December 11, 2022

1980 Views

Why Travel Nurses Should Consider Digital Financial Services

Posted on December 11, 2022February 3, 2023 by Lirika Hart

Thanks to digital financial services, people now have a new way to conduct work using sophisticated technologies such as computers, tablets, and smartphones. People should use these services and benefit from them.

Digital financial services are very beneficial for traveling nurses since they simplify and secure the financial process.

But what are digital financial services?

Digital finance is the provision of traditional financial services digitally through various digital channels. Payments, loans, savings, insurance, and transfers can be made via computers, tablets, smartphones, ATMs, and POS terminals.

The benefits of using these services are many, and some of those are listed below:

Access to formal financial services
Reaching a wider range of customers
Lower costs for businesses and customers
Increases financial inclusion
Access to formal financial services
Increasing the efficiency of delivery
Improving the quality of service
Impact on revenue growth
Reducing the risk of financial crime

Digital Financial services are made up of three components, all of which are very important and play a major role in the process:

Digital transaction platforms
Devices
Retail agents

Nurse traveling and why they should use digital financial services

We explained that using digital financial services is very beneficial to travel nurses, but let’s explain why:

When nurses decide to move to another location to advance their careers and pursue their dream job, they face several challenges at the outset, including heavier workloads, more frequent relocation, cultural differences, tax housing, mixed rates, and other challenges of travel nurses that arise over time. And for a short period, it will be very difficult for them to overcome these challenges, and sometimes they might feel overwhelmed.

If they take their time, work hard, are willing to learn, ask questions and approach things with more composure, they can adapt and overcome these challenges.

One of the steps they should take is to use digital financial services that will make their lives easier in general. They will help by having a smart device to manage their money to understand assignment agreements, tax implications, and other things of that nature.

Easier to manage their money

Digital services allow nurses to know about their finances digitally and use them easily without physically taking them with them. Good financial management should be a priority for every nurse, especially traveling nurses.

A better understanding of financial information

A traveling nurse should be careful to find the best bank for tax information and other financial information. To make things easier at the beginning, she can work with a company that helps her with tax information, offers different resources and services to help nurses with financial issues, or can advise her to find the best bank to open her account because they will have regular transactions in the place where they will work. If the nurses travel to different places, they can be advised by these companies to find the best bank in Australia, Europe, the US, and other places.

Finish works even if they are in a hurry.

Since travel nurses are always in a hurry and don’t have much time, they can manage their financial affairs through their smartphones by using these technologies, i.e., cell phone banking, automatic credit extensions, and digital micro recharge loans. They will reduce the cost, speed up the processing time of loans or fulfill other needs due to the lack of free time.

They will find solutions without going into the financial objects

Through digital services, nurses can find solutions to their problems or tasks, even if they do not go to financial institutions. They can finish through the bank agents for a short time and without transportation costs.

Conclusion

Travel nurses face various things during their travels, and they need to learn how to deal with all these challenges. They should be able to learn, question, and progress during the adjustment periods. Among other things, they should learn how to use and benefit from digital financial services because the benefits of these services are many. From saving time to reducing costs, financial risk, and other benefits. Nurses also should consider working with a professional company that will be very effective with a lot of professionalism.

Our job board is a great place to search for your next travel nurse assignment. We have you covered with our housing page if housing is an issue. You can search for what you are looking for.

By Nadine Westwood

October 13, 2022

3179 Views

6 Useful Apps for Managing Your Finances When You’re Working as a Travel Nurse

Posted on October 13, 2022October 5, 2022 by Nadine Westwood

The life of a nurse is busy enough without also having to worry about keeping your finances in order when you’ve got little time to spare each day.

Luckily there are lots of excellent apps out there which make it straightforward to stay on top of all things money-related, so let’s look at the best of the bunch and explain why they’re worth using.

Mint: Comprehensive budget tracking

This is one of the most celebrated and widely recommended budgeting apps on the market and for good reason.

