantees 15 years of ownership starting at $130,000 (plus monthly fees from $2,000 per person). Seasonal ownerships begin at $25,000, with rentals also available. For a one-time payment of $350,000, you'll get unlimited access to a guaranteed Ocean View villa with no monthly fees. Prospective residents can also experience the ship through the Try Before You Buy (TBYB) program, which offers 7- to 10-day stays before committing. The ship circumnavigates the globe every 3.5 years and visits over 147 countries across all seven continents.
- The World offers 165 residences ranging in size from studios to three bedrooms, all of which are individually owned. Since no new residences are available for purchase directly from the company, the only way to acquire one is through resale from an existing owner (these startat $2.5 million). Timeshares of 50% ownership are also available.
- Dark Island, the luxury residential cruise ship from Clydebuilt that's set to debut by the end of 2025, offers one- to three-bedroom suites and stands out for its onboard helicopter and mini-submarines. Contact the company directly for pricing.
- NJORD, a superyacht from Ocean Residences, offers 117 two- to six-bedroom units starting at $8.5 million. The sleek vessel is equipped with state-of-the-art facilities like a wet and dry lab, submarines, aerial and subsea drones, and onboard equipment designed to help advance marine research.
- Slated to set sail in 2027, Somnio is a $520 million luxury residential yacht available exclusively by invitation. Residences range from 1,959-square-foot two-bedroom apartments to expansive 10,365-square-foot multi-bedroom homes, with prices starting at $20.8 million.
