Chapter Two_Getting our ducks in a row

In the first chapter you learned about spreadsheets. I hope you downloaded the spreadsheet and played with it. It will accurately track your day to day expenses. It will also track your income. Using these numbers, it will tell you how far into the black, or in the red, you are running your financial life.

You probably even made some surprising discoveries. I know that when I looked at my budget I immediately saw a couple of places where I could painlessly cut expenses if necessary. Having such a cushion, exit strategy you might say, makes one's financial life a little less scary.

The next step before we actually put together a portfolio, especially one for retirement, is to talk with a financial adviser. I am not a financial adviser. Reading this does not count.

The first experts with whom you should touch base are the ones who have written books on investing. I really liked Protect Your Nest Egg by Eric Kirzner and Richard Croft and The Portfolio Doctor by David Cruise and Alison Griffiths. I bought these.

Of course, the library has lots of good books on managing your investments. If you find one you like, buy it and add it to your personal library. Spend some time with these texts. You want to be somewhat knowledgeable for the next step - sitting down with a living, breathing financial adviser.

Many branches of Canadian banks have people on staff to assist investors and they also have associated businesses where they can send you for advice. I talked with folk at the ScotiaBank and at Scotia McLeod.

I then chatted with a fellow I had known for years at the TD Canada Trust branch where I banked. After quizzing me, he said, "Open a self-directed plan. You can manage your own portfolio. If you run into problems, I am always here."

I took my financial adviser's advice. I opened a self-directed RSP.