For many people, homeownership remains a cornerstone of the American dream. But with skyrocketing housing prices, this dream can feel increasingly out of reach. Angelyn and Richard Burk, a couple in their 50s, faced this dilemma head-on and opted for a more unconventional solution – trading their Seattle home for a life cruising the oceans.
Soaring Housing Costs Prompt a Daring Move
The Burks’ decision wasn’t made lightly. Fueling their desire for a more mobile lifestyle was the ever-increasing cost of housing. The average US home price had reached a staggering $417,700 by late 2023, making homeownership a significant financial burden for many. For Angelyn and Richard, this reality spurred them to explore alternative living arrangements.
Embracing the Open Seas: A Life Afloat
May 2021 marked a turning point for the Burks as they embarked on their unique adventure. Instead of a traditional retirement on land, they opted for the open seas, choosing to live on cruise ships. This decision, according to their research, offered a more budget-friendly option compared to the hefty costs associated with a mortgage.
Finding Freedom and Savings on Cruise Ships
Angelyn, a former accountant, explained their motivation to Australia’s 7News a year into their seafaring adventure. “We love to travel,” she shared, “and we were searching for a way to continuously travel in our retirement that made financial sense.” Living on cruise ships, they discovered, allowed them to indulge in their passion for travel while keeping costs manageable. They estimated their daily expenses to be as low as $62 Australian dollars (approximately $40 USD).
A World of Exploration Awaits
The Burks haven’t limited themselves to a single vessel. They’ve charted a course across the globe, hopping on and off various cruise ships. Their travels have taken them to exciting destinations like Singapore, Italy, Canada, and the Bahamas. A 51-day odyssey from Seattle to Sydney stands out as a particularly memorable journey.
Living Frugally, Traveling Freely
Living on cruise ships wasn’t purely motivated by financial considerations. The Burks also embraced a frugal lifestyle, allowing them to stretch their retirement savings further. By taking advantage of loyalty programs and cruise line promotions, they were able to comfortably retire early, leaving behind the constraints of traditional nine-to-five jobs. As Angelyn remarked, “We don’t plan to return to living on dry land or doing nine-to-fives again.”
Financial Savvy at Sea
Angelyn, in an interview with CNN in April 2022, shed light on their daily expenses. She revealed that the average cost per day amounted to $89 USD, encompassing their room, food, entertainment, transportation, tips, port fees, and taxes. This figure, when compared to the ever-rising cost of housing – the average Seattle home value at the time of writing being $879,412 – proved significantly more manageable for the Burks. Loyalty programs further enhanced the affordability of their chosen lifestyle, allowing them to maximize their travel experiences. “This is well within our retirement budget,” Angelyn concluded, demonstrating the financial astuteness behind their unconventional living arrangement.
The Burks’ story serves as an inspiration for those seeking alternative paths to retirement and a life filled with travel. Their adventurous spirit and financial savvy have opened doors to a world of exploration and experiences, proving that sometimes, the most fulfilling journeys are found at sea. ░