We’re Spending Our 60s on a Cruise Ship: Here’s How Much We’re Saving on Taxes Alone
Helen and Norman D’Silva are saying goodbye to life on land and becoming full-time cruisers on Storylines’ MV Narrative ship, a first-of-its-kind residential community at sea. The long-time couple has taken over 200 cruises together, so spending their golden years aboard a luxury cruise ship seemed like the perfect opportunity.
“We never decided to retire on a cruise ship, but we always envisioned traveling the globe and having a global lifestyle,” Norman told GOBankingRates. “The Storylines concept just so happened to fit our vision of our lifestyle.”
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The D’Silvas are looking forward to this new travel adventure when the cruise sets sail in 2027.
“We have been cruising for over 30 years, and the one thing that we never liked about cruises was not enough time in port,” Norman said. “Storylines’ itinerary will allow us to really enjoy ports, meet the people and enable us to enjoy our philanthropic endeavors while enjoying ourselves.”
But it’s not just the travel lifestyle that makes a cruise ship residence appealing. See how much money this couple plans to save by spending their 60s and beyond at sea.
Saving on Living Costs
Residences aboard the ship range from $1 million to $8 million for the lifetime of the vessel, with fractional ownership options also available. But that price includes way more than housing. The ship is all-inclusive, which means dining, cultural enrichment programming, and access to state-of-the-art wellness and fitness facilities are all part of the package.
“The cost of living on the ship will be lower for us than our existing monthly expenses,” Norman said. “We are looking forward to living in a community lifestyle, with neighbors and people with common interests.”
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Saving on Taxes
In addition to saving on living costs, the D’Silvas will save a six-figure sum on taxes.
“Being a U.S. citizen and living outside of the U.S. will give us a huge tax break — tax savings of $120,000 per person adjusted for inflation,” Norman said.
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This article originally appeared on GOBankingRates.com: We’re Spending Our 60s on a Cruise Ship: Here’s How Much We’re Saving on Taxes Alone
