What do cherry trees and Italy have to do with the economic downturn and retirement?

For many nearly and newly retired folks who took a hit in the economic downturn, a new perspective is needed when clarifying your vision of what retirement will look like.

If your vision of retirement looked included years of globe trotting around Europe with signifcant time spent in your vacation home on the Italian coast and your new bank balance says that's a 'no go' - think again. I encourage you to evaluate your dreams and goals to discover what is at their core. What key elements of that dream were important to you? With our Italian villa scenario, it may be that the love of exploring along with a passion for Italian culture and cuisine were the main elements. Maybe it was the idea of having a vacation property to escape to, or being near the water.

I was once working with a couple, we'll call them John and Mary, who religiously visited the Washington area each year to enjoy the cherry blossoms in the spring. It was an important part of their yearly planning that they didn't want to give up. When John developed health issues that prevented him from travelling more than short distances by car and not at all by plane, they were both devistated. They thought his health limitations limited the happiness they could feel when it come to their trip. We had a talk about what elements of this ritual were at the core of their enjoyment - why did they thrive on this vacation each year? For them, it was a few things: time together; the idea of having a tradition; beautiful cherry trees. After some brainstorming and some calling around, they found a farmer about a 30 min drive from where they lived who had rows of cherry trees. John and Mary plotted their route and decided that a scenic drive paired with an afternoon spent walking amongst the rows of cherry trees at that local farm and a well-deserved ice cream cone at a roadside drive-in gave them all the same essential elements that they had always enjoyed. It was their same old tradition with a modern twist.

Let's take a look at the dream of retirement in Italy and tweak it to match the reality of a redefined budget. Depending on the core elements of enjoyment, here are some very possible alternatives:
LOVE OF EXPLORING - take a wine tour, garden tour or unplanned road trip around the province with no destination in mind.
PASSION FOR ITALIAN CULTURE - Have an Italian community in your area? Become a regular. Visit Italian cultual clubs to see if they offer special events. Rent movies that highlight Italy. Decorate your home in a Tuscan style. Find out if there are cultural festivals in your area. Listen to Italian music. Take a language class.
ITALIAN CUISINE - Visit a different Italian restaurant each month. If there aren't many in your area, commit to trying different dishes each time you go. Take a class. Invite some friends over for dinner and try some new Italian dishes. Ask an Italian friend to share his/her cooking secrets.
HAVING VACATION PROPERTY - If a European villa is out of your league, a local cottage or trailer in an RV park may not be. Renting a cottage is a great idea, too. The inventory of cottage rentals has grown since the recession began as cottage owners, who can't sell their investments, decide to rent them out.
BEING NEAR THE WATER - Become a beach bum and spend the summer hitting all of the beaches in your area, canoeing the rivers, fishing the lakes or floating aimlessly in a rubber dingy - just don't forget your life jacket. You don't have to drive far in the great lakes region to be near water. Go on, get your feet wet! When's the last time you went hunting for sea shells?

Combine all of these ideas and you have yourself a pretty busy retirement plan that's not too hard on the wallet.