Carnival and the economic downturn

[Monkeythyme]

While I agree for the long range, those of us within a year of retirement, do not have the comfort of waiting years for the markets to rebound. What we lost is gone, and we don't have the luxury of waiting out the market. What this economy has done is caused us to reconsider our retirement date. Oh well, as long as I keep working I can continue to cruise.

I had the good fortune to watch the big plunge on TV in the purser's lounge. Even when you're watching your retirement fund go south without you it goes down easier on a cruise.

----------[unpaid] Bill;)

[calicruise74]

It actually stopped trading on the post annoucement Monday. It opened at 1 penny.

 

Imagine buying 1 MM shares @ a cent and selling at $7.00.

 

Yes indeed IF...

 

I also disagree withe the $93k demographic.

Did the OP make up that #?

 

 

Trading was suspended, you're right...when trading resumed it was .65.

[Georgiagolfer]

I had the good fortune to watch the big plunge on TV in the purser's lounge. Even when you're watching your retirement fund go south without you it goes down easier on a cruise.

----------[unpaid] Bill;)

 

Can't argue with that statement. Oh well, just work another year or 2, and try to rebuild some of those funds.

[EJ'S MOM-MOM]

Amen to that! I feared even opening my quarterly report when it came two weeks ago. I immediately wished I hadn't once I did.:mad:

 

In regards to the "profile", I wish I pulled 93K a year! Thats not gonna happen anytime soon working for the government. Oh well, its steady work, and good bennies.

 

Hey Grady,

What kind of government job do you have if you don't mind me asking ? I was a caseworker & then a supv. before I retired for the Penna. Dept. of Welfare.. My sister & friend who are traveling with me were also caseworkers, they also are retired now. And yes the bennies are great...:)

[VentureMan_2000]

We almost took a cruise in September...

 

but we were thinking, what you were thinking, when you were thinking wrong... :D

[kaylahszoo]

But why retire? Because you are 62...or 65? I don't plan on retiring. If working for another 5, 10, 15 years earns you enough monry to do the things you love to do. Why quit working. I love to work. At age 62..or 65- I just can't imagine not going to work. I love the people, the routine, the everyday experiences. To retire, to sit home, not for me. I would rather make the extra money to do the things I like to do...like cruise. Who ever made up the 'magical number' 65 . Oh. I am retired. To do what? Go to the grocery store with the wife. Sorry. Not for me.

[Crusin6]

Not sure what you're getting at, but I know the struggles of raising a big family. My ex-hubby left our family after 16 yrs. of marriage when our 4 daughters were young. I've completely supported the girls as a single mom for over 22 years now. I nearly lost the home and the car was repo'd. I worked 3 jobs while I went to college fulltime for 4 1/2 yrs. to get my degree. I still work 2 jobs. I put all the girls through Christian school, braces on their teeth, and so far paid for 3 weddings. That's how I learned to live frugally. ;)

 

Yes, I'm still single and the girls are on their own now. I do own a very small home. I just try spend money wisely and be sure that there is always some saved. I'm finally in the position to have a little leisure time and vacations recharge my batteries. :D

 

Not sure that I agree that living frugally isn't realistic for many folks - frankly, lots of people who bought homes and other "stuff" that they couldn't afford and have now lost them, are probably wishing that they had lived more within their means. It really hurts to lose possessions that you've gotten used to (I know), but there is a freedom that feels so good when you're not burdened with tons of debt.

