Now that we are debt free, have our emergency fund set up and have saved a good deposit for a house it is now time to start saving for the long term. For many of us the first port of call will be our employer’s pension scheme. If you are self employed then it may be wise to look at what pension options are available. This may be via a private person pension scheme, self invested pension, 401k or some other form of pension product.
Even though you may not think it, this is the most important stage to becoming debt free and sorting out your finances it is. This is the time when you need to look at how much money you are making from your work, your business and any assets you may have attained that create an income stream so you can then look at what your total income is.