How do people afford $20,000 suites?

[vswan]

5 minutes ago, njsmom said:

I have certain categories in my head of what something is worth, no matter what it is - a nightgown, a belt, a purse, and I cannot spend over that. One of my good friends says she has the same mental calculator that goes on in her head. There is a certain value to items - shirts, blouses, pants, etc. - and she can't spend past what she feels that category is worth. 

I used to figure out how much something cost per wear. If I spent $50 on a top and wore it once it was a $50 top, wore it twice it was $25, etc. When I figured things that way I bought way less than most. Found that I only really needed one pair of good black pants at a time, etc. Of course my circumstances were different than most, I had a home-based office and didn't need to dress up except for meetings. One or two professional outfits per season was all I needed. And then there were the times that I just really liked something and was willing to spend the money as long as it was within reason.

[gkbiiii]

9 hours ago, Tapi said:

It’s all relative. One of my friends just paid $10K for a 3 night cruise on the Disney Wish. And that is just one of 3-4 vacations he’s taking with his family this year. 🤷🏻‍♂️

 

For him, it’s chump change. 

Disney Financially Speaking: When I worked for Disney in Florida, 12 years ago, we estimated a week vacation at the parks was $10,000+ for the land cost.  The cruise line was a relative bargain.  There are many people who on the DIS blogs mention; eating rice & beans (for months) to save for these trips.

 

Now in 2023, the pricing of their WDW onsite basic motel accommodations, are upwards of $800 a night, so most likely $20,000+ for the seven day week.  The top suites on Disney, easily would top $20,000++ for a week.  The sky is truly the limit, for those in this type of cult mentality. Disney is a religion to many, one that bleeds them $$$$$+, every chance they get.

[ldubs]

On 4/1/2023 at 2:38 PM, LoungerOnBalcony55 said:

Just for the record, everyone posting in this thread is rich. 

 

On 4/1/2023 at 2:45 PM, poocher said:

Hardly

 

On 4/1/2023 at 2:53 PM, Ret MP said:

Yep, rich with great friends, family, and a little disposable income.  

 

On 4/1/2023 at 2:58 PM, Georgia_Peaches said:

Ditto!  I swore I wasn’t going to get into this but here goes… from a philosophical standpoint….We are not wealthy but we are rich. Is there a difference?  Wealthy is lots of money where as rich is blessed with the means to live life to the fullest while being humble enough to recognize that there’s a difference. I’m happy to be rich and accept that I will probably never be wealthy! 

 

Clearly a state of mind.  May everyone live a rich and full life!  

[Tapi]

1 hour ago, njsmom said:

And some people make a lot more than I do. 

You got that right. Start this thread at one of the luxury cruise line message boards, and you’ll get some truly eye opening and humbling answers.
 

On Royal Caribbean and other mass market lines, the suite people are the top 5%. On the luxury lines, the suite people are everybody; 100%. 

[ldubs]

1 hour ago, njsmom said:

Our financial advisor says we should plan on spending the most in the first 2-3 years of retirement, whatever age we retire. He said he sees it over and over. People have bucket lists of things they want to do, and they do them all in those first 2-3 years, and then they just relax and stop spending as much, whether due to health or lack of interest. It's a good rule of thumb for retirement savings. 

 

He also says he's never seen an 80-year-old with an entirely new wardrobe of clothes. 

 

I would say COVID changed our spending patterns for a couple of years, but otherwise spending has been pretty steady.  What your advisor says about clothes is true.  I'm only 71 an my need to buy new clothes has significantly reduced since retirement.   

[ldubs]

43 minutes ago, vswan said:

I used to figure out how much something cost per wear. If I spent $50 on a top and wore it once it was a $50 top, wore it twice it was $25, etc. When I figured things that way I bought way less than most. Found that I only really needed one pair of good black pants at a time, etc. Of course my circumstances were different than most, I had a home-based office and didn't need to dress up except for meetings. One or two professional outfits per season was all I needed. And then there were the times that I just really liked something and was willing to spend the money as long as it was within reason.

