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Could you use some good vibes? Whether you visit the famous vortexes, explore the red rocks, or simply enjoy a hike through nature, there are plenty of things to do in Sedona, Arizona, that will send those positive vibrations your way.

This town is awash in history, natural beauty, and spiritually rich experiences. Plus there are great arts, shopping, and dining. Here, learn about the 10 best things to do in Sedona, Arizona, and how to plan your trip to make the most of your time in the Southwest.

Best Times to Go to Sedona

Sedona can get hot for summer travel, so consider planning your trip for April, May, October, or November when it’s cooler. Bonus: There are flowers to enjoy.

Here are some annual events in Sedona you might want to plan your trip around:

•  April: Sedona Yoga Festival

•  May: Piano on the Rocks International Festival

•  July: Sedona Hummingbird Festival

•  September/October: Red Rocks Music Festival

•  October: Annual Sedona Rock, Gem & Jewelry Show

•  November: Sedona Food Truck Festival

•  December: The Festival of Lights

Bad Times to Go to Sedona

Summer can get pretty brutal in Sedona, with temperatures in the high 90s and even 100s June through August. If you’re traveling with pets, consider how the weather will impact them, especially if you go on a long hike in the dry air and high altitude.

Also, early July is monsoon season, so if you’re planning outdoor activities, there’s a chance you won’t be able to enjoy them during this period.

Average Cost of a Sedona Vacation

If you’re planning a weeklong vacation for two in Sedona, you’ll want to budget for renting a car and paying for a hotel room, activities, and food. On average, you can expect to spend about $3,614 a week for a couple or $2,012 for a solo traveler.

Hotels typically cost between $92 and $421, while vacation rentals often run from $260 to $600 per night, but you may be able to bring the whole gang or family.

Many of the best things to do in Sedona are free, so you won’t break the bank finding activities, but you do have to calculate how much it will cost you to get to and from Arizona. If a plane ticket will be involved, this could be a good moment to sign up for an airline credit card and earn some rewards or discounts.

Also think about whether you’d like to buy trip insurance. You may be covered by credit card travel insurance, or you may want to buy a separate premium to protect your investment in your vacation.

10 Fun Must-Dos in Sedona

If you’re saving your travel fund and thinking about your Arizona adventure, here are the top 10 things to do in Sedona based on recommendations from those who have recently visited, as well as top-rated attractions from travel review sites. There’s something for everyone, whether you are spiritual, sporty, or live to shop.

1. Take a Vortex Tour

Sedona is known for being a vortex hotspot. A vortex is considered to be a concentration of earth energy that you can feel in certain spots and may enhance meditation and self-knowledge. There are hikes like the Airport Mesa Vortex where you can try to feel the vortexes yourself, or you can take a tour.

There are many companies that offer vortex tours, including Sedona Spirit Journeys & Vortex Tours. The advantage of taking a tour with a guide is that they have permission to visit certain sacred sites that you won’t be able to access on your own, and they’re very knowledgeable about the vortexes. A three-hour tour for two people costs $194 each. You can use your plastic and earn some credit card rewards when paying. spiritjourneysofsedona.com/tour-journeys

2. Visit Tlaquepaque Art & Shopping Village

After your vortex tour, get your retail therapy on at the adorable Tlaquepaque Art & Shopping Village. This village is reminiscent of Old Mexico and houses art galleries, boutiques, and restaurants. You might linger till nighttime and enjoy a romantic dinner at René, an upscale French restaurant. tlaq.com/

3. Follow a Wine Trail

A fun thing for couples or groups to do in Sedona (or more precisely, just outside of Sedona) is wine tasting in Verde Valley. Cool off in the shaded patio of Javelina Leap Winery with a tasting flight, or watch Oak Creek gurgle by at Page Springs Cellars over a bottle of New Mexico Pinot Gris and a picnic. visitcottonwoodaz.org/wine-trail.html

4. Go for a Hike

Sedona is an outdoor enthusiast’s dream come true. A fun activity is to hike to see the many uniquely-shaped red rocks, like Snoopy Rock, Cathedral Rock, or Coffee Pot Rock, which looks just like what its name implies.

This amazing landscape will leave you with loads of memories, whether you hike for an hour or a full day. Plus, hiking is a free thing to do in Sedona, which can be a way that families afford to travel.

