How traveling pros can make 2018 more profitable

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Okay, it’s time for the obligatory new year’s resolution post. But stick with us, this one could make you some serious cash.

Diet starts now!If you’re like us, one of your annual I’ll-do-this-for-a-few-weeks-olutions is to save more money. Because who doesn’t want to have more money?! And if you’re a traveler with Focus Staff, you get access to a pretty awesome 401(k) program. (Side note: if you’re not, you should look into a Roth IRA or similar tax-deferred savings program.)

But back to our 401(k). Here’s how and why you should be investing in your 401(k). If you don’t, nobody else will either. Let’s use an acronym we just made up: FOCUS.

Future: it’s not as far away as it seems. Think about what your life looks like 5, 10, 20 years from now. Now’s the time to make a choice: do you want to live on cat food or filet mignon? It’s painful to save now, but interest working for you is a magical thing you will never, ever regret.

Offer: Not all 401(k)—or any investment product—are the same. Different companies offer different contribution plans. The most common is a company match of 3%-6%. If it’s not an enticing, or even no, match at all you might be better off investing on your own. Either way, knowing the details makes all the difference in the long run.

Contribution: It’s always a smart idea to contribute at least the minimum necessary to receive your company’s match. It’s kind of like free money. Never say no to free money.

Utilize: You’ll start to see a theme here: learn about the options. You need to make sure you’re aware of all opportunities you have to contribute to your 401(k). And the rules change. For instance, in 2018, you’re allowed to put in up to $18,500. If you can, do it!

Sit back: You get two tax breaks with a 401(k). First, your contributions to your 401(k) are tax-deductible and 2) your money is tax-deferred, meaning you don’t pay taxes on it until you retire. So take our advice: sit back, enjoy life now, but save for future you.

Okay, so, you’re probably thinking about last year’s resolution and how it didn’t go EXACTLY to plan. We feel ya. One of the coolest new tools we’re playing with is called LearnVest. It’s an online money management tool that gives you a strategy for how to save. You should definitely look into this, or a great host of other online tools, to help you navigate the uber-complex world of finance.

Oh yeah, just in case you’re curious, here at Focus Staff we offer an excellent 401(k) program with 100% match on the first 3% deferred, and 50% on the remaining 4%.

Cheers to a fruitful 2018!