First up, Mint is free to download and use, so as long as you can put up with the in-app ads, it won’t cost you a penny.

Next, there’s the intelligent way that it tracks spending and breaks down your outgoings according to their categories. So if you’re trying to manage your budget while on the move, it will give you a snapshot of where you’re up to in an instant.

Last, there’s the simplicity of the interface, which belies the comprehensive suite of functions that are on offer. Simply put, there’s no better free budgeting app out there than Mint.

SoFi: All-in-one stock trading

More and more people are getting into the stock market at the moment, and the convenience of apps like SoFi, which lets you trade stocks online, is a big reason for this.

The market moves quickly, so you’ll want an app that lets you keep tabs on your portfolio and invest in a diverse array of products, including ETFs and even cryptocurrencies. That’s exactly what SoFi offers, and in addition to assisting with trading from your smartphone, it also makes filing tax returns easier each year when you need to report your gains to the IRS.

The app is award-winningly intuitive, and there are often incentives to encourage new customers to sign up, which will sweeten the deal further. So whatever your investment goals, SoFi is the app to use to reach them.

Venmo: Mobile payments

There are plenty of mobile payment platforms that let you send and receive money swiftly, and Venmo is arguably the top contender out there at the moment.

It functions like a digital wallet, meaning you can harness it for everything from splitting the bill at a restaurant with friends to sending gifts to family members.

Many businesses support Venmo as well, so paying for goods and services when you’re on the go is child’s play. Better yet, if you decide to set up a side hustle to supplement your income, you can use Venmo to accept payments as well.

Credit Karma: Free credit score & reporting

Even if you think you’re pretty good at managing your money, you won’t know where you stand unless you check your credit score regularly.

While some brands charge a fee if you want to access your full credit report, Credit Karma is free of charge.

It not only tells you your score out of 710 points, with weekly updates provided so you can monitor your progress over time but also pinpoints the factors that are influencing your score. That way, you can make changes that will boost your score in the future, and you’ll also know if there’s some issue or error that’s holding you back and needs to be rectified.

You can link bank accounts, track your mortgage, review credit cards, and even get suggestions for offers that will save you money on particular finance products, all within the Credit Karma app, so it really is convenient.

YNAB: Premium budget management

Mint may be free, but there are also premium products out there that target the same market and go above and beyond to justify the monthly fees they charge.

You Need A Budget, or YNAB for short, is one of the most feature-rich platforms out there and has some interesting aims underpinning its design.

For one, it wants to empower users by showing them where their money is going and encouraging them to make changes which will ensure every dollar counts for something.

It boasts that a typical user can expect to slash $6,000 off their spending in the first year of use, which justifies the almost $100 cost of an annual subscription.

Personal Capital: High-end wealth management

If your main issue is that you’ve got quite a bit of cash to put to work, and you don’t know how to go about this, Personal Capital has got you covered.

Wealth management is the name of the game here, and while the fees are fairly steep, the access to finance experts it affords you is perhaps the most saleable aspect of the app.

As you can see, it pays to match the finance apps you use to your needs, so don’t go all-in on installing every recommended app, but only choose the ones that make sense for your circumstances.

Our job board is a great place to search for your next travel nurse assignment. We have you covered with our housing page if housing is an issue. You can search for what you are looking for.

If you are a new travel nurse or looking into becoming a travel nurse:

START HERE

Travel Nurse Guide: Step-by-Step (now offered in a PDF Downloadable version!)

By Marichelle Jamelo

July 12, 2022

2512 Views

Retirement Savings to Consider For Travel Nurses

Posted on July 12, 2022December 27, 2023 by Marichelle Jamelo

401(k) PLANS AND IRAs IN 2022

Unless you’re fortunate to have parents or mentors to teach you how to retire financially independent early on, you’re like the rest of us who learned later in life. It isn’t until we land a nursing job that we discover there are different retirement vehicles, such as employer-sponsored 401(k) plans and IRAs, also known as Individual Retirement Accounts.