5. Book a Jeep Tour

Not in the mood to hike? One of the local Jeep tours, like the 60+-year-old Pink Adventure Tours (pinkadventuretours.com/), can get you out into the natural beauty of Sedona that you might not otherwise see. From one of these rugged vehicles, you can better appreciate the cliffs and ravines while (depending on which tour you take) learning about the lives of the indigenous Sinagua people or seeing where Hollywood Westerns were filmed. Prices start at around $79 for adults for a 90-minute tour.

6. Explore a Wild West Town

Just outside of Sedona is the not-to-be-missed Wild West town of Jerome. How can you not visit a place that was called “The Wickedest Town in the West”?

Jerome, perched on the side of a hill, boomed in the late 1800s, thanks to its copper mines, and was a hub for the best and the worst of life back then. Today, you’ll find a historic downtown with cute boutiques, art galleries, and restaurants. Start your morning with an indulgent breakfast at The Clinkscale, followed by a few hours of shopping and exploring. The first Saturday of each month, from 5 pm to 8 pm, there’s the Jerome Art & Wine Walk. jeromechamber.com/

Recommended: How Does Credit Card Travel Insurance Work?

7. Spiritual Reading

Take advantage of Sedona’s plethora of spiritual practitioners by having a tarot card or palm reading, going on a shamanic journey, or having your aura read. You can also have a reiki healing, a sound bath, or learn about transformational breathwork. If you’ve ever been curious about such pursuits, Sedona can be a great place to explore and experience them.

8. Meditate at Amitabha Stupa and Peace Park

Step out of Sedona and into Asia at the Amitabha Stupa and Peace Park. This beautiful park welcomes people of all faiths and is a wonderful place to walk, meditate, or pray. The Stupa, a dome-shaped structure, is 36 feet high and is said to bring visitors happiness and protection. tara.org/amitabha-stupa/

9. Have a Spa Day

A Sedona vacation, by its very nature, demands relaxation. What better way to slow down than to book an individual or couple’s massage at one of Sedona’s many spas?

Or you might try something different by experiencing a sweat lodge at Sedona’s New Day Spa, or pick the Time for Two package at Amara Spa.

10. Get Arty

Sedona draws (pun intended) artists from all around the world, who yearn to capture its famous red rocks and endless vistas. See exhibits at the Sedona Arts Center, which features 100 local and regional artists. You can also purchase jewelry, art, and photography made by the artists, and, if you’re an artist yourself, there are workshops and classes you can participate in. sedonaartscenter.org/

The Takeaway

Sedona offers nature, healing, and spirituality, as well as the chance to unwind from your busy life. The problem is: You won’t want to return home! Whether you are looking for an active getaway or something more relaxing, you’ll find it among the beautiful red rocks, along with great cultural attractions, shopping, and dining.

SoFi Travel has teamed up with Expedia to bring even more to your one-stop finance app, helping you book reservations — for flights, hotels, car rentals, and more — all in one place. SoFi Members also have exclusive access to premium savings, with 10% or more off on select hotels. Plus, earn unlimited 3%** cash back rewards when you book with your SoFi Unlimited 2% Credit Card through SoFi Travel.

FAQ

How long should I spend in Sedona?

You can see and do a lot in just three to five days in Sedona, including hiking to the famous red rocks, getting a massage or spiritual reading, shopping, and enjoying great cuisine.

What are some hikes in Sedona?

There are hikes for every level of expertise, including the Airport Mesa Vortex, Cathedral Rock, Bell Rock Climb, and Fay Canyon.

Can I find a vortex by myself in Sedona?

There are trails that you can hike to find vortexes in Sedona like the Airport Mesa Vortex, though taking a guided tour may help you discover vortexes in protected areas you can’t visit on your own.

Photo credit: iStock/bboserup

Standard processing time for passport renewal is between 10 and 13 weeks. While that may work for people who don’t have an international trip already planned, you may need to renew your passport faster than that.

The State Department offers a few ways to get your passport faster. One option that is available to everyone (for a fee) is Expedited service, which takes seven to nine weeks. If you have urgent travel or a life-and-death emergency that requires overseas travel, you may be able to call to get an appointment within a few days.

How Does Passport Renewal Work?

There are a few ways to renew your passport. Many people simply mail in their forms. But if your passport was issued a long time ago, damaged, or issued in a former name, you’ll need to appear at a passport processing facility in person.

In 2022, the State Department began a pilot program for citizens to renew their passports online. At the time of this writing, however, the program was paused.

