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

Many Canadians don't do much formal life planning, except perhaps when it comes to their wedding ceremony. Do you fall into things, reacting as situations and circumstances change? This hit-or-miss approach is the way many Canadians buy real estate, but can you afford to have the success of your future rest on 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 is no longer a handful of quiet years. Now it's a decades long, active, involved Third Life -- a never-before-experienced time that this writer likes to call "unretirement."

With decades involved, anticipation is power. To create strategies for the long haul, you may have to face a few 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 thinking ahead would have saved them a lot of grief.

Most people dream about escaping work, but they don't dream big enough -- or long enough. Too many Canadians, contemplating their future, confuse retirement planning with vacation planning -- the only experience they have had with lifestyle design. Typical retirement plans cover the first five years or so, but neglect the 20 to 40 year time frame involved.

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 new third life may include the need for a variety of different homes and housing types or one very flexible home 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. 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. Start your housing search by learning as much as you can about the range of choices. Investigate housing styles, ownership models and locations that you are otherwise unfamiliar with 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 find individuals struggling to adjust to an imposed early retirement that came in the guise of a family compromise.

A significant difference in age between spouses may not be noticeable to them until retirement becomes an issue. If the older spouse hits 65 and decides to take a traditional path which means leaving the workplace behind, the younger partner may not be as ready to drop out and switch lifestyles.

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 is 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. 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 house, 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.

• 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 10 acres or more are entitled to construct a 750-square-foot guest house before building the main structure.

• 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.

• Deliberately set out to invest in real estate that will increase in value fairly quickly and further bankroll your retirement 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.

Traditionally, living outside Canada and away from winter's icy blast has been high on most retirement lists. As the world continues to become more hostile -- physically and financially -- wintering in Canada may be the only practical alternative. How would that affect your plans?