The truth is that nurses are experts in medicine, not finances, and it’s ok if you’re hearing the terms 401(k) or IRA for the first time. This article will cover the basics to be better prepared when talking with a financial representative or advisor. And no matter where you are in life, it’s never too soon or too late to start planning for retirement!

WHAT IS A 401K PLAN?

According to Investopedia, a 401(k) plan is a retirement savings or investment vehicle offered throughout the US. It is one of the most recognized retirement plans because many American employers provide it to their employees.

A percentage of your pre-taxed paycheck will go directly into this retirement account. As an incentive, an employer may match a portion of your contribution. A 401(k) contains investments such as stocks, bonds, and mutual funds that help your money grow. You can choose how you want your money invested. You can also consult with your 401(k) plan company representative.

REQUIREMENTS

Start date

Your employer will specify when you can join the plan. For example, you may be able to participate on the first day of the calendar year following the completion of the required year of service.

Years of service

Most plans require 1 to 2 years of service before participating in a 401(k) plan. Some employers determine your eligibility using hours served. Check with your employer’s HR department for details.

Ownership

You may be required to put in one year of service with your employer to be considered 100 % vested. What this means is that what you contribute with your own money is yours, but vesting applies only to the portion of your retirement contributions that your employer matches.

BENEFITS OF A 401(k)

You control your money

You have the flexibility to increase or decrease your contributions at any time. You also can be as aggressive or as conservative as you want.

Employer matching

Your employer may offer to match a percentage or all of your contributions. What your employer matches is essentially free money.

The contribution limit in 2022 for nurses under the age of 50

According to CNBC, the maximum amount you can contribute in one year is $20,500, which is $1000 more than in 2021.

A higher catch-up contribution in 2022 for nurses ages 50 and over

Nurses over age 50 are eligible for catch-up contributions into their 401k. You can contribute additional money up to $6,500 above the $20,500 yearly limit.

Tax advantages

You contribute with pre-taxed dollars, which lowers your taxable income. This means that you may pay less in taxes at the end of the year. Your money also grows tax-deferred, and you don’t pay taxes on it until you retire.

Easy payroll deductions

Having your money automatically deducted from your paycheck makes saving effortless. It’s like how the saying goes, “out of sight, out of mind.”

Portability

The money you contribute to and earn in your 401k is yours and can go wherever you go. For example, if you switch jobs, you can roll it over to your new employer’s 401k plan, roll it over to another tax-deferred retirement plan, or do nothing and leave it with your old employer. You choose! Be sure to check with a financial advisor to see what would be the best option for you.

A 401(k) is a great option to start investing in if you haven’t already. But what if the travel agency you work for doesn’t offer a 401(k) plan? The good news is that a 401(k) plan is not the only option. Another option is an Individual Retirement Account, or IRA can be an option.

WHAT IS AN IRA?

An IRA is a type of retirement savings account that has tax advantages. You can open an account on your own at almost any financial institution, such as a bank, investment company, or brokerage firm. There are two main types of IRAs a Roth IRA and a Traditional IRA.

ROTH IRA REQUIREMENTS AND BENEFITS

Eligibility

You can contribute to a Roth IRA if your income is below a certain level. More specifically, your modified adjusted gross income and you’re filing status will determine if you are eligible. You can check the IRS website for more information. Please consult a financial representative or advisor for more information about your eligibility.

Ownership

Your Roth IRA is yours. You have the flexibility to increase or decrease your contributions at any time up to the maximum contribution limit per year. You also can be as aggressive or conservative as you want.

Contributions

You make contributions with after-tax money. In other words, you use money from your paycheck to fund your Roth IRA. Therefore, there is no immediate tax benefit for contributing.

The contribution limit in 2022 for nurses under age 50

The contribution limit is $6,000 a year if you’re under age 50. Contribution limits typically change every 1 to 2 years.