If you are renewing your passport by mail, you can mail in Form DS-82, your old passport, a passport photo, and any relevant name change documentation. If you don’t qualify to renew your passport by mail, you must appear in person. You’ll need to bring Form DS-11, along with documents like proof of citizenship, identification, and two passport photos.

Average Wait Time for Passport Processing

According to the State Department, the standard wait time for processing a passport is between 10 and 13 weeks. If you choose to pay for expedited processing, it will take between seven and nine weeks. Figuring out when to renew your passport can be tricky, especially if you are a frequent international traveler or need to schedule getting a visa.

Expedited Passport Services

If waiting 10 to 13 weeks for a standard passport renewal doesn’t work for you, you have a few options. You can pay $60 for expedited service. The State Department offers additional services for emergencies and urgent travel.

How to Renew a Child’s Passport Fast

If you travel internationally with your family, you’ll need to keep your children’s passports current. This can be even harder for an adult passport. While adult passports are valid for 10 years, children’s passports are good for only five and must be renewed in-person. There are no special exemptions for renewing children’s passports fast — you’ll need to pay for expedited processing or call the State Department if you qualify for emergency- or urgent-travel processing.

Using Passport Expediters and Couriers

There are many companies that claim to be able to renew your passport fast. These companies are not part of the State Department, and you won’t get your passport any faster than if you appear in person at an official Passport Renewal Facility. Passport expediter or courier companies also charge additional fees.

Pro Tips for Getting Your Passport Fast

Regularly check your passport expiration date: Put it on your calendar once a year, tied to a larger financial or documents review. If international travel is on your agenda, don’t put off passport renewal; assume that it will take 13 weeks, and start the process ASAP.

Here are a few tips for getting your passport fast:

•  Gather all of your citizenship and identification documents.

•  If you have a life-or-death emergency or urgent international travel, you can call the State Department to get a rapid appointment.

•  If you’re renewing a young child’s passport, you’ll need both parents to appear in most circumstances.

The Takeaway

The State Department notes that passport renewal processing times are 10 to 13 weeks. You may pay an additional fee for expedited processing, which is between seven and nine weeks. If you have a life-or-death emergency or urgent international travel, you may also qualify to renew your passport fast by calling the State Department for a renewal appointment.

SoFi Travel has teamed up with Expedia to bring even more to your one-stop finance app, helping you book reservations — for flights, hotels, car rentals, and more — all in one place. SoFi Members also have exclusive access to premium savings, with 10% or more off on select hotels. Plus, earn unlimited 3%** cash back rewards when you book with your SoFi Unlimited 2% Credit Card through SoFi Travel.

FAQ

Can you renew a passport online?

In 2022, the State Department began a pilot program that allowed certain people to renew their passports online. As of March 2023, that program is paused, but it may open again at some point. Courier and expediting companies that are not part of the Department of State cannot help you renew your passport online — be wary when dealing with companies that promise online passport renewal.

What happens if my passport has already expired?

If your passport expired, what happens next will depend on how long ago it expired. Generally you can still renew your passport by mail as long as it’s not more than five years out of date. After that, you will need to renew your passport by appearing in person.

What is the quickest you can get a passport renewed?

If you qualify, you may be able to get your passport renewed within 24 hours. You’ll need to show proof of a life-or-death emergency that requires urgent international travel. You’ll also need to call the State Department and hope that there are immediate renewal appointments available. If possible, do your best to plan ahead before it becomes an urgent issue.

Photo credit: iStock/Evgenia Parajanian

It’s a win-win situation. When employers help employees become homeowners — even in small ways — workers may feel even more loyal to them. And employees who own their homes are far less likely to relocate and change jobs.

The reasons aren’t hard to figure out. Homeownership can be a major contributor to employees’ overall financial well-being, security, and stability, all of which can add to their productivity and satisfaction on the job. Employer-sponsored homeownership benefits also help build strong communities, and strong communities are almost always good for business.

The need for employer help may be greater now than ever. Stubbornly elevated home prices, the uptick in mortgage rates, low housing inventory, and the high overall cost of living have meant that it has been harder for employees, particularly workers under age 35, to afford to buy their own homes. For many first-time home-buyers, the only option is to move to a lower-priced housing market. If those employees can’t work fully remotely, they may simply switch jobs.

The widespread lack of affordable housing in many areas can also make it difficult for employers to attract and retain the best hires. According to data from Gallup, the cost of replacing an individual employee can range from half of to two times the employee’s salary.

