Pension/investment scheme for artist

[lou32]

I am an artist and am looking for advice on starting a long term savings scheme.
I have a modest income, but do not pay tax.A pension won't work for me as i don't benefit from the tax relief and will in the end pay tax when i withdrawn my pension in my 60's, unless i take a tax free lumpsum and 20,000 per annum tax free.I am considering paying off more of my mortgage or setting up an investment/saving scheme but unsure which is most beneficial.Any advice would be helpful.

 

[StevieC]

At the moment, if it was me, I'd look at reducing my mortgage. When the recession really hits, I can see the art market like many other luxury goods taking a hit as people will have less dispoable income. Reducing your monthly outgoing will only help you short term and long term.

For the moment I would stay away from investments as markets are too volatile unless you are a risk taker and dont mind losing money if things dont work out.