SoFi Blog

Jumping into a nine-year-old bull market can feel overwhelming and you may question whether you’ve already missed the boat. Recent market volatility might also make you a bit anxious. Yet, despite what you might have heard about unstable financial markets, it’s important to consider the stock market in the long-term as opposed to focusing on the daily ups and downs.

And even if the market continues its rollercoaster ride, or takes a slight dip, as long as you’re investing money for the long haul, your account is likely to grow thanks to the power of compound interest.

So what are you waiting for? The sooner you start investing, the sooner you take a great first step in planning for the future. Here are seven investment tips for beginners on how to invest your money wisely in today’s conditions.

You’ve got your eye on a big purchase, something you’ve dreamed of owning. So, now what? How do you know when it’s the right time to buy an item that isn’t really a necessity? Well, the first step is to evaluate your current financial situation, including how much money you have in your savings and investment accounts, and the bills you currently owe. Are there any significant expenses you anticipate coming soon? Do you expect any negative impacts on your finances in the predictable future?

If a review of your finances suggests that, yes, it’s reasonable to consider splurging on a big purchase, then it makes sense to determine how you can save money to get the best deal possible.

In this post, we’ll get into money-saving tips, tricks, and hacks to help you save money when buying a car, getting engaged, planning your wedding, going on a cruise, or buying a boat. We’ll also show you how using SoFi Invest can help position you so that you can potentially afford the purchases of your dreams.

What’s Happening In The Market?

As you’re probably aware by now, the stock market has been fluctuating over the past few days. Some say it’s because trade tensions have ratcheted up between the U.S. and China. Others cite that the Fed is expected to hike rates again at its December meeting. Stock analysts note many tech behemoths like Netflix have missed earnings expectations. But, the cause is likely a mix of many factors.

It turns out, current valuation metrics seem in-line with historical averages and the global economy remains in good shape, irrespective of what is the risk du jour. The enthusiasm that surrounded international companies early in the year was likely a little too rosy when stock markets performed well, and the recent pessimism that has driven stocks lower is likely a tad overblown. It comes down to the fact that there are always risks and rewards, so it’s important to keep them in context.

It’s that time of year again, when the leaves change, the weather turns a bit colder and summer vacation seems like a distant memory. And if you graduated from college or an advanced degree program last spring, your student loan vacation is over, too.

In 2015, SoFi member Anthony Hartzog’s loans were in default. In 2017, he paid off $51,000 of $113,000 in debt. And this year, he and his wife Jhanilka Hartzog have already paid off $42,000 in debt with plans to wipe out the last $20,000 of their personal debt by end of year.

College graduates today are sharing a $1.5 trillion loan burden —the second highest debt amount in the nation after home mortgages. And this debt has the potential to lead to things like default, credit card debt, and potentially underemployment if grads can’t immediately find a job in their degree field.