12:46 19 January 2013
When it comes to planning for the future, many people look to securing their finances for when they retire. And individuals who are self-employed may find it more of a struggle to get a goodpension than those people who work for an employer.
Here are some easy ways to save money if you’re self-employed:
1. While you may live off the state pension, why not also invest your money into a personal pension as these are one of the cheapest pensions? This will help boost your income for when you retire.
2. You could also make payments into an ISA if you have one set up? Or you could plan to look at ISAs in general by educating yourself more about them, as this would be an alternative way to save your money.
3. Perhaps you can live off the money you make from selling your business or other assets? You may wish to work well beyond the usual retirement age, or you may want to retire early (if you are fortunate enough to have finances in place to help look after you in later life).
Either way, by selling, or part-selling, your business you could come into some extra cash that you could use for your retirement.
If you would like more information there are several websites you can visit, including pension advisory websites, as well as HMRC.
Alternatively, you could seek to an independent financial advisor. Please know that charges may apply if you seek certain professional help.
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