MONEY AND LIFE

Introducing On the Money

By: Justin Jaffe · November 01, 2024 · Reading Time: 2 minutes

When it comes to money, a lot of Americans are confused. In fact – brace yourself – more than half of us may even be financially illiterate, according to a 2024 study led by the TIAA Institute. Oof.

That means that roughly 130 million of us are trying to build a sustainable financial life without an understanding of the basic tools at our disposal, such as a Roth IRA, money market account, or high-yield savings account.

And of the Americans that are familiar with a 401(k), roughly 70% don’t actually use one, according to a recent MarketWatch study. Clearly, knowledge is only part of the issue here. Access, assets, and action are some of the others.

Even those who have a handle on the basics struggle. Our financial lives are complicated, emotional, and often confusing. We’re hungry for insightful guidance on investing, insurance, loans, and saving for college. But the torrent of market and economic news often adds to the noise instead of clarifying how to build a financial life that supports our ambitions.

At SoFi, we think about money all day, every day. Our braintrust – which includes registered financial advisors, certified public accountants, investing experts, strategists, partners, and our members – is brimming with expertise, experience, and a desire to help. This newsletter, On the Money, will be a great way for you to access all of that three times a week.

We hope to earn a place as a trustworthy, illuminating, and fun part of your continued financial literacy and your financial life.

Yours in trust,

Justin Jaffe
Sr. Managing Editor, SoFi


Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

Communication of SoFi Wealth LLC an SEC Registered Investment Advisor

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.


OTM20241104SW

TLS 1.2 Encrypted
Equal Housing Lender