jjr_volvo740

Trying to troubleshoot my 1987 740 turbo. I have 200k miles on it.
Symptoms:
The car starts, idles, and runs fine. At startup everything looks good. As it comes up to temp, it starts to smoke a whiteish blue smoke. As I drive, it leaves a smoke cloud behind me. It smells like oil burning. Otherwise it runs fine, no funny sounds, boost pressure on the turbo gauge is normal. No dummy dash lights.
I assume I am losing oil on the exhaust side of the turbo. I figure this because at startup on a cold engine, it doesn't smoke until it warms up. I haven't taken anything apart yet.
Does anyone have any insight on what the problem may be. I don't want to take anything apart until I get some feedback from you guys.
Thanks
JJR