Jul 18, 2025
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The contract enables her to make the cruise ship her permanent address for the next 15 years, an arrangement that Lane says is a better deal for her. Prior to this, she was renting a home in the Laguna Woods retirement village.
“Not only was it affordable to me, it would actually cost me less money to live here like this, have everyone taking care of me instead of me taking care of everybody," she said to NBCLA.
Her unconventional move highlights how the cost-of-living crisis in some states has spiraled out of control and why more retirees should consider moving to save money.
Cheaper than California
Unlike a typical cruise, the Villa Vie Odyssey is a residential cruise ship. That means customers don’t book short trips but purchase a cabin on the ship, which has an estimated lifetime of 15 years, according to CNN.
Lane used her life savings to purchase an inside, windowless cabin, for which prices start at $129,000. She also has to pay $3,000 in monthly fees. This includes food, soft drinks, alcohol at dinner, Wi-Fi, and medical visits. Entertainment, room service, weekly housekeeping, and bi-weekly laundry are also provided at no additional charge.
“All the chores you do in life? Done!” Lane told NBCLA. “If you put your to-do list on a piece of paper and you cross off anything that wasn’t a fun activity, then you end up with the life we have now.”
Not only is this convenient, but it may be cheaper than living in the Golden State.
The average rent for a one bedroom apartment in Laguna Woods, where Lane was formerly living, is $2,325, according to Zumper.The average rent for a studio apartment in the state is $1,856, according to Apartments.com.
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This means it’s possible Lane’s monthly expenses would have been higher than her cruise cabin if she decided to live in an apartment in California.
However, it’s important to note that as she gets older she may need more assistance with daily tasks and medical care. It’s unclear if such perpetual cruises will be able to provide for the needs of such retirees. Lane may also find it difficult to participate in excursions as she gets older.
CNN says those who purchase long-term cabins on Odyssey do have the option to sell. In such a situation, Lane would need to get a good price and consider senior housing. The median monthly cost of assisted living in California is $5,561, according to A Place for Mom.
Altogether, Lane’s decision to set sail on a perpetual cruise may seem financially savvy, but complications could arise.
For those who get easily sea-sick or are otherwise nervous about spending years on a ship, there are other ways to save costs in retirement.
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Should you consider a move too?
Relocating could be the best way to save costs in retirement, but you don’t need to book a cabin on a never-ending cruise.
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Instead, moving to a new state with relatively lower costs of living could be a more conventional approach to retirement.
States like Missouri, Wyoming, Tennessee and Arizona can offer lower taxes, cheaper real estate and affordable living costs, according to the Institute of Financial Wellness.
A Place for Mom says median independent living costs can be as low as approximately $2,250 per month depending on the state. It’s $3,500 a month in California.
You could also consider moving to another country to unlock a more comfortable retirement.
According to the International Living’s Global Retirement Index for 2025, Panama, Spain and Malaysia are some of the top options for American retirees seeking a cheaper lifestyle.
Whether you swap zip codes, cross international borders, or opt for a floating home on a cruise ship, changing your address in retirement can help cut expenses and upgrade your quality of life.
But don’t overlook the emotional side — being near family and friends often matters just as much as money. If your social circle is a top priority, you could consider aging in place despite the costs.
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Vishesh Raisinghani is a financial journalist covering personal finance, investing and the global economy. He's also the founder of Sharpe Ascension Inc., a content marketing agency focused on investment firms. His work has appeared in Moneywise, Yahoo Finance!, Motley Fool, Seeking Alpha, Mergers & Acquisitions Magazine and Piggybank.
