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It has long been the norm in real estate transactions for the buyer’s and seller’s agents to be paid with a commission fee — typically 5% to 6% of the house price — that was split between the two agents and paid by the seller. But in early 2024, the National Association of Realtors®, a real estate trade association, agreed to settle a group of lawsuits that challenged this commission structure for violating antitrust laws and contended that commissions were artificially inflated.

NAR will pay out $418 million in damages. But more importantly for homebuyers, the fallout could trigger big changes in how homebuyers work with real estate agents to make their purchase — and maybe even save buyers and sellers a little money. NAR Realtors handle the majority of sales in the U.S., so this settlement could have a significant impact on real estate transactions going forward.

How might real estate agent fees work in this new environment? If you plan to buy or sell a home, it’s important to understand. Let’s take a closer look at how homebuyers and sellers might be affected.

What’s Changing About Real Estate Commissions?

The NAR settlement, which was preliminarily approved by a judge in April 2024, means that as of August 2024, sellers’ agents will no longer be required to offer to share commissions with buyers’ agents. If a commission (paid by the seller) is compensating the seller’s agent but not the buyer’s agent, homebuyers will likely be responsible for paying their own agent.

This isn’t all bad news for buyers. Sellers might reduce home prices if their costs associated with paying a broker are lower. It’s also possible that buyers’ brokers will compete for customers by keeping their fees low. But it’s too soon to say what exactly will happen.

What Does a Buyer’s Real Estate Agent Do?

If you’re a homebuyer, especially a first-time homebuyer, you may be wondering what services you would be paying for when you hire a real estate agent. Agents can perform a variety of services on behalf of their clients. If you’re buying a home, an agent can help you:

•   Narrow your search to the most desirable properties for your budget

•   View the homes in person or virtually

•   Make an offer on a property

•   Navigate the home inspection process

•   Negotiate any contingencies you’d like to include in the home contract

•   Prepare for closing

Who Pays the Agents’ Commissions?

It remains to be seen whether real estate agents will charge by the hour or bill customers a flat rate — or if some agents will continue to work on commission that is perhaps paid by the buyer.

Buyer’s real estate agents might begin to charge a fee (vs. a commission) for showing homes and shepherding clients through the purchase process. For buyers, this would add to the cost of a home purchase. Buyers have long suspected that sellers baked the commission fees into a property’s price, so that, in effect, buyers were already paying the commission. But while buyers could cover those baked-in costs out of their home mortgage loan, new fees paid by the buyer to the agent would come from the buyer’s pocket.

And they aren’t the only fees a buyer has to pay to finalize the purchase of a home. Closing costs can include:

•   Attorney fees

•   Title search and title insurance fees

•   Credit check fees

•   Upfront costs paid to cover homeowners insurance and/or property taxes

•   Home mortgage loan origination fees

•   Mortgage points, if you choose to purchase them

•   Recording fees

Closing costs typically run between 3% and 6% of the home’s purchase price. So if you’re buying a $300,000 home, you might pay anywhere from $6,000 to $15,000 at closing, not including the down payment.

Closing costs are usually the buyer’s responsibility, but it’s not unusual for buyers to persuade sellers to share some expenses that are paid in advance.

All this may lead some buyers to consider shopping for a home without the help of an agent. If you’re thinking of going this route, be prepared to spend lots more time researching potential properties, reaching out to schedule viewings, and vigorously advocating for yourself if you’re in a seller’s market. And be ready to be your own best representative in negotiations.

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What Does a Seller’s Agent Commission Cover?

Real estate commissions compensate a seller’s agent for the work the agent puts into helping sell the home. What this specifically entails can depend on the agent you’re working with and your needs. But again, this often involves researching listings, preparing comparative analyses, guiding home viewings, and helping to negotiate offers.

Here is how the commission fee has typically worked in the past: Say a home sells for $366,000 (the average home price in Fresno, California) and the commission is 6%, or $21,960.