The contribution limit in 2022 for nurses ages 50 and over

If you’re age 50 and older, you can contribute up to $7,000 a year. Contribution limits typically change every 1 to 2 years.

Taxes

Contributions into a Roth IRA are not tax-deductible.

Withdrawals

A required minimum distribution (RMD) states that you must start to withdraw from your retirement account each year at a certain age. However, there are no required withdrawals until after the owner’s death.
If you’re 59 ½ or older and the account is at least five years old, you can withdraw your money tax-free and penalty-free. Other qualified distributions can be tax-free as well. Please consult with a financial representative or advisor for more information on what is considered a qualified distribution.
Early withdrawals before 59 ½ are taxed as ordinary income, and there is a 10% penalty by the IRS. There are certain instances you can withdraw without being penalized. Consult with a financial representative or advisor for more information.

Growth is tax-free

Your money grows tax-free. Roth IRAs continue to grow through compounding even during the years you can’t contribute.

TRADITIONAL IRA REQUIREMENTS AND BENEFITS

Eligibility

Anyone with earned income can contribute to a Traditional IRA but with income restrictions that differ from a Roth IRA. Please consult a financial representative or advisor for more information about your eligibility.

Ownership

Your Traditional IRA is yours. You have the flexibility to increase or decrease your contributions at any time up to the maximum contribution limit per year. You also can be as aggressive or as conservative as you want.

Contributions

There are some ways you can fund a Traditional IRA.

You can contribute after-tax dollars, but you have to inform the IRS that you’ve already paid tax on those dollars. Please consult with your tax preparer or tax lawyer for more information.
You can roll over other retirement plans, such as a previous employer’s 401(k) plan.

Contribution limits in 2022 for nurses under age 50

The contribution limit is $6,000 a year if you’re under age 50. Contribution limits typically change every 1 to 2 years.

Contribution limits in 2022 for nurses ages 50 and over

You can contribute up to $7,000 a year. Contribution limits typically change every 1 to 2 years.

Taxes

Contributions to a Traditional IRA can be tax-deductible. The IRS website explains when you’re allowed to claim your contributions as a deduction on your taxes. Please consult with your tax preparer or tax lawyer for more information.

Withdrawals

A required minimum distribution (RMD) for a Traditional IRA starts at age 72. Therefore, you must begin withdrawing from your Traditional IRA at age 72. There is a penalty for withdrawing after age 72.
You can withdraw at age 59 ½ or older without restrictions or penalties. The IRS will treat your withdrawals as ordinary income, and it will be taxed.
Early withdrawals before 59 ½are subject to taxes and a 10% penalty. There are certain instances you can withdraw without being penalized. Consult with a financial representative or advisor for more information.

Growth is tax-deferred

Your money will grow tax-deferred. Any earnings you receive on your investment can produce gains of their own, and this type of cycle repeats itself having the potential to make more money. You don’t pay taxes on the growth until you withdraw money in retirement.

The goal is to empower you with some basic information about 401(k)s and IRAs. The good news? You don’t have to be an expert. That’s what financial advisors are for! So remember, no matter where you’re at in your traveling nursing career, you’re in the driver’s seat.

We hope you found these tips for retirement savings for travel nurses helpful.

By Kevin Devoto

April 23, 2022

2548 Views

How Travel Nursing Brings Financial Stability

Posted on April 23, 2022April 22, 2022 by Kevin Devoto

Financial stability two words every adult loves to hear. It’s hard out there in the working world. Every day you show up to your job, trying to earn a living and hopefully still be able to set money aside for yourself for the future. For some jobs, that’s easier to do than others. Some give you that opportunity, while other jobs make it seem impossible. Travel nursing gives you the former. Whether you’re just starting to figure out your future career plans or looking to do a complete career switch, read below to see how being a travel nurse can bring you your own financial stability.

