When I was a little girl I remember looking at the adults who came into my life and deciding who I wanted to be like. You know what I mean. We used to sit around a bed with our girl friends and tell each other, 'when I grow up I'm going to have really long hair,' or 'I'm going to be a ballerina or stewardess'.

We looked at others who were further along the path of life and chose which direction we wanted to follow. As life goes on we refine the design, or get caught up in the everyday busyness of life and forget to plan. But essentially, we still choose most of what happens to us at all stages in life.

Lately, I've been able to observe the elderly. My husband's mother is a little old lady of 82 and currently lives on her own. She is now feeling that she would prefer to live in a home with more options for her care, plus more social interaction and planned activities. Consequently, my husband and I have had to help her find a such a place, and more importantly, help her arrange how she will pay for it.

This situation has brought me up close and personal with the topic of planning for financial independence. I have to admit that I have been guilty of not learning enough about financial planning early enough. I'm a late starter. But, as I have discovered, it is better to start late than not start at all. Since I don't want to spend my old age wondering where or how I will live, I am taking steps to ensure that I don't end up on someone's doorstep, wanted or not.

I would like to pass on a few bits of information and knowledge I've learned from my own study and investigation.

1. Learn about financial planning now. Use your local library to learn what different terms mean. There are several good books currently on the market that start from the very basics and teach you what you need to know. If you don't have a financial plan for your future, don't rely on the knowledge you already have. Take responsibility for learning what you need to know. You will find out what that is as you search.

2. Find a good independent broker of financial advice and counselling. Ask people you know, who have the lifestyle you want, for a reference. Most financial planners cost nothing for an interview. Lay out your current situation and ask for advice. Ask for copies of the plans he or she suggests and then check with other planners or someone whose financial advice you trust. Remember that financial planners make their money from your investments so be sure to ask how much those commissions will be. Don’t be afraid to ask a stupid question. My philosophy has always been that I’d rather look stupid once than be stupid forever.

3. Don't believe that your bank has your best interests at heart. They don't. They are in business to make money and they want to use yours and mine to do that. When it comes to planning for your financial independence, you must do your own shopping around.

4. Start now even if you have to start small. I started investing in mutual funds when all I could come up with was $30 a month. The sooner you start and the more you contribute, the better. I've found that once you make the decision, then the money is always available. Skip buying some of those little things that add up, and instead use that money to insure a better future for yourself.

5. If you rely on your government to support you, though you may not starve, you surely will not have a very high standard of living. We must take responsibility for our own futures. If you feel you don’t make enough money now, consider changing your work situation so that you do.

Though I don’t advocate living for tomorrow, I certainly advocate planning for it. In looking forward, we get to choose how we will spend our lives into old age. Earn, spend and save wisely now, and life will be much better when we are all little old ladies.