The gig economy is changing the way the world works. The majority of gig workers don’t have access to basic employer benefits, like tax withholding. Catch, a Boston-based startup, is offering the first portable personal benefits platform; it allows freelancers and independent contractors to easily set up and manage benefits and financial plans for taxes, insurance, and retirement.
Freelancers can use the app to create a personalized plan and set aside money each time they’re paid. Catch sets aside the right amount with each paycheck so at tax time, or when it’s time for a day off or retirement, there are no surprises.
Professional freelance writer Julius Mitchell sums up the difficulty of freelancing: “No employment benefits – you can say goodbye to healthcare, bonuses, and pension plans. You have the same duties towards yourself as a self-employed person.
Another full-time freelancer, Rose Scott, expresses the reason that many still choose this path, “I have the privilege of being paid to do something that allows me to live an authentic life. To me… that’s a form of happiness money can’t buy. If that mean penny-pinching, and that I can’t retire by age 67 (if at all), then so be it.”
According to Andrew Ambrosino, Founder and CEO of Catch, “People like Julius and Rose are the reason we created Catch. We believe that everyone should have simple and holistic access to savings, investment, and insurance. The pressure of the gig economy has only made it more difficult and confusing. We are thrilled to make our vision of an elegant and easy safety net a reality, starting today.”
Catch offers a platform where freelancers and independent contractors can manage savings, retirement, and insurance all in one place. Catch helps provide a safety net to those who do not receive benefits from an employer by setting a portion of each paycheck automatically towards what matters most -- an upcoming tax bill, future retirement, or some much needed time off.