If the sellers owe $250,000 on the home’s mortgage, they’d be poised to pocket $116,000 in profit. But first they have to subtract $21,960 to cover the commission fee. It’s likely that the commission fees will be lower now that the commission is not shared between the buyer’s and seller’s agents. But exactly what percentage a seller’s commission fee will be is up in the air.

Commissions are paid out once the transaction is complete. This typically happens after the buyer and seller have signed their closing paperwork. The seller will receive a check for any profits due to them from the sale, while the agent receives a check for the commission. Exact amounts of commissions, like home sale prices, vary widely by state.

It’s worth noting that there are still other costs involved in selling a home. You may pay a separate fee for professional staging or photography to get it ready to list, for example.

Recommended: Home Appraisals 101: What You Need to Know

Flat Fee vs Real Estate Commission Fee

There are real estate brokerages that advertise listing services for a flat fee. Usually, the flat fee is very low and may only include a listing with photos on the MLS (the Multiple Listing Service, a list of available properties). Real estate agents who charge a flat fee usually don’t offer to schedule showings or manage the listing in other ways.

Are Real Estate Commissions Negotiable?

More than ever, thanks to the NAR settlement, real estate commission fees may be on the table for negotiations. A seller may be able to ask for a reduced commission if you’re working with an agent to sell multiple properties. The agent may be open to accepting a slightly lower fee per deal if there are multiple deals in play. This, of course, depends on how likely those properties are to sell at your desired price point.

As a buyer, how you might negotiate paying your agent in this new payment structure remains to be seen — and it will be up to you to start that conversation. Remember that you can also still negotiate a house price in other ways, such as by tailoring your offer price and asking the seller for help on closing costs.

Why Even Involve Agents?

You could buy a house without a Realtor® but having a professional’s help can be invaluable, especially if you’re a first-time homebuyer. (Realtors® are real estate agents who are members of the country’s largest trade association, the National Association of Realtors®. They subscribe to a strict code of ethics.)

A real estate agent or Realtor® can help you navigate the ins and outs of the homebuying process so that you can feel confident about your purchase.

Real estate agents are legally obligated to put their clients’ best interests first. They are trained to negotiate price and contingencies, handle legally binding documents, prepare and show properties for sale, and market homes through the MLS.

And if you’re thinking about selling your home on your own, it’s worth considering that homes for sale by owner usually sell for an average of $100,000 less than agent-assisted sales.

The Takeaway

Changes in the way that real estate agents are paid are underway, and while sellers will continue to pay their agents a commission, buyers may increasingly need to pay their agents themselves. Whether buyers come out ahead financially in this changed compensation structure remains to be seen. Bottom line? If you are in the market for a new home, make sure you discuss an agent’s fee structure and payment process before signing on.

Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.

FAQ

Is commission and flat rate the same?

No. A flat rate is a specific rate negotiated for a certain service, while a commission-based fee is based on a price, such as the sale price of a home. For a seller, a flat rate typically covers only basic real estate agent services such as listing the property in a database.

What fee do most Realtors charge?

Historically, most real estate agents have worked on commission and would split an amount equal to 5%-6% of a home’s price, which was paid by the seller. Now, seller’s agents may still be paid on commission (albeit a smaller percentage) but buyer’s agents will increasingly be paid by the buyer. This means buyers will need to negotiate a fee with a real estate agent before agreeing to be represented by that agent in their home search. The amount of the fee will vary based on factors such as location, services provided, and time spent.

What is the difference between a flat fee and a fixed fee?

Yes, a flat fee and a fixed fee are the same when it comes to how a real estate agent is paid.

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SOHL-Q224-1945660-V1

Refinancing your student debt can have many benefits, including saving money on interest, lowering your monthly payments, or changing your repayment terms. But can you do it more than once? And, if so, should you?

Yes. And maybe.

There is no limit on how many times you can refinance your student loans. If your finances and credit have improved since you last refinanced and/or market interest rates have gone down, it may be worthwhile to refinance your loans, even if you’ve refinanced before.

