You've never retired before, so how can you plan for something you've never experienced?

Many people don't do much formal life planning, except perhaps when it comes to weddings or vacations. Do you "fall" into things, reacting as situations and circumstances change? This hit-or-miss approach is the way many individuals and couples buy real estate, choose a career and start relationships, but can they afford to have the success of their future rest on "falling" into good luck?

Since few people want to settle for the type of retirement their parents and grandparents have or had, there aren't established patterns to copy. Retirement was a handful of quiet years out of the mainstream. Now, everythings been redefined and life stretches ahead as decades-long, active, involved extended living—a never-before-experienced time that this writer calls "unretirement" because it’s everything retirement never was and should have been.

Since decades of time are involved, anticipation is power. To create strategies for the long haul, you may have to face fears about aging and clarify your definition of life-long independence. Here are a few situations that people often "fall into," realizing in hindsight that forward thinking would have saved them a lot of grief.

Most people dream about escaping work, but they don't dream big enough—or far enough into the future. Too many individuals and couples, contemplating their future, confuse retirement planning with vacation planning—the only experience they have had with lifestyle design and changing the future. Typical retirement plans cover the first five years or so, but neglect the 20 to 40 year time frame involved in today’s extended lifestyles.

In this context, it's not surprising that thinking long-term about a new home is just as difficult. To accommodate the 30, 40 or more years ahead, your extended living may include the need for a variety of different homes and housing types or one very flexible housing design that enables you to adapt to changing needs and interests without moving. When considering a new house or condominium, try to imagine yourself living there under a range of circumstances, good and bad. What future event or situation might force you into a move?

Since people can only consider what they know, make sure you understand all the options open to you, even those that do not immediately appeal to you. Start your housing search by learning as much as you can about the range of choices. Investigate architectural styles, ownership models and locations that you are otherwise unfamiliar with and may not currently find attractive, and you'll find it easier to think in terms of decades as you contemplate your future.

Choose Transition Over Compromise
Explore any naturally-occurring or purpose-built retirement community and you'll discover some individuals struggling to adjust to an imposed early retirement from the mainstream that came in the guise of a family compromise.

A significant difference in age between spouses may not be noticeable to them unless traditional retirement planning becomes an issue. If the older spouse hits age 65 and decides to choose a classic retirement path, which means leaving the workplace and the world behind, the other partner may not be as ready to drop out and switch to an "on holiday" lifestyle.

Compromises that require one spouse to give up a preferred way of life or a loved location may strain the relationship and put pressure on the individual even if the change seems willingly adopted. To avoid complications after relocation, start replacing the career or driving interest beforehand. Finding suitable real estate may be less challenging than finding a new focus for your life.

If you and your partner are not completely in sync about the future, consider a transitional housing solution to balance the differences in your interests:

• Today, "retirement" from corporate life frequently means starting your own business or taking on a community-development project. More and more housing developments offer work-life units for those who want the joy of not having to go to the office and the pleasure (or necessity) of income-generating activities.
• Instead of one large "way beyond our needs" home, consider buying a smaller house or condominium in the location one spouse loves and another affordable home where the other spouse thrives. Alternatively, one country unit and one urban spot, or a Canadian home and another in more exotic climes may suit your needs. Why can’t you accommodate both in a creative way?
• If building a new home is at the top of your housing wish list, phased construction with roughed in features may be the answer. In British Columbia, those who buy acreage are entitled to construct a small guest house before investing in the main structure. That way you’re sure about the location and its related lifestyle options before complete commitment.
• Joint ownership of one or more of your transitional properties may also be feasible if you have family, friends or acquaintances who also want to live in more than one place. This approach liberates capital and extends your real estate reach.
• Deliberately set out to invest in real estate that will increase in value relatively quickly and further bankroll your unretirement dreams. Sometimes the first houses or units that are sold in a new development increase in value before the subdivision or condominium is fully sold out. Vacant land, especially view properties and waterfront, may be an excellent investment, but do your homework. The economic downturn has created buyers’ markets, but local professional knowledge is still the vital ingredient for success.

Traditionally, living outside Canada and away from winter's icy blast has been high on "retirement" lists. As the world continues to become more hostile—physically and financially—wintering in Canada may be the only feasible alternative. How would that affect your plans for those extended-living decades? Imagine what else could rewrite your future and work on positive flexible solutions that incorporate "bounce back" resilience whatever the future holds.

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