I was trying to let the poster know that some people are actually in the middle of living their lives and that it takes money and sometimes credit to do that. The impression that I got from the poster was that they did not have the normal expenses of living and thought that the use of credit was a thing to be ashamed of. Paying for tuition and making sure that your family has an annual vacation are not exactly luxuries when trying to do the best for your family. I felt the poster was saying that those things should be cut out unless you had the cash on hand. So if you don't have enough cash on hand to pay college tuition, a child should not go to college? Between scholarships, grants and yes, sometimes loans, the child gets educated. We pay 4 tuitions, never overspend at Christmas, we buy our cars and refuse to "keep up with the Joneses", cut out nonsense (No we don't need DVR) but if my girls NEED something that will help them , like those braces, I will gladly let the orthodontist charge my credit card. To put it off or not do it is ridiculous. That is an example of what I was saying. There is no way that I could find the extra money for the braces, it can't happen so I won't even try so the credit card will be charged.

My impression was that the poster is living in a dream world and would suggest that "THe kids don't need their teeth fixed unless you have the cash". I might be wrong but that is how I read it.

 

Regarding the buying of homes that they couldn't afford makes my point exactly. Why buy a home you can't afford? That is stupid and the banks were stupid to lend them the money knowing that. No one deserves a home they can't afford. Owning a home and paying the debt that comes along with it is a privledge that should be cherished and not a right that has come to be expected. If you have debt, you must be prepared to pay it.

BTw, it wouldn't say you lived frugally, I would say that you lived right and did the right things for your daughters!:)

[Crusin6]

We have 401K and 529 college savings funds tanking right now. The 401K we can wait out. The 529 is taking a hit and we need it now. My daughter is in college, and it's infuriating that all of the money we've been putting into that for the past few years has evaporated. Ugh. I have stopped opening the statements. I put them on a shelf and forget about it. Our next cruise is in June, to celebrate my older daughter's graduation from nursing school. We've only paid $1000 toward the almost-$7K total of this cruise. But I'm going forward with it. The 4 of us are throwing bills into a bucket as often as possible, and I've got automatic withdrawals going into a special account each week. Hope that does it, or at least puts a big dent in it! lol....I'm also checking airfares obsessively, trying to get something decent from Newark to Tampa.

We too have taken a hit. The 401 not the 529 as we don't have 529's.I never did like them. We also throw those bills in the jar and we too have loads of tuitions. But those family memory making moments are all well worth it. Celebrating the milestones are equally as important as saving the pennies I would say!;);););)

However, next vacation will not be a cruise. We are cashing in all those Visa Disney Dream Rewards for free lodging for our family for 8 nights! Not bad.

[birdie16]

I think it is fair to say that most of the posters on this board are die hard cruisers...so, we are more likely to keep cruising, regardless of our situations. We plan on taking advantage of the lower prices and maybe even cruise MORE.

 

We are doing a better than the profile, but you never know...either one of us could get a "pink slip" any day. We have been more conservative these days with our extra purchases and Christmas will not be as "big" this year, just in case...but cruising is not where we are cutting back. If it wasn't for some health problems this past couple of years we would have cruised more, and I plan on being healthy in the coming year!

[scrappinannie]

About the only thing I have in common with this statement is that I work. Even combined, DH & I don't bring home that kind of money. That being said, we're young (in our 30s) and have relatively minor debt. We're very fortunate to have had investments in real estate that have paid us well in the last several years, so while we certainly have had our own little financial downturns in the past, we have been able to pay off most of our debt, pay a lot down on our house, and of course, take vacations!! Though we haven't cruised in many years (our next cruise is in 2010), we have been to Disney twice, gone to Hawaii, gone to Texas, and taken many long weekends to places within driving distance of our home. We're not rich, but we do okay and we have time to ride out this current financial mess. So we'll still spend our money on vacations, maybe just not as much or take one big trip instead of 2 smaller trips. I mean, without vacay, I get very grumpy!!!!

[Sangela]

Hmm, kinda eerie how close we fit that demographic...:eek:

I will be 46 this month and hubby is 46 and we're a bit over that median income wise, but not by a whole lot more, so close enough.

 

Anyway, just got back from a cruise on Thursday and we are definitely booking another one within the 45 day period. :D

 

We live well, but definitely not extravagantly, no kids, we rent, have no CC debt and a fairly healthy "rainy day" fund put away just in case, so we are able to take 2 cruises a year.