That said, refinancing multiple times isn’t always worthwhile. Here are key things to consider before you refinance your student loans more than once.

How Many Times Can You Refinance Student Loans?

Technically, there is no limit to the number of times you can refinance your student loans with a private lender. In fact, as long as you qualify, you can refinance your student loans as many times and as often as you’d like. And given that lenders often don’t charge prepayment penalties or origination fees, there may be no extra cost involved with refinancing your student loans again.

Refinancing student loans again generally makes the most sense when your finances or credit score improves or interest rates decline. In these cases, it may be possible to save thousands of dollars in interest by reducing your interest rate by a couple percentage points.

If you’re not able to get a lower rate, however, refinancing may not make sense, especially if it extends your repayment term, leading to higher costs.

Also keep in mind that if you only have federal student loans, refinancing with a private lender may not be your best option, since it means giving up government protections like income-driven repayment plans and Public Service Loan Forgiveness.

When Should You Consider Refinancing Your Student Loans Again?

If you’ve already refinanced your loans with a private lender, here are some key reasons why you might consider refinancing again.

Your Financial Situation Has Changed

If you have experienced a significant improvement in your credit score, income, or overall financial health since your last refinance, you may be eligible for a better loan rate and terms than you did even a year ago. In fact, some borrowers with limited or poor credit might refinance their loans multiple times as their credit score improves and they become more desirable applicants.

Interest Rates Have Come Down

Student loan rates are not only tied to your creditworthiness, but also current economic conditions. If market interest rates have dropped since your last refinance, you might be able to secure a lower rate, reducing your overall interest payments. Even a small reduction in interest rates can lead to substantial savings over the life of the loan.

It’s a good idea to keep an eye on market trends and compare current rates to what you’re paying to determine if refinancing again makes financial sense.

Recommended: 3 Factors That Affect Student Loan Interest Rates

You’re Looking for Different Loan Terms

Changing loan terms can also be a reason to refinance again. Perhaps your initial refinance resulted in a longer loan term to lower your monthly payments, but now you’re in a better financial position and can afford higher payments to pay off your loan faster.

Conversely, you might need to extend your loan term to lower monthly payments due to a change in financial circumstances. Just be aware that extending your repayment term can cost you more money in interest over time.

What Are Some Advantages of Refinancing Multiple Times?

Before you decide to refinance your student loan again, it’s important to know the advantages and disadvantages of this strategy. Here’s a look at some of the pros of refinancing more than once.

•   Save money: Refinancing multiple times can help you take advantage of lower interest rates as your financial situation improves or as market rates decrease. Each reduction in interest rates can save you money over the life of your loan. You can also shorten your loan term to pay off your debt faster, which can also reduce what you pay in interest.

•   Better lender benefits: Refinancing with a different lender can provide access to better benefits, such as more flexible repayment options and hardship programs (such as deferment or forbearance). Choosing a lender that offers these benefits can provide additional financial security.

•   Promotional offers: Some lenders will offer special promotions or discounts for refinancing with them — if you see a great deal, it may be worth making the switch to that lender.

What Are Some Disadvantages of Refinancing Multiple Times?

Refinancing again also has potential drawbacks. Here are some to consider.

•   Credit impact: When you formally apply for a refinance, the lender runs a hard credit inquiry, which can negatively affect your credit score. While a single inquiry has a minimal impact, multiple inquiries in a short period can lower your credit score.

•   You could end up paying more: If you refinance to a longer repayment term, or even the same term every few years, you’re extending the amount of interest payments you make. This can keep you in debt longer and increase the total amount of interest you pay. If you refinance to a variable-rate student loan, the rate could also go up during the life of the loan.

•   Time and effort: The process of refinancing can be time-consuming, involving research and making comparisons between lenders, as well as paperwork and credit checks. Doing this multiple times requires a significant investment of time and effort. It might not always be worth it if you won’t save much money with your new loan.