 

Holy cow, I've got a closet full of $0.001 T-shirts!!!

[d9704011]

2 minutes ago, ldubs said:

 

Holy cow, I've got a closet full of $0.001 T-shirts!!!

I bet you're underestimating the value of some of those shirts... probably, there are a number of collecter/memorabilia items in there!

[vswan]

3 minutes ago, d9704011 said:

I bet you're underestimating the value of some of those shirts... probably, there are a number of collecter/memorabilia items in there!

You know it's bad when items from your wardrobe come back in style and you've been wearing them all along.

[ldubs]

4 minutes ago, d9704011 said:

I bet you're underestimating the value of some of those shirts... probably, there are a number of collecter/memorabilia items in there!

 

Correct, my Clippers #24 World B Free T-shirt is priceless!   I only wear it on cruise ships. There is always one or two old dudes who comment.   Lol 

Edited April 2, 2023 by ldubs

[ldubs]

1 minute ago, vswan said:

You know it's bad when items from your wardrobe come back in style and you've been wearing them all along.

 

I keep telling Mrs Ldubs shag carpets will be back in style some day!  

[poocher]

44 minutes ago, gkbiiii said:

Disney Financially Speaking: When I worked for Disney in Florida, 12 years ago, we estimated a week vacation at the parks was $10,000+ for the land cost.  The cruise line was a relative bargain.  There are many people who on the DIS blogs mention; eating rice & beans (for months) to save for these trips.

 

Now in 2023, the pricing of their WDW onsite basic motel accommodations, are upwards of $800 a night, so most likely $20,000+ for the seven day week.  The top suites on Disney, easily would top $20,000++ for a week.  The sky is truly the limit, for those in this type of cult mentality. Disney is a religion to many, one that bleeds them $$$$$+, every chance they get.

My daughter and I did a week at WDW every year from 2007 to 2015.  Never stayed higher than a moderate, usually Pop Century, always during the Free Dining promotion (and that was at least twice the cost benefit of the room discount I gave up for it), 7 day park hopper passes.  With airfare, I don’t think we ever spent over $1500 total for that week.  People throw out high end numbers that are not even remotely close to what a vacation might cost.

Edited April 2, 2023 by poocher

[gkbiiii]

9 minutes ago, poocher said:

My daughter and I did a week at WDW every year from 2007 to 2015.  Never stayed higher than a moderate, usually Pop Century, always during the Free Dining promotion (and that was at least twice the cost benefit of the room discount I gave up for it), 7 day park hopper passes.  With airfare, I don’t think we ever spent over $1500 total for that week.  People throw out high end numbers that are not even remotely close to what a vacation might cost.

You are one of the few, as the management used $10,000 as the target price.  $800 a night, for value properties, is the new norm.

[RD64]

2 hours ago, Mum2Mercury said:

Obviously I don't know about the other poster's carpet situation, but I'll throw this out: 

 

My husband and I have saved diligently over the years, and we have some pretty decent savings put away -- but we also retired young (I'm 56).  Thing is, much of our retirement savings is tied up in accounts we're too young to access!  We live in a paid-for house, have one paid-for car between us, and my pension provides us with cash flow and we have some money in passbook savings ... but we're not really rolling in money that can immediately be spent right now.  So we're a bit cash poor for the next couple years.  

 

Just sayin' how it's possible to be rich but not have money that's immediately available to you.  

The high school from which I retired DOES require such a course ... and the kids don't get much out of it.  It doesn't seem real to them in 10th grade, which is the age most of them take the class.  Things they say /believe: 

- All this talk about getting into debt.  Who'd be that stupid?  

- I don't like to do math, so I'm ignoring that compound interest thing.  It can't be that important.  

- I'm never going to live in an apartment.  That's throwing money away ... I'll buy a house right away, but for sure I'm moving out of my parents' house as soon as I finish school.  