Income vs. Expenses

There are several factors that go into becoming financially stable, but, in a nutshell, having financial stability means the income you are earning is greater than your expenses and any money going out. Now, of course, earning this amount of income may happen for some weeks or months, but it needs to happen for a steady amount of time in order to have freedom with your finances. Travel nursing does just that. In general, no matter where you decide to travel for work, the pay will be much better for you than simply working and living in one set location. Better pay means a better opportunity for you to pay off any debts you may have. Perhaps you took on student loans to help attain your nursing degree. The sooner you pay both of those off, the sooner you put that money into your savings. Maybe you want a nice little nest egg, or maybe you want to start investing in stocks or rental properties. Whatever you decide to do, that extra income will open a world of possibilities toward increasing your financial stability.

On top of your income being higher than a non-travel nurse’s, your expenses are also less. Now, you may be asking, how is that possible? Well, with some companies, those travel expenses are paid for. Normally it would cost quite a lot for gas or plane tickets or a new apartment every few months, but because companies want and need travel nurses, sometimes those expenses are covered. Some companies even offer a daily budget to pay for food.

Once you add all of that up, it’s easy to see how most of your big expenses would be cut in half or disappear entirely. So, all in all, your expenses would go down while your income is going up. These are the exact things you need in your life to set you up for solid financial stability.

Benefits Are Good

Another thing I want to touch on are the benefits for travel nurses. You don’t have to work hundred-plus-hour weeks or not have a life in order for financial stability to happen. Travel nurses are given many benefits for doing what they do. Health insurance is generally provided. You are in the healthcare field, after all, and while you can shop for your own health insurance if you like, the hiring company usually provides their own insurance option. A 401k and bonuses are included as part of being a travel nurse, with some employers even matching up to a certain amount of your 401k. Time off, as well as an all-around flexible schedule, are also part of the benefits of the job. There are no boring nine to five schedule options you have to suffer through.

Final Thoughts

No matter who you are or what your background is, we all want financial stability. Travel nursing gives a lot of opportunities for that where, unfortunately, not a lot of other jobs do. It is a very rewarding and beneficial option for those looking to feel more stable with their money.

Are you looking for your next travel nurse assignment? Click here to view our job board. Do you need housing for an upcoming assignment? Click here to search our housing page.

If you are a new travel nurse or looking into becoming a travel nurse:

START HERE

Travel Nurse Guide: Step-by-Step (now offered in a PDF Downloadable version!)

By Keith Kolomichuk

December 18, 2019

4471 Views

Leave 2019 Feeling Good About Your Finances with Three Practical Steps

Posted on December 18, 2019January 16, 2023 by Keith Kolomichuk

When thinking about practical steps to take at the end of the year it is often helpful to pause for a moment and consider the big picture. How was 2019 for you?

What was most meaningful in your life this year? What are the moments you will cherish? What were the hardest moments this year? What are the moments that will push you forward?

It is important to think about life now, as it is. 2019, like many years before it, was full of moments of fear and pain as well as times full of hope and joy. We want to be able to look at where we are now and identify what we value so we can start to see where we hope to be in ten, twenty, or fifty years.

Framing these questions on our lives gives the resolution to make some harder financial decisions. Ultimately, we need to be sure that this nomadic lifestyle is helping us either experience the world as we want to now, or helping us get closer to where we see ourselves in the future.

Here are some practical steps to take before the close of 2019 that will start you on a path to achieving your financial dreams.

Contribute to a Traditional IRA or a ROTH IRA

It is important for your future to make sure that you are building the wealth needed to move you from where you are now to where you envision yourself down the road. The end of the year is a great time to look back at the money you have saved and allocate an amount to contribute to your retirement.

Two ways to do this are with a Roth IRA or a traditional IRA. Your unique circumstances will dictate the best way to make that contribution, and consulting a tax and financial professional can help you make that decision with confidence.