Things to Look for When Refinancing

If you’re considering another refinance, it’s important to look at the following factors to ensure you’re making a smart financial decision.

•   Interest rates: Compare the offered interest rates with your current rate to ensure you’re getting a better deal.

•   Fixed vs. variable rates: Variable-rate loans have interest rates that typically start off lower, but can fluctuate based on market rates. The rate could climb if the rate or index it’s tied to goes up (and vice versa). Variable-rate loans might be a good choice for shorter-term loans. The longer the loan term, the bigger the chance of a rate hike.

•   Loan terms: Evaluate the terms of the new loan, including the length of the loan and monthly payment amounts. Keep in mind that a longer term can lead to lower payments but increase the total cost of your loan in the end.

•   Fees and costs: Be aware of any fees associated with the refinance and calculate whether the savings outweigh these costs.

•   Lender reputation: Research the lender’s reputation and customer service to ensure you’re working with a reliable and supportive institution.

•   Borrower benefits: Consider the benefits offered by the lender, such as flexible repayment options, forbearance, or deferment.

Recommended: How Soon Can You Refinance Student Loans?

Refinancing Your Student Loans With SoFi

Refinancing student loans multiple times can be a strategic move to save money and better manage your debt. While there’s no limit to how many times you can refinance, it’s important to carefully consider the costs, benefits, and your financial goals each time.

Looking to lower your monthly student loan payment? Refinancing may be one way to do it — by extending your loan term, getting a lower interest rate than what you currently have, or both. (Please note that refinancing federal loans makes them ineligible for federal forgiveness and protections. Also, lengthening your loan term may mean paying more in interest over the life of the loan.) SoFi student loan refinancing offers flexible terms that fit your budget.

FAQ

Can I consolidate student loans more than once?

Typically, you can’t consolidate federal student loans into a Direct Consolidation Loan more than once. However, you may be able to do this if you have federal loans that were not included in a previous consolidation, or you previously consolidated loans under the Federal Family Education Loan (FFEL) consolidation program. Remember that federal consolidation does not lower your interest rate.

With private student loan consolidation, called refinancing, there is no limit on the number of times it can be done. Each refinance creates a new loan with new terms, so you’ll want to evaluate the benefits, interest rates, and any potential fees before deciding to refinance again.

How many times can you refinance a loan?

There is typically no set limit on how many times you can refinance a loan, including student loans. As long as you qualify, you can refinance your student loans as many times and as often as you’d like. Each refinance involves taking out a new loan to pay off the existing one, so it’s important to consider factors like interest rates, loan term, and any associated fees.

How many times can you take out student loans?

There’s no set limit on how many student loans you can take out, but the federal government and private lenders do impose lending limits based on dollar amount.

For federal student loans, there are annual and aggregate (lifetime) limits based on your degree level and dependency status. For private student loans, lenders set their own annual and aggregate student limits. Often, they will cover up to the annual cost of attendance minus other financial aid each year.

SoFi Student Loan Refinance
SoFi Student Loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891. (www.nmlsconsumeraccess.org). SoFi Student Loan Refinance Loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Public Service Loan Forgiveness, Income-Based Repayment, Income-Contingent Repayment, PAYE or SAVE. Additional terms and conditions apply. Lowest rates reserved for the most creditworthy borrowers. For additional product-specific legal and licensing information, see SoFi.com/legal.

SOSL-Q224-1920974-V1

Your age is a major factor in the investment strategy you choose and the assets you invest in. The investments someone makes when they’re in their 20s should look very different from the investments they make in their 50s.

Generally speaking, the younger you are, the more risk you may be able to tolerate because you’ll have time to make up for investment losses you might incur. Conversely, the closer you are to retirement, the more conservative you’ll want to be since you have less time to recoup from any losses. In other words, your investments need to align with your risk tolerance, time horizon, and financial goals.

Most important of all, you need to start saving for retirement now so that you won’t be caught short when it’s time to retire. According to a 2024 SoFi survey of adults 18 and older, 59% of respondents had no retirement savings at all or less than $49,999.