- I'm going to be a Singer /Rapper /Athlete (or, the new big one, Influencer), and I'm going to make enough money that I won't need to learn all this.  

- I know I can make it as a singer.  My grandmother says I have the best voice she's ever heard.  

- I want to go far from home for college ... I don't care if out of state costs more.  

- I'm for sure going to get a football scholarship and won't need to pay for college.  

- I'm for sure going into the military, and I won't need to pay for college (the military is turning people away these days, but they won't hear me when I tell them that).  

- Or the opposite:  No one with my skin color can make it anyway, so why should I bother?  (That one makes me sad.)

 

I wish I were making these up.  Too many of our students don't understand the need for money management until they're already in trouble.  

Interesting thoughts.  We've been retired about a year, and we haven't been spending big -- but I think this is an odd time to retire.  We were in pandemic shut-down for our last couple years of work, and that's an odd lead-in to retirement.  It's like we got used to doing nothing, and now we're having something of a bumpy transition into retirement.  We haven't been at this long enough to really have the hang of it yet.  

 

Yeah, about 3-4 years before I retired I said to myself, "I will never again buy another article of clothing that I can't see myself using in retirement."  That is, I quit buying work dresses, etc., as I knew I had enough to "see me through" those last couple years.  I dumped a bunch of stuff when I retired, and now I have a small closet of casual things, and I don't need /desire a whole bunch more.

Another high school teacher here - you left YouTuber, Rapper, Social Influencer, and Professional Soccer Player off your list of careers.

[poocher]

I can get a room at Pop Century for under $250 a night.  Where are you getting $800???

Edited April 3, 2023 by poocher

[RD64]

25 minutes ago, poocher said:

My daughter and I did a week at WDW every year from 2007 to 2015.  Never stayed higher than a moderate, usually Pop Century, always during the Free Dining promotion (and that was at least twice the cost benefit of the room discount I gave up for it), 7 day park hopper passes.  With airfare, I don’t think we ever spent over $1500 total for that week.  People throw out high end numbers that are not even remotely close to what a vacation might cost.

I disagree - vacation numbers are a wild card. Without throwing out the actual $$$ value as you will surely disagree…

 

In February I booked a room at the Schipol Sheraton for a truly (what I think) exhorbitant amount. (April stay). However, given all the Schipol issues, I am paying for the convenience of walking to the terminal from the hotel. Just for kicks, I checked prices yesterday - and the price has more than doubled for the same hotel, same night.

 

 

[cruiselvr04]

2 hours ago, njsmom said:

Our financial advisor says we should plan on spending the most in the first 2-3 years of retirement, whatever age we retire. He said he sees it over and over. People have bucket lists of things they want to do, and they do them all in those first 2-3 years, and then they just relax and stop spending as much, whether due to health or lack of interest. It's a good rule of thumb for retirement savings. 

 

He also says he's never seen an 80-year-old with an entirely new wardrobe of clothes. 

I think your financial planner is right.  We’ve had the same discussions.  We know our spending will decrease as we age, it just makes sense.  My mom lived on nothing her last few years except for insurance, food and utilities.  
 

[poocher]

Heck, with the current discount, I can get the Grand Floridian for under $800 🤷‍♀️

[RD64]

43 minutes ago, poocher said:

Heck, with the current discount, I can get the Grand Floridian for under $800 🤷‍♀️

Plus tax! 

[vswan]

18 minutes ago, RD64 said:

Plus tax! 

And don't forget resort fees. Seems all hotels have those now.

[A&L_Ont]

2 hours ago, d9704011 said:

I bet you're underestimating the value of some of those shirts... probably, there are a number of collecter/memorabilia items in there!