Start saving for a life-giving goal

Tackling how we handle our financial lives can be daunting. One of the ways to ease the anxiety surrounding this topic is to pick a savings goal that inspires you. Perhaps it is something for yourself, like that dream trip to Australia, or for your family, like contributing towards college tuition. The important part of this step is to pick something that resonates with you. In fact, it is more important for this goal to be something that moves you emotionally than it is for the goal to make sense to the people around you. Once you have a goal, automate the savings so that it doesn’t require any more action on your part. Maybe an automatic deposit into an account where you don’t see it every day. Once you remove the personal effort from the process, you will be surprised at what you can accumulate toward your dream goal over time without even realizing it.

Make a plan

More important than the prior two steps is putting together a plan. Especially while working as a travel nurse, there are many complex decisions that need to be made. Should one use a hospital’s 401k? Should one save in an IRA? What other steps should one take to ensure that life’s unexpected twists and turns don’t derail your finances? Consulting with a financial planner in this process is helpful to ensure that you and your family have accounted and planned even for unique situations. A plan combines hard facts like current situation and more abstract items like personal values and sets up a framework that guides you down life’s unexpected path, while also helping you understand why you are making each financial decision.

Taking any of these practical steps will help you step into 2020 with a clearer vision of where you have been and where you could be in the future with the right path in place. Each year we choose to be financially proactive can impact our future in spades. Hopefully, when we reach 2050, we have arrived closer to that place we envisioned.

Raymond James & Associates, Inc. member New York Stock Exchange/SIPC
Address: 5285 E Williams Circle, Ste. 5500 Tucson, AZ 85711 Phone: 520-330-3652
This material is provided for educational purposes only and does not constitute investment advice. Investing involves risk and you may incur a profit or loss regardless of strategy selected.

Finished the travel nursing guide and are ready to look for an assignment?

Check out our travel nurse jobs!

By The Gypsy Nurse

October 13, 2019

14613 Views

Maximize Your Travel Nurse Housing Per Diem

Posted on October 13, 2019March 21, 2022 by The Gypsy Nurse

What do you do when the rental housing market is very tough, expensive, or limited availability? How do you find something affordable so that you can maximize your travel nurse Housing Per Diem?

One of our Network Group members Amy Sherman RN, recently shared her experience and gave The Gypsy Nurse permission to re-print and share with you here on TheGypsyNurse.com

My $236 Bedroom

Amy attests that “Every single thing in the photo was purchased from Craigslist or thrift stores (including a foam mattress in pristine condition!) This is what you can do when you take an unfurnished apartment and the stipend.”

$164 Living Room

Amy says that it took about two weeks to fully furnish her unfurnished apartment. “I was on a mission.” She also convinced her landlord to rent the apartment short term by agreeing to leave the furniture at the end of the lease. It’s a win-win for both the renter and the Landlord.

“I love hunting down bargains, it’s like a scavenger hunt to me. Plus, I get to see a lot of the city. – Amy”

What a great way to explore!

Another member travels with an air bed. She uses her totes as nightstands, TV Stand and end tables. Yet another member states that she spent about $80 on furniture and then negotiated with the landlord to pay utilities in exchange for the furniture.

Finding affordable temporary housing can be a very stressful part of this job. To be successful at it you have to have a lot of tricks up your sleeve and know what resources are available. These are just a few examples of some of the resourceful things you can do to make the most of your housing per diem.

Check out these great resources to maximize your stipend:

Furnished Finder – furnishedfinder.com

Airbnb – airbnb.com

Do you have other tips? Please share them in the comments.

We are excited to share and learn all the tips we can to save a little money and enjoy the adventure.

By Honza Hroch – CreativeNurse

April 14, 2019

24242 Views

Income Sources Available for Nurses During Retirement

Posted on April 14, 2019May 6, 2021 by Honza Hroch – CreativeNurse

Throughout you career as a nurse, chances are that you’ll probably have the opportunity to partake in a variety of retirement plans either by setting up one yourself or by working for different employers.