The ultimate result? A huge challenge for HR professionals.

Offering home buying benefits can help. Numerous companies, understanding the link between homeownership and retention, have introduced homeownership benefits to help build a loyal, productive workforce that can further advance their business objectives.

Below are some of the ways employers can help their workforce become satisfied homeowners. After studying your workforce demographics and your budget, you may find inspiration among the various approaches below.

Homebuyer Education and Counseling

Knowledge is one of the most cost-effective benefits there is. Consider pairing up with area mortgage experts, financial counselors, and others to produce on-site or virtual information seminars on various homebuying topics. Banks, mortgage brokers, and real estate brokers in your area may be willing to offer free information sessions at your organization in hopes of generating clients. Or you may find one of the many homebuyer consultants available to help educate your workforce.

These programs can provide interested employees with the basics on the local market, different types of mortgages and their rates, mortgage insurance, down payment assistance, legal issues related to homeownership , foreclosure prevention, and much more. And an informed employee can avoid the financially costly mistakes that can so often be part of real estate purchases.

Recommended: How Homeownership Can Help Build Generational Wealth

Credit Counseling

A good credit score is key to qualifying for a mortgage with favorable rates. Employer-sponsored credit counseling can help employees learn how to check their credit scores and, if necessary, take steps to improve them. Consider partnering with a respected credit counseling firm to conduct in-house or virtual workshops or allowing employees time off to attend approved credit counseling seminars outside the workplace.

Recommended: Supporting the Financial Well-Being of Newly Hired Recent Graduates

Down Payment Assistance Programs

With home prices as high as they are in many markets throughout the U.S., saving up a down payment of 10 percent to 20 percent or more can be a barrier to homeownership for many workers.

Employers can help in two ways. They can offer direct financial assistance. This usually entails paying a percentage of an employee’s down payment with a dollar amount maximum.

Employers can also help employees access government-sponsored grants and low-interest loans designed to help first-time homebuyers cover down payments and/or closing costs. Your state’s housing finance agency and your local housing authority likely have first-time homebuyer programs. Many offer qualifying buyers grants that don’t have to be paid back. Others have low or no-interest loans that often don’t have to be paid back until the house is sold or refinanced. As a rule, these programs aren’t broadly advertised, so employers who help workers find and apply for such assistance can play an important role in securing these funds.

Help Finding and Paying Real Estate Professionals

Consider partnering with a local bank or mortgage broker to help employees find home financing. In return for the potential mortgage clients, you may be able to negotiate lower closing costs and fees for your employees that your firm also might or might not help subsidize.

A partnership between your firm and local realtors can provide workers with special help in the house-hunting process. And a relationship with local real estate lawyers or access to your own firm’s legal expertise can help lower legal fees associated with home buying for your employees.

Professional relocation services can help with home buying when an employee moves from one area of the country to another. However, with the rise of remote work, this is increasingly less common.

Important Extras

There are lots of small but important and cost-effective gestures employers can make when employees are finishing up with the home buying experience. Extra days off (with pay) for closing and moving, for instance, can reduce stress and produce goodwill.

When the deal is done, it’s a nice gesture to acknowledge the new homeowner with a card or housewarming gift. Be sure to remind your employees that you or your expert partners can help answer any follow-up questions that come with homeownership.

You’ll also want to make sure that learning to manage mortgage payments and home ownership is part of your employees’ overall financial well-being picture. Your wellness programs may be able to help with budgeting for home improvements, maintenance, insurance, and other costs your employees may not have anticipated with home ownership.

The Takeaway

Employers can’t be the only resource employees turn to when it comes to buying a home. But a company that has a workforce full of employees of home buying age may find that it can fill an important need and, in the process, help keep its workforce steady, loyal, productive, and satisfied.

Products available from SoFi on the Dashboard may vary depending on your employer preferences.

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Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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Whether you want a worry-free retirement or a custom-built home, your financial goals are worthy investments. And building wealth is likely a foundational goal for most people, as it can help them achieve most, if not all of their financial goals.

There are some tried and true ways to save money and build wealth at any age — whether you use those funds for immediate purchases, long-term goals such as retirement, or estate planning for after you’re gone. The key is to start as soon as possible, rather than wait until “the right time.”

Set Short- and Long-Term Goals

The first step in building wealth is to set short and long-term goals you can revisit throughout your journey.

