Age: 49 Spouse’s/Partner's age: 55 Annual gross income from employment or profession: 25000 Annual gross income of spouse:30000 Monthly take-home pay 3,000 Type of employment: e.g. Civil Servant, self-employed PAYE worker In general are you: (a) spending more than you earn, or BREAKING EVEN (b) saving? Rough estimate of value of home 350k Amount outstanding on your mortgage: 10k What interest rate are you paying? 4.3 Other borrowings – car loans/personal loans etc NO Do you pay off your full credit card balance each month? YES If not, what is the balance on your credit card? Savings and investments: 15K IN ON POST. 15K EBS Do you have a pension scheme? BUY OUT BOND FROM PREVIOUS EMPLOYER OF APPROX 50K Do you own any investment or other property? NO Ages of children: 13 AND 7 Life insurance: YES What specific question do you have or what issues are of concern to you? We are going to clear our mortgage with savings from the EBS. We will then have 900 per month which we will save. We do need to do some small home improvements but these can wait until we have built up cash for them. We have lived frugally since I was made redundant in 2011 (back working part time now) and are unsure what to do. Should I start a pension or simply save what we were paying into our mortgage. We do try and save 150 every week but this is taken back most months to cover insurances, kids extra expenses, car repairs etc.