 

I am worried about this economy, but I saw this coming a long time ago and made sure we could ride this wave by living within our means, instead of drowning in it.

 

The main thing is if we are healthy and working we CAN cruise twice a year, especially if cruise prices fall, we are in a position to take advantage of lower prices, and maybe cruise more....:)

[jpmaximus]

I usually like to cruise twice a year but i couldnt this fall mainly because of the airfare being to high. I am hoping to take a cruise next spring if i can find a good deal.

[UpstateCruizer]

If you live beyond your means, then things probably feel pretty tight right now. But many people manage their finances well and don't spend more than they earn. Some of us are able to save quite a bit of our money by living frugally. Then we can get a break from work and relax on a nice cruise! I'm not planning to change anything - I take 2 vacations per year. And I don't make anything close to the salary you listed as the average for cruisers.

 

As far as retirement accounts, you only lose money if you sell when prices are lower than when you bought them. For those who don't have to cash them in today in order to retire right now, we can just "stay the course" and the market will come back up. Actually, this is a great time to pick up some investments at bargain prices - remember, "buy low, sell high." :D

 

 

You have described my dh and I perfectly! This is eaxctly our situation as well. We are 42 & 44 and able to budget and live within our means even during this "crisis" that has so many people in a panic. If more people had the "Don't spend it if you don't have it mindset" there wouldn't be so many people struggling to pay off their mounting debts.

[xntric1]

We fit pretty close to the 'average' -- just a bit over in age and income.

 

We are lucky that a large portion of our retirement is very secure. Also we have those ever-fluid 401Ks to fill in (hopefully).

 

We are cruising more this year and next year than ever before. It is a combination of issues that give us that options. Past years have seen a lot of illness and military deployments, also children are now grown and on their on. We also have more vacation time available. We live in a home whose value is less than our combined annual income, but we are happy with it. Our disposable income has gone up: instead of buying 'things', we enjoy spending it on travel. We are lucky to live within driving distance to a pretty large number of ports. With prices of cruises falling, our travel dollar goes further.

[neatokimmo]

I don't fit those numbers at all, I'm 34 and make a little over 1/3 of their number. But I am debt free except for a small heloc loan so that allows me cruise often.

 

My 401K has tanked, along with my regular stock account. But I don't live on that money so I'll just wait it out.

 

If they start to really bottom out the prices on cruises then I'll cruise MORE and buy less every day junk.

[MDSue]

Right now I can only reasonably afford one cruise a year and I still plan on going. I work hard all year and need a week to relax and have fun. If everyone decided to forego a cruise this year, then the cruiselines would be really hurting.

Fortunately we are not facing financial difficulties as we tend to live frugally and did not get caught up in the credit crisis. I just hope that all the money being spent by our government for this huge bailout is not going to cause them to squeeze the last dollar out of us to pay it back. I plan on spending it first.

We did choose a less expensive cruise this year though and may take fewer excursions while onboard.

[ladycaveat]

While I agree for the long range, those of us within a year of retirement, do not have the comfort of waiting years for the markets to rebound. What we lost is gone, and we don't have the luxury of waiting out the market. What this economy has done is caused us to reconsider our retirement date. Oh well, as long as I keep working I can continue to cruise.

 

Mike, I'm right there with you. I'll be sixty-two in January and planned to retire in another year or two. However, my Smith Barney account has taken quite a hit and I have a feeling that as long as my health holds out (knock on wood . . . I'm healthy) . . . I'm gonna be forced to work until I'm at least sixty-seven. I just hope things turn around within the next year or two. Tammy

[mariemorgan]

Do you fit the profile of the Carnival Cruiser in tightening your belt?

 

Length and Depth of Economic Downturn

The average cruise ship passenger is passenger is 46 years old and makes $93,000 per year.

 

Oh do I wish I matched that profile and made that much.. that would mean way more cruises for me!

