SoFi Blog

After a rough day at the office, have you ever wondered what it would take to be your own boss? As someone who’s been there, I have a few suggestions. It may sound great—no boss breathing down your neck or annoying co-workers to contend with—until you realize how much you relied on that steady paycheck and benefits.

First and foremost, you need something you can sell to others. That might be your time, in the form of expertise or services, or it could be a product that you make or resell. Or you could ditch the traditional 9-to-5 by joining the gig or sharing economies.

You’ll also need to think through lots of practicalities. What business model will allow you to make enough to cover all your expenses and still set aside some savings? Where do you work best? At home, in a coffee shop, at a coworking space? If your employer was previously providing health insurance, where will you get it now?

Being your own boss can be extremely rewarding, but it’s not without its own challenges . When you’re in charge, who’s going to cover for you when you get sick or want to take a vacation? Who’s going to provide matching contributions to your retirement fund?

There are many things to mull over and they may differ with each person and scenario. To get you thinking about how being your own boss might work for you, here are some things to consider from people who are making working for themselves work.

Earlier today, we announced that we’re partnering with Hollywood Park in a 20-year agreement that makes us the exclusive naming rights partner of the new SoFi Stadium, the future home of the Los Angeles Chargers and the Los Angeles Rams.

In addition, SoFi will be the official partner of the teams as well as a partner of the performance venue and surrounding entertainment district. You can check out some pictures of what it will look like here.

Opening summer 2020, SoFi Stadium is the centerpiece of Hollywood Park, a 298-acre world-class sports and entertainment destination being developed by Los Angeles Rams Owner/Chairman E. Stanley Kroenke. SoFi Stadium will hold year-round sports and entertainment events, and will be the host of Super Bowl LVI in 2022, the College Football National Championship game in 2023, and the Opening and Closing Ceremonies of the 2028 Olympic Games.

SoFi Stadium will have a seating capacity of approximately 70,000, expandable up to 100,000, with 260 luxury suites, more than 13,000 premium seats, and over three million square feet of usable space.

And most importantly, we’ll have a 27,000 square foot SoFi-branded VIP activation space inside the stadium which will be utilized for special events, including a dedicated SoFi lounge for you, our members, to access, one of the exclusive opportunities the company plans to offer you as part of this partnership.

“We’re thrilled to be introducing SoFi Stadium to the world, through our partnership with Hollywood Park,” said Anthony Noto, CEO of SoFi. “This is a giant leap toward achieving our company’s mission of helping people get their money right by reaching our members where they are. The partnership with this transformative project taking shape under Stan Kroenke’s leadership is the perfect opportunity to drive awareness and trust in the SoFi brand as we continue to grow and reach members on a national level.”

In our efforts to bring you the latest updates on things that might impact your financial life, we may occasionally enter the political fray, covering candidates, bills, laws and more. Please note: SoFi does not endorse or take official positions on any candidates and the bills they may be sponsoring or proposing. We may occasionally support legislation that we believe would be beneficial to our members, and will make sure to call it out when we do. Our reporting otherwise is for informational purposes only, and shouldn’t be construed as an endorsement.

If there’s one thing most of the 2020 Democratic presidential candidates seem to agree on, it’s that it’s time to make college tuition more affordable for Americans.

For some, that means tuition-free community college, expanding Pell grants for students who come from a lower-income background, or even making tuition completely free for undergraduates attending public colleges and universities.

Remember the last time you bought a lottery ticket with the dream of winning big? Before the numbers were even drawn, you might have fantasized about how you’d spend your new fortune. Whether you realize it or not, a big part of that fantasy is conceptually being financially free, and the great news is you don’t have the win the lottery to achieve financial freedom.

What financial freedom looks like is different for everyone. For some, it might be financial independence from parents or a romantic partner. For others it might mean living a lifestyle where they don’t have to restrict themselves financially.

Even though all of our visions are different, and everyone’s path will vary a little depending on their own situation, there are some things we can all consider while trying to attain our dream.

There’s no sugar coating the current state of student loan debt. It is grim, especially when you read the numbers: Over 44 million Americans hold nearly $1.5 trillion in student debt. Much of the people who owe this debt are
millennials .

The millennial generation is constantly facing backlash, whether it is about the amount of student debt they owe or their “frivolous” spending habits on things like $5 coffees and avocado toast. However, maybe it is possible to have your avo toast and pay off your debt, too.

We wanted to find out how millennials really felt about the stereotypes against them and what they think about their student loan debt, so we polled over 1,000 millennials (ages 22-35)¹ across the U.S. to get their opinions and found some surprising statistics.