Some of the major areas capable of creating income for you when you retire will be discussed in detail:

401(k)

This is a plan established by your employer which enables you to have some money removed from your salary automatically and put into the plan. Many travel nurse agencies will match a percentage of the amount you deposit. This makes a 401K a great option for nurse retirement income as travelers.

401(k) plans permit you to put off paying your taxes pending when you begin to make withdrawals except if your employers offer a Roth option in which taxes are paid up front. In addition, some 401(k) plans allow you borrow funds from your plan assets however, you must wait to clock 59.5 years before you will be granted access to the money. If for any reason you wish to make some withdrawals before the age of 59.5, there are additional tax penalties that must be paid. Understanding the plan fully is very vital as well as knowing that taxes are only deferred to the future when not paid up front.

Pension

Luckily for some employees, employers set up a pension for you where money is paid in monthly. A pension provides an income stream in retirement and is also a wonderful addition to every account you own. A pension account is hugely beneficial but only a few companies still provide pensions, most of them don’t. There are lots of decisions to make prior to getting your pension. More often than not, you must decide if this income stream will last throughout your lifetime only or if you’d like to include your spouse in the plan. Unfortunately for travel nurses, pensions aren’t a viable option for nurse retirement income.

IRA

This is an individual retirement account which can be created and you get to deposit funds into it provided that you earn an income. There are limits on income which determines if you qualify to put in a contribution that is deductible. The IRA is very similar to 401(k) in that it has a Roth option which allows you deposit money into the plan after taxes have been paid and then grants you access to withdrawals that are free from being taxed in the future.

Social Security

Here’s how social security works; while working, you are paying money into the collection of funds continuously which entitles you to receive funds from the program every month when you retire. The age at which you can begin your social security income varies and the later you begin to withdraw, the higher you can earn. The standard age of retirement to earn benefits from social security is 66 years however, withdrawals can be made as early as 62 years or as late as 70.

Annuities

Annuities are very similar to pension and also a great means of generating a lifetime income stream for those without pensions. This comprises an accumulation and distribution phase where money grows and an amount is paid out monthly to the annuitant on the plan. The sum of money paid out is dependent on the amount of money accumulated inside of the plan and also on annuitant’s age.

Real estate

Real estate can also serve as another source of income when the income gotten from rent is more than the mortgage paid or if the mortgage has been paid off completely. This income stream will keep bringing in money for you and your family pending when you make a decision to sell off the property. Real estate that generates income is great provided that you’ve got the energy required to care for the property or you can employ somebody to help manage it for you.

Regular investment account

Having a regular investment account in addition to IRA and 401(k) can be of huge benefits. A general investment account is not affected by tax rules and is built in the conventional retirement plans. When you have some money invested outside of the plans that qualify for tax, it makes it possible for you to withdraw money before age 59.5 with no tax penalty. It will also provide you more flexibility around planning your tax and around when you are ready to retire.

Cash Value inside of life insurance

In addition to the death benefit, several permanent life insurance policies have a cash accumulation account which grows with time. The cash accumulation inside of life insurance policies grows on a tax postponed basis and although its growth is not as quick as money invested in the stock market, it’ll make a wonderful addition to your retirement plan. The assurances behind some of these policies give one the confidence that no market corrections will happen within the policies and so we can establish a more predictable future.

——

Variable annuities and their underlying variable investment options are sold by prospectus only. Investors should consider the investment objectives, risks, charges and expenses carefully before investing. This and other information are contained in the prospectus or summary prospectus, if available, which may be obtained from your investment professional. Please read it before you invest or send money.

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Searching for a Great Paying Travel Nurse Job?

By The Gypsy Nurse

August 9, 2018

18804 Views

Maximize Your Travel Nurse Housing Per Diem

Posted on August 9, 2018March 2, 2022 by The Gypsy Nurse

What do you do when the rental housing market is very tough, expensive, or limited availability? How do you find something affordable so that you can maximize your travel nurse Housing Per Diem?