[deborahjo]

We are booked on one cruise next year and one for 2010. Husband lost his job due to down sizing end of August. We worked for the same company. I continued to work for the company for a month. October 1st we made the move from Colorado to South Dakota. Husband took a pay cut but likes new job better. I just started working 2 weeks ago. Our salary went from approx. 82,000 a year combined to about 71,000 plus his commissions.

 

I am 51 and DH is 44.

We will continue to cruise at least once a year. If we can afford 2 we will.

[lovesublime]

We did a cruise this summer and are cruising again in a couple of weeks. We're planning another for May of next year. We pay up front for our trips and don't carry debt on them.

 

I don't think we fit those demographics. We're a little younger and DH alone makes well over that 'demographic' salary. I work part time on and off-our family is not reliant on my income at all. I guess we're very fortunate.

 

The biggest financial outlay we've ever made (excluding homes) was paying out of pocket, I mean every single dime, of our son's college tuition which was over $100,000-over a four year period. He graduated last year so it's like we have gotten a huge pay increase. Now, some of that money was from a college fund we had set up, but most of it we paid out of pocket. We did it because we didn't want him to struggle for years with student loans like we did. Also, we believe that if parents can afford it, then they should pay for their children's college. It was the single best thing we ever did with our money. Paying for cruises is the second best :)

[DebraSt]

Good for you Cathyoo. How very touching your story is. God bless you,your son, and your family. Keep on cruising,dear you deserve it!!!!!

[bleuiz]

Hubby and I aren't in the demographics but when we were in our 40's, we probably were..........we have tried to cruise once a year (as teachers, our vacation time is limited as to when we can go) so we try to leave out of NY, particularly due to airfare.........

We have gone to Canada 3x, this summer to the Eastern Carribean.....I would like to stay with Carnival, but unless they have more cruises out of NY, we might have to change cruiselines.........

[Royaltmom]

We fit the profile.(at least we did). We have always lived below our means. We have 2 of our 3 kids in college. Our youngest just turned 12 and is autistic.

My husband was down sized yesterday. No work coming in.

I run my own catering business and found out today that I have lost my biggest $$ account.

So.....even though we have money put away, this is not how we envisioned spending it. So, who knows how long it will be before we book our next cruise.

Wow! I just reread this....it sounds really bad:o...but it's not;) We are blessed that we have always been savers, and I know that we will be ok.

[ladycaveat]

Dam* it to hel* . . . what in the heck happend? Why has our country . . . as well as all the countries in the civilized world . . . gone to hel* in a handbag? I'm totally naive (sp) as to how, when, what and why we are in this ressession or depression. All of us are losing retirement funds right and left and I just don't understand how the "big wigs" of these companies are walking away with millions of dollars when the majority of us are losing our life savings. I'm sorry . . . didn't mean to vent but this is so darn frustrating. I'm a single female that is pinching pennies to take my cruise in January and Heaven only knows if I'll be able to take another cruise any time soon. :(

[futaba951]

Dam* it to hel* . . . what in the heck happend? Why has our country . . . as well as all the countries in the civilized world . . . gone to hel* in a handbag? I'm totally naive (sp) as to how, when, what and why we are in this ressession or depression. All of us are losing retirement funds right and left and I just don't understand how the "big wigs" of these companies are walking away with millions of dollars when the majority of us are losing our life savings. I'm sorry . . . didn't mean to vent but this is so darn frustrating. I'm a single female that is pinching pennies to take my cruise in January and Heaven only knows if I'll be able to take another cruise any time soon. :(

 

WOW!! Now that is a rant of the highest order. I love that. :D Whenever I send ranting e-mails to the company we contract with, they get cleaned up and edited before they finally get posted on the gov't website we all use. By the time they get posted, I hardly recognize them as mine. It had never really occurred to me that someone in the gov't might take offense to being called nuckin futs. :)