Any excercise is good and swimming is one of the best cardiovascular calorie burners, but if you want to target your waistline and love handles, there are several toning exercises that will do that without giving you unwanted muscles if you don't overdue it. Many years ago I was quite heavily into body building, but that was when I was in denial trying to prove (maybe to myself) that I was macho.
At Home
Ab curl: Lie with your feet on a chair or the couch. Keeping your lower back on the floor, bring your upper body up as far as possible. Add twisting, or crossing over side to side will also tone your obliques.
Reverse curl: Lying on your back, relax your upper body on the floor with knees bent. Pull your knees in towards your chest by squeezing the stomach muscles. Hold momentarily then relax the knees back down.
Broomstick twists: Sit back straight with a broomstick, or bar across your shoulders behind your head. Rotate your shoulders first one way, then the other as far as comfortably possible.
Russian twists: Sit on the floor, legs slightly bent with your hands together in front (as in prayer). Twist your upper body as far as possible in one direction, then the other while keeping your hands in front of your body.
Leg raises: Lying on the floor raise one at at time. Hold it for a few seconds then slowly lower it. These are very good for midsection toning, but they work the hip flexors more than the abdominals.
If you have access to a gym or the YMCA
Body extensions: They should have a Roman Chair which I think is the best for not only targeting on your waist and love handles, but give you a firm round butt (I have one in my mini-gym at home). These picture below are rather self explanitory in that you bend your body towards the floor then hyperextend your body. They will tone your gluteus maximus (butt), abs, hamstrings, quadriceps and calves.
Abs, butt hamstrings, and calves.
Love handles, hips and butt.
Abs, quadriceps and butt.
Always stretch to warmup before exercising, and don't eat a bigmack afterwards.
Sandi