One of our Network Group members Amy Sherman RN, recently shared her experience and gave The Gypsy Nurse permission to re-print and share with you here on TheGypsyNurse.com

My $236 Bedroom

$164 Living Room

“I love hunting down bargains, it’s like a scavenger hunt to me. Plus, I get to see a lot of the city. – Amy”

What a great way to explore!

Check out these great resources to maximize your stipend:

Furnished Finder – furnishedfinder.com

Airbnb – airbnb.com

Do you have other tips? Please share them in the comments.

We are excited to share and learn all the tips we can to save a little money and enjoy the adventure.

By Focus Staff

August 8, 2018

6679 Views

3 Ways to Save Money on Housing

Posted on August 8, 2018October 16, 2023 by Focus Staff

This is a sponsored post by: Focus Staff

Working as a travel healthcare professional allows you to make plenty of money. Of course, as a wise man once said, “mo’ money, mo’ problems.” If you aren’t careful with your finances, you also run the risk of spending lots of money. Housing is sure to be one of your biggest expenses. Fortunately, there are ways to cut down on your housing costs. Interested? Here are three ways to save money on housing as a travel healthcare professional.

The “shared economy” is the newest thing. From Uber to AirBnb, people are offering up their cars/houses and rooms these days. Some websites that facilitate this are (www.roommates.com, www.airbnb.com, www.TravelNursingCentral.com, www.SpareRoom.com, www.vrbo.com, industry and community Facebook groups, and even www.meetup.com for social networking.)

Sometimes getting a hotel/motel for the first week or two and then discussing options with colleagues at your new facility is the best way to find awesome deals and potential roommate situations.

2. Take advantage of sites designed specifically for traveling healthcare providers searching for a place to stay.

Several websites, such as FurnishedFinder.com, put you in direct contact with property owners who are offering affordable housing options for traveling nurses. In addition to getting a great price that includes utilities, you can rest assured that the property is in a safe neighborhood and fully furnished. There are entire homes for rent and single rooms, which may be ideal if you are traveling on your own and don’t plan to have frequent visitors. As a bonus, you’ll save even more money by renting a room. NurseHousing.com is another site worth visiting. If you aren’t sold on renting an entire home or staying with someone else, visit sites geared toward business professionals who often travel for extended periods of time. For example, HotelEngine.com reports they can save you as much as 60% off public hotel rates.

3. Take advantage of loyalty programs and corporate discounts.

Most hotels offer some loyalty program for repeat guests, which is definitely something you’ll want to look into as a travel healthcare professional. The more you stay, the more points you accrue, which can be redeemed for free or discounted vacation nights. Bahamas, Cancun, Paris? Who knows where travel points can take you. In some cases, you may be able to redeem points for gift cards to various restaurants and stores. Although this may not save you money specifically on housing, it will help out other parts of your budget.

A Bonus Tip

There is one other option you may want to consider. If you prefer to take assignments in more rural areas where housing options are limited, you may want to invest in a camper. Campgrounds are usually more accessible. Yes, you’ll have the upfront cost associated with purchasing a camper, as well as the maintenance costs, but you’ll never have to worry about looking for a place to stay. Even better, you won’t have to concern yourself with packing because you’ll already have everything you need. Super bonus tip – you can roast marshmallows and make s’mores in the evening. Who doesn’t like marshmallows and s’mores? Win, win, win.

Finally, don’t forget to find out if the company you work for offers a housing stipend. Even if they don’t, it never hurts to ask. You’re an awesome talent so they might make an exception.

But what are digital financial services?

Nurse traveling and why they should use digital financial services

Easier to manage their money

A better understanding of financial information

Finish works even if they are in a hurry.

They will find solutions without going into the financial objects

Conclusion

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