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CYAI: Disney Cruise for the family!

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  • CYAI: Disney Cruise for the family!

    This edition of CYAI features a doctor who hopes to splurge on a Disney cruise to Alaska next summer. Should be a slam dunk, right? Well, we are analyzing a military physician who is unsure of whether she’ll be able to stick it out long enough to qualify for retirement and health benefits, so the story has an interesting sidebar analysis.

    Whether you’re considering a military career or wondering about whether a high-ticket vacation is logical for a relatively low-income physician, I hope this week’s story will have some helpful thoughts for you and your little princes and princesses.

    If you’d like to get an assessment of your high-ticket dream, just click here and fill out the short form. As @fatlittlepig has said, the writing ain’t the best. But I doubt you can beat the price for a professional opinion ?!

    As always, I get nothing in return for these analyses (other than some free press, I suppose) and I’ll continue to provide them as long as I continue to enjoy doing so!
    Financial planning, investment management and CPA services for physicians, dentists, and medical professionals | 270-247-6087

  • #2
    I usually say no, this is a clear yes.

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    • #3
      Absolutely they can. Just make sure the 2 year old is out of diapers first.

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      • #4
        Have fun!  Interesting they chose Alaska with two year old.  Also if there is only a two year old, there are cheaper cruises if they want to save some money.  Disney knows how to keep kids happy though.

         

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        • #5
          Yes !

          She is in a solid financial state especially compared to the age. And, those retirement benefits? No one can beat that.

           

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          • #6
            I didn't click on the link (migraines and whatnot), but the AK Disney cruise is one of the best trips we ever took.  Worked out to about $1000/day all-in for veranda cabin (strongly recommended)/activities/travel/pre-post hotel/etc, but worth every penny.  Wouldn't go until kid is at least 5 or 6 as part of what you are paying for is the memories.

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            • #7
              ?!
              Yes, and I would additionally recommend a big trip like that every 2-3 years. There is no better way to enjoy spending $20k, IMO. If you come up short on your early retirement, work an extra year or two.

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              • #8
                Didn't read but nurses and techs here take these kind of trips so yes not a problem.

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                • #9
                  Financially - Slam dunk yes.

                  Kid 2 years old -  Caution.  All cruise lines require potty trained for activities.

                  Like Tim said, <5 yo, best to simply go on a regular cruise for 1/3 the cost and still have a great Alaskan time.  Outside cabin is a must for Alaska.  Half of the fun is watching it go by on the inside passage in the comforts of own room when just kicking back --- we still prefer the lounges for this, but outside cabin really adds to the experience of Alaska more than a Caribbean or Med cruise.

                  IMHO, at this age, we would pick a nice product like Princess or RCI to that does kids programs well and throughout the night too and allow the parents to kick back and relax.   Don't need Disney until 6+.

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                  • #10
                    I would say No.

                    This doctor probably lives in a dream.

                    Do not give me wrong, we just came back from Alaska cruise a month ago.  Definitely worth it .

                    However, Disney cruise is $8K+/person not included shore excursions.

                    How can 5 persons only cost 20K?  They should budget for $35-40K.

                    They save 35% of $291K incomes (about $100K/yr) and expect to retire in 10 years?

                    Based on the calculation, their investment returns have to grow 15%/year to get 2.4M in 10 years.

                    Instead, they should expect the returns of 6% and then they can retire in 15 years on 100K/year (4% withdraws).

                    That 40K trip will set them back and they have to work 6 more months for retirement, will it worth?

                    Not to me.

                    Save more and wait for a few years before spending on this big ticket item that 2 year old can't enjoy.

                     

                     

                     

                     

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                    • #11
                      Yes go for it.  The 3 year old might not remember (I say 3 because they are planning on this for next summer) but the 6 and 9 year old will.  I feel like 6-9 is peak Disney enjoyment years.  They can always go on another Disney cruise in 5 years with the youngest if they enjoy it.

                      Only thing I would say is see if there is a military hardship cancellation clause when they book--i.e. If mom gets ordered to deploy can they cancel or reschedule without penalty.

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                      • #12




                        I would say No.

                        This doctor probably lives in a dream.

                        Do not give me wrong, we just came back from Alaska cruise a month ago.  Definitely worth it .

                        However, Disney cruise is $8K+/person not included shore excursions.

                        How can for 5 persons only costs 20K?  They should budget for $35-40K.

                        They save 35% of $291K incomes (about $100K/yr) and expect to retired in 10 years?

                        Based on the calculation, their investment returns have to grow 15%/year to get 2.4M in 10 years.

                        Instead, they should expect the returns of 6% and then they can retired in 15 years on 100K/year (4% withdraws).

                        That 40K trip will set them back and they have to work 6 more months for retirement, would it worth?

                        Not to me.

                        Save more and wait for a few years before spend on this big ticket items that 2 year old can’t enjoy.

                         

                         

                         

                         
                        Click to expand...


                        I think their retirement calculations are dependent on the pension.  If she retires from the military in 10 years a sig portion of their expenses will be covered by the 75k+/yr in pension.  That completely changes SWR calculations.  If she doesn't think she is going to make it to military retirement that changes things but she admitted she won't be retiring in 10 years if she doesn't stay in.

                        I'm not a cruise person (the free cruises I got from the military were enough for me) nor a Disney person so don't know what the going rate is...but perhaps they are getting a military discount?

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                        • #13


                          I think their retirement calculations are dependent on the pension.  If she retires from the military in 10 years a sig portion of their expenses will be covered by the 75k+/yr in pension.  That completely changes SWR calculations.  If she doesn’t think she is going to make it to military retirement that changes things but she admitted she won’t be retiring in 10 years if she doesn’t stay in. I’m not a cruise person (the free cruises I got from the military were enough for me) nor a Disney person so don’t know what the going rate is…but perhaps they are getting a military discount?
                          Click to expand...


                          Sorry, I missed the final part, I would say Yes, she can afford the trip.

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                          • #14
                            @infinity not sure where you are getting your $8k/person figure. We are going on a Disney Alaska Cruise next month and our reservation for a family of 5 in a verandah room was just a hair over $16k total. Granted this doesn’t include shore excursions, but those have only totaled just over $3k for a whale watch tour, a nature hike with bear viewing, and a boat ride up some fjord with another nature hike. So nowhere near your suggested $35-40k budgeted amount.

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                            • #15
                              Admittedly didn't read the specifics.....having other little ones that age... absolutely Disney cruise worth it.

                              We cruise a lot. Disney is a completely different experience. It is essentially going to the park and staying onsite and should be priced accordingly.

                              When we went on Disney there was 1000 kids on the ship. It felt like 100 most of the day and times until the last day on stage when they brought all of them out for the celebration.

                              The kids are exhausted by the time you get them back at night.

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