Introducing On the Money

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

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