Short-term goals focus on achieving more immediate results, such as funding next summer’s trip or buying a new car. In contrast, long-term goals might require several years or more of preparation. For example, you may want to collect enough to pay off your mortgage or send your kid to college expenses. Creating realistic goals at the start gives you direction, so make them as specific as possible.

💡 Quick Tip: Did you know that opening a brokerage account typically doesn’t come with any setup costs? Often, the only requirement to open a brokerage account — aside from providing personal details — is making an initial deposit.

Create a Budget

Once you know your goals, drafting a monthly budget becomes more manageable. Document up to three months’ worth of expenses and then break the list down into fixed costs, variable costs, necessary costs and discretionary costs. You probably can’t stop paying your utilities, but you will likely find places to save in your discretionary category (think restaurant meals, or entertainment expenses). Dedicate a portion of that discretionary spending to your goal’s fund regularly.

Taking stock of your financial situation gives you a clearer understanding of where you are, where you’re going to go, and how you’re going to get there.

Pay Off Debt

To dedicate more money toward building wealth and saving for your goals, you’ll likely need to pay off some debt first. You can use your discretionary income as a tool for minimizing your debt load. If you have multiple debts, consider using a debt repayment method, such as the avalanche method or the snowball method, to accelerate the process.

Debt Repayment: The Avalanche Method

The avalanche method prioritizes high-interest debts by ranking the interest rates from greatest to least. Then, regularly pay the minimum on each of your debts, and put any leftover funds towards the one with the highest interest rate. Once you pay that off, continue on to the second-highest debt. Follow that pattern to minimize the interest you’re paying as you become debt-free.

Debt Repayment: Snowball Method

Alternatively, the snowball method is another debt repayment strategy. It’s essentially the opposite of the avalanche approach. List your debts from smallest principal to largest, ignoring the interest rates. Then, regularly dedicate enough funds to each to avoid penalties, and put any extra money toward the smallest debt.

After the smallest debt is paid, redirect your attention to the next largest debt, and so on. As the number of individual debts shrink, you’ll have more money to apply towards the larger debts. You may still have interests to worry about but picking off the debts one by one can impart a sense of forward movement and accomplishment.

Start Investing

If you haven’t already, find out what if any employer-sponsored retirement savings plans are available to you, such as a 401(k). These qualified retirement plans offer tax advantages and typically allow you to direct a portion of your paycheck to your account, putting your savings on autopilot. If your workplace does not offer any retirement accounts, consider opening an IRA or a brokerage account to build an investment portfolio.

Generally, investing for retirement when you’re young means you can take on more risks. While a diversified portfolio is a standard strategy, younger investors might have a portfolio that’s heavier on equities early, since they may help you capitalize on long-term growth. As you get older and closer to retirement, your risk profile may change and your portfolio will need a rebalancing to incorporate more fixed-income investments.

💡 Quick Tip: Distributing your money across a range of assets — also known as diversification — can be beneficial for long-term investors. When you put your eggs in many baskets, it may be beneficial if a single asset class goes down.

How to Increase Your Income and Save More

You might be getting by on your current income, but if you had the chance to boost it, wouldn’t you? With an extra-positive cash flow, you could tackle debt, save more, and achieve your goals sooner. Here are a few ways to make that happen.

Ask for a Raise

Asking for a salary increase is one solution for improving your cash flow. All it takes is one good conversation, a positive work record — and a bit of courage and confidence. Speak to your peers and read up on how to conduct yourself when asking. Going in with a plan will save you anxiety and help you get your points across clearly.

Seek Other Investment Opportunities

When investment opportunities pop up, take advantage of the ones that speak to you whenever possible. Some may be easier to break into, like real estate, one of the world’s largest asset classes. Other options include gold and silver, which you can invest in physically or through ETFs. For investors willing to take on a higher-risk opportunity, investing in startups may be appealing. It all comes down to what investment will best serve your personal short- and long-term goals.

Start a Side Gig

Additional work is also great to bulk up your resume and create new connections. It seems like everyone is starting up a side hustle these days. From online shops to freelancing, the opportunities are endless. All you have to do is determine your marketable skills and how to advertise them. There might be local opportunities, or you can create a profile online on side hustle-oriented websites.

Cut Expenses

Sometimes it’s not about finding new currents of money, but about creating a larger pool with the money already coming in. Take a second pass at your list of discretionary expenses to pinpoint a few more areas you could cut back on without feeling the impact in your day-to-day life.

