This article covers the first, and possibly the most fun, step in my 10 Step Layman’s Plan for Retirement Planning. Here we begin to describe our dream retirement. Let’s look at six aspects of retirement life to help us paint this picture.

Location – Where do you want to live?

The first possibility is that you are happy right where you are; Why move? If this is the case, move on to the next aspect. If not, then read on.

CNBC News says these are the top places in the US for Baby Boomers:

• Loveland/Fort Collins, Colo.
• Las Cruces, New Mexico
• Rehoboth Beach, Del.
• Portland, Oregon
• Greenville, South Carolina
• Sarasota, Fla.
• Ann Arbor, MI
• Tucson, Arizona
• Montpelier, Vermont
• Honolulu, Hawaii
• Santa Fe, New Mexico
• Atlanta Georgia
• Charleston, South Carolina
• Northampton, Massachusetts
• San Diego, California

If you are looking for an international location, the Association for the Advancement of Retired Persons recommends:

• Puerto Vallarta, Mexico City
• Languedoc-Roussillon, France
• Boquete, Panama
• Cascais, Portugal
• Marche, Italy

Home – Which home would you prefer?

If you plan to stay in your home in retirement, it’s always a great option. If you prefer to move, let’s consider some options.

A single-family residence provides additional space and privacy. However, there is more maintenance and cost. The care required to keep a large home in good repair can become more difficult in later years. If possible, consider single-story homes, as well as properties that are easily accessible by wheelchairs; you may not need this now, but you may in later years.

Condominiums and townhomes are a great alternative. Less cost, less care, and you can still have great community facilities like pools and hot spas. Just beware of association fees, as they can be considerable and are usually not tax deductible.

Yet another alternative is an apartment. The popularity of apartments varies by region, but they can be a great alternative if you want to live in a desirable area and don’t need a garden patio.

What about retirement communities? They are a great option if you want to be close to other retirees, want to be close to retiree-oriented amenities (doctors, entertainment, etc.), have access to assistance with everyday tasks (shopping, cleaning, etc.), and have fun playing golf, card games and other concerted activities. These communities may offer home, condo, and apartment living options.

Activities – What fun things do you want to do in retirement?

If you play sports, such as biking, golf, tennis, or enjoy going to the gym, and plan to continue doing so in your retirement, chances are you’ll retire healthier and happier in retirement. Many of these activities may cost you a little to participate in, but the health benefits far outweigh the costs.

What about hobbies? Here are some hobbies you might want to pick up again (try two or more!):

• Dancing: it is also good for health
• Painting – can be very relaxing; who cares if you’re not a picasso
• Gardening: maybe grow your own food?
• Model building – cars, boats, planes
• Internet blog – share your thoughts and experiences with the world
• Photography – with the new digital cameras it is much easier and more fun
• Volunteer: How about helping an animal shelter or charity fundraiser?

Another activity that can fit into your plans is to join the many clubs that cater to common interests. Here are some:

• the rotary club
• card game groups
• book clubs
• sports team fans
• form your own

Finally, there is nothing like lying down in a comfortable chair with a good book. It seems like every time I go on vacation, one of my favorite things to do is sit by the pool or under a palm tree and get carried away by a great page-turner. For many of you book lovers, this is an activity you can do almost anywhere and it doesn’t cost a fortune!

Travel – Do you want to see the world?

What does traveling mean to you? Here are some initial ideas to help you decide on the type of trip you’d like to take:

• Cruises to exciting ports – many exotic places to see
• Motorhome in the United States: it’s like taking your home with you
• Rail – Take the train. You can sleep, eat and enjoy the sites on the way to your destinations
• Open Top: Get a convertible and visit the bed and breakfasts
• National Parks – Think Yosemite, Yellowstone, or any of the other 386 parks in the US.

Family and friends – Who are the people you want to be with?

Retirement happiness isn’t just based on your location, activities, and travel. It’s also about the people around you. So think about who these people are. Here are some common ones:

• Wife
• grandchildren
• Kids
• Fathers
• Brothers
• another family
• Friends

What work? Did you think retirement meant not working? Think again.

Many people look forward to retirement to start that new business they always dreamed of but knew would not be able to support them financially. Here are some examples:

• Photographer: It’s time to take that hobby and turn it into a business
• Travel Advisor – Check with your tax advisor, but you may be able to take free vacations
• Little Shop – Flowers, model trains, antiques, etc. Again, turn your hobby into a business
• Web Store – There are tons of web opportunities out there including being an online consultant, designing websites for others, and doing research on the internet.

Running a business in retirement is a great way to add extra income and keep your mind sharp!

Well that’s it; We hope this information has helped you create his ideal retirement. Be sure to write this information down, as it will be used in later steps of the Layman’s 10-Step Plan for Retirement Planning.