Savings / Pension advice

flatulantyounggoat

Hi all, looking for some suggestions on how to manage my money. Early 30's....

Bit of a run down, I've recently started my own business which earns me about £6000 a month in salary and dividends from the business. I pay myself a very low salary and recoup the rest in Dividends. I have about £400 in an old work place pension. Currently I am using my ISA allowance (help to buy ISA) which I put £200 a month into. I have the rest of my money in a Marcus savings account.

Just about to put 40k into the deposit for my first house (160k)

Any thoughts? I'm pretty concerned my pension is dire.

Thanks

masonic

flatulantyounggoat wrote: »

Any thoughts? I'm pretty concerned my pension is dire.

Your pension is dire, but if you are earning £6k a month some corrective action taken now could sort that out in no time.

xylophone

You are employed by your own limited company?

Some information.

https://www.pensionbee.com/pensions-explained/pension-contributions/contributing-to-your-pension-from-your-limited-company

https://www.hl.co.uk/news/articles/pension-contributions-that-work-for-business-owners

https://moneytothemasses.com/saving-for-your-future/pensions/the-best-cheapest-sipps-low-cost-diy-pensions

You have a wide choice of providers.

https://monevator.com/low-cost-index-trackers/

Worth a read

https://www.amazon.co.uk/DIY-Pensions-Simple-Retirement-Planning-ebook/dp/B00B7QN8XM