One good example: Automatically renewed subscriptions for streaming services and local businesses, like gyms, are convenient. But think about how frequently you use the service. If the answer is “not often,” you’re not getting your money’s worth — and you may want to negotiate a lower fee, or cut the subscription altogether.

How to Build Wealth at Every Stage of Life

While it’s good to have a general strategy in place for building wealth and increasing cash flow, different stages in your life may require you to focus on different things. Taking advantage of the opportunities each decade brings you will help you financially adjust and build a stable lifestyle.

In Your 20s

You may be right out of school and trying to navigate the job market, but don’t wait to start working towards your long-term financial goals. The sooner you start, the sooner you’re likely to reach your goals.

Create an Emergency Fund

Generally, an emergency fund should include about three to six months’ worth of living expenses. Although that sounds like a lot, you’ll be grateful for the cushion if you should lose your job, or crash your car, or have a medical emergency. Unexpected things happen all the time, and an emergency fund will protect you while you get things back up and running. It will also keep you from having to touch other savings accounts, like a retirement account.

Eliminate High-Interest Debt

Your student loans aren’t going anywhere, so pay them off as soon as possible. The same goes for any other high-interest debt you might have incurred, such as with a credit card. Paying off growing interest rates will bog down your ability to save.

However, don’t be afraid to use your credit cards. Your 20s are the perfect time to build credit, which will be vital to certain goals, like purchasing a house. Use them strategically and pay them off immediately to build an upstanding credit history.

In Your 30s

Your 30s may bring some stability into your life, whether it’s regular work, a partner, and/or kids. However, the costs you’re facing are likely growing with you. Focus on money moves that will benefit you long-term.

Plan for College Expenses

If you have children, saving for their education is a big step. Use opportunities like a 529 account to help provide the funding. A 529 plan is a tax-advantaged savings plan you can use to pay for future tuition and related costs. That said, many people who’ve been there, and done that, may advise against prioritizing your kids’ education over your retirement.

Pad the Nest Egg

By some popular estimates, by age 30 you should have at least one year’s worth of your annual salary saved for your retirement — and twice that by 35. Incrementally increasing the amount you put towards your savings will help boost that number as well.

In Your 40s and Beyond

By 40, conventional wisdom holds that you should be well on your way to a growing nest egg with three times your annual salary saved up. At this stage, you may also have other assets to your name, such as property. If you have kids, they might be nearing college age, and retirement might not seem quite as far away as it once did.

Protect Your Wealth

It’s always smart to protect your assets and yourself. Make sure you have insurance covering both your estate and yourself (through health and life insurance). Insurance can take a burden off of your family’s shoulders in case anything happens to you.

Capitalize on Make-Up Contributions

A make-up, or catch-up, contribution, is an additional payment that anyone over age 50 can make to their 401(k) or IRAs retirement savings account. If you’re in a financial position to contribute these extra funds, it can help bulk up those savings to help prepare for retirement.

For 2023, the maximum allowable catch-up contribution to 401(k) plans is $7,500. The IRA annual contribution limit for 2023 is $6,500, with those 50 and above allowed to contribute another $1,000 a year. In total, anyone over 50 can put $7,500 into their IRA annually.

Wait to Take Social Security

Did you know you could receive a higher Social Security benefit if you wait to claim your benefits? Those who hold off collecting Social Security until age 67 get 108% of their benefits, and those who wait until the age of 70 can receive 132% of their monthly benefit. On the other hand, if you begin taking benefits early, at age 62, you’ll receive 25% less in monthly benefits.

Shift Your Asset Allocation

Investors should periodically revisit their portfolio and reassess their investments and risk level. As you get closer to retirement, you may decide to allocate a larger part of your portfolio to safer choices like bonds and other fixed-income.

The Takeaway

Building wealth at any age starts with a frank look at your current income and expenditures, a detailed list of short-term and long-range goals — and a little follow-through based on where you are in life.

Some ways to start building wealth are to take on a side gig or side hustle, find ways to cut expenses and increase savings rates, and to start investing. There are numerous ways to do any of these, and it may take some experimenting to see what works for you.

Ready to invest in your goals? It’s easy to get started when you open an investment account with SoFi Invest. You can invest in stocks, exchange-traded funds (ETFs), mutual funds, alternative funds, and more. SoFi doesn’t charge commissions, but other fees apply (full fee disclosure here).

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