Foster Denovo|News & blogs|News|Investment solutions for the self-employed

Investment solutions for the self-employed

It is no secret that the gap between those with access to affordable financial advice and those without has only gotten worse recent years, or that self-employed workers are at risk because the majority are not saving adequately for retirement.

According to research from Fidelity, almost two in three self-employed people admitted they had no pension savings, compared to only 32 per cent of self-employed people.

But aside from saving into a pension, what else can self-employed people do to boost their savings for the future?

One of our advisers, Jamie Smith, talks to FT Adviser about the importance of maintaining a suitable contingency fund. He explains: “This typically is a cash fund to cover any short-term needs or emergencies.

“Self-employed workers may be more inclined to maintain a higher contingency fund, particularly if they have earnings that can fluctuate. They should also, of course, ensure they have sufficient liquid funds to meet any tax liability.”

He adds: “For those self-employed small company workers, an important consideration might be around how they extract profits from their company as tax efficiently as possible in order to build up their longer-term savings.”

Read the full article on FT Adviser  here.

Find me an adviser
Start your search

Keep up to date with our latest news

Newsletter sign up

Sign up to receive our bi-monthly newsletter Smart Money.
  • This field is for validation purposes and should be left unchanged.
Find me an adviser
accordian map downloadplusminus play-video select-box close downloadmapmapmap mapmapmapselect-boxmap mapvideo arrowarrow arrow