Considering my T-shirt are Marks Work, I have an even better starting point. 😀

[#55worktoplay]

On 3/30/2023 at 10:19 PM, Georgia_Peaches said:

Where does one find such casino discounts on  on said high-end suites?  Enquiring minds…

They spent 20k on their previous cruise 😀😀😀

[Ret MP]

I've got a bunch of old T-Shirts in the back of my closet that I'd be willing to let go for $10.00 each, unseen, of course.  LOL

[PolicromaSol]

I've often wondered the same thing. Yeah, there's some rich folks out there, but I always figured that if you hit a certain money point, you were doing things other than cruising. (Or if you were, you were going on one of the "rich" cruiselines that have smaller, fancier boats where everybody gets a butler.)

 

Anyway, don't worry about what everyone else is doing. Spend on the kind of room you're willing to spend on, and don't worry about being the frugal person. There's a lot of variety if you know where to look. Research the boat you want to go on, see what kinds of rooms are available. You can often find a good surprise. 

 

I don't even go for balconies most of the time. I try to look for the bigger oceanview rooms. The last one was nice because it had portholes with a view of the bow and you could see where you were going, and there was a kid-sized bunkbed area for the kid to have all to himself. (I think Icon is adding a lot of these types of rooms, IIRC...)

 

  

On 3/30/2023 at 11:49 PM, Mikamarii said:

Every year I had to convince my parents, I don't want your inheritance I'd rather you come on this trip with us...and they did. That was better than any cash they could ever leave behind. I dont need nor want their money. 

 

Now here's one I don't get... How is it all of you have old folks that aren't afraid of boats? I'd love to take my mom or mother-in-law on one of these things... The issue is getting one of them on one!

Edited April 3, 2023 by PolicromaSol

[rimmit]

1 hour ago, cruiselvr04 said:

I think your financial planner is right.  We’ve had the same discussions.  We know our spending will decrease as we age, it just makes sense.  My mom lived on nothing her last few years except for insurance, food and utilities.  
 

My parents retired in 2015.  Up until the pandemic they were increasing spending year over year on some very exotic vacations.  Covid hit and they bought an RV.l with all the extra money from the cancelled vacations.  Didn't like the RV and sold it and bought an airstream instead.  Really went all out in 2022 on a couple vacations and now seems like 8 years later are slowing down a little mainly doing multi month trips in the Airstream, rather than exotic vacations.  Still have some bigger trips on the way, but to be honest they are running out of places they want to see as they have seen A LOT and enjoy the camper life.

 

But all the financial planners factor in decreasing expenditures as you get older just due to declining health and lack of interest as you run out your bucket list. 

[grandgeezer]

2 hours ago, rimmit said:

My parents retired in 2015.  Up until the pandemic they were increasing spending year over year on some very exotic vacations.  Covid hit and they bought an RV.l with all the extra money from the cancelled vacations.  Didn't like the RV and sold it and bought an airstream instead.  Really went all out in 2022 on a couple vacations and now seems like 8 years later are slowing down a little mainly doing multi month trips in the Airstream, rather than exotic vacations.  Still have some bigger trips on the way, but to be honest they are running out of places they want to see as they have seen A LOT and enjoy the camper life.

 

But all the financial planners factor in decreasing expenditures as you get older just due to declining health and lack of interest as you run out your bucket list. 

We retired in 2001, I was 55 and my wife was 50. We started out being a little conservative, although we had a lot of money saved, my pension was about 20% of what I made. After a couple of years we realized that money wouldn’t be an issue so we started spending it like water. We found cruising and averaged about 42 days a year at sea. New car every three years, many home improvements, basically we had everything we wanted and did everything we wanted and the money kept growing thanks to the stock market. 
Fast forward to now. Cruising is history, current product, is average at best, and not worth it at any price. Even with the downturn in the stock market, the portfolio is worth 2 1/2 times it was in 2001.

With the mandatory withdrawal from my 401k, our 2022 gross was well into six figures, life is good for us and will be even better for our son, his wife, and our only grandson. The grandson starts college in the fall and with the AZ529 Savings Plan we funded for him, he should graduate in four years with zero debt. Best money ever spent.