Here is some information to consider at different ages.

Investing in Your 20s

In your 20s, you’ve just started in your career and likely aren’t yet earning a lot. You’re probably also paying off debt such as student loans. Despite those challenges, this is an important time to begin investing with any extra money you have. The sooner you start, the more time you’ll have to save for retirement. Plus, you can take advantage of the power of compounding returns over the decades. These strategies can help get you on your investing journey.

Strategy 1: Participate in a Retirement Savings Plan

One of the easiest ways to start saving for retirement is to enroll in an employer-sponsored plan like a 401(k). Your contributions are generally automatically deducted from your paycheck, making it easier to save.

If possible, contribute at least enough to qualify for your employer’s 401(k) match if they offer one. That way your company will match a percentage of your contributions up to a certain limit, and you’ll be earning what’s essentially free money.

Those who don’t have access to an employer-sponsored plan might want to consider setting up an individual retirement account (IRA). There are different types of IRAs, but two of the most common are traditional and Roth IRAs. Both let you contribute the same amount (up to $7,000 in 2024 for those under age 50), but one key difference is the way the two accounts are taxed. With Roth IRAs, contributions are not tax deductible, but you can withdraw money tax-free in retirement. With traditional IRAs, you deduct your contributions upfront and pay taxes on distributions when you retire.

Strategy 2: Explore Diversification

As you’re building a portfolio, consider diversification. Diversification involves spreading your investments across different asset classes, such as stocks, bonds, and real estate investment trusts (REITs). One way twentysomethings might diversify their portfolios is by investing in mutual funds or exchange-traded funds (ETFs). Mutual funds are pooled investments typically in stocks or bonds, and they trade once per day at the end of the day. ETFs are baskets of securities that trade on a public exchange and trade throughout the day.

You may be able to invest in mutual funds or ETFs through your 401(k) or IRA. Or you could open a brokerage account to begin investing in them.

Strategy 3: Consider Your Approach and Comfort Level

As mentioned, the younger an individual is, the more time they may have to recover from any losses or market downturns. Deciding what kind of approach they want to take at this stage could be helpful.

For instance, one approach involves designating a larger portion of investments to growth funds, mutual funds or ETFs that reflect a more aggressive investing style, but it’s very important to understand that this also involves higher risk. You may feel that a more conservative approach that’s less risky suits you better. What you choose to do is fully up to you. Weigh the options and decide what makes sense for you.

Investing in Your 30s

Once you’re in your 30s, you may have advanced in your career and started earning more money. However, at this stage of life you may also be starting a family, and you likely have financial obligations such as a mortgage, a car loan, and paying for childcare. Plus, you’re probably still paying off your student loans. Still, despite these expenses, contributing to your retirement should be a top priority. Here are some ways to do that.

Strategy 1: Maximize Your Contributions

Now that you’re earning more, this is the time to max out your 401(k) or IRA if you can, which could help you save more for retirement. In 2024, you can contribute up to $23,000 in a 401(k) and up to $7,000 in an IRA. (If you have a Roth IRA, there are income limits you need to meet to be eligible to contribute the full amount, which is one thing to consider when choosing between a Roth IRA vs. a traditional IRA.)

Strategy 2: Consider Adding Fixed-Income Assets to the Mix

While you can likely still afford some risk since you have several decades to recover from downturns or losses, you may also want to add some fixed-income assets like bonds or bond funds to your portfolio to help counterbalance the risk of growth funds and give yourself a cushion against potential market volatility. For example, an investor in their 30s might want 20% to 30% of their portfolio to be bonds. But, of course, you’ll want to determine what specific allocation makes the most sense for your particular situation.

Strategy 3: Get Your Other Financial Goals On Track

While saving for retirement is crucial, you should also make sure that your overall financial situation is stable. That means paying off your debts, especially high-interest debt like credit cards, so that it doesn’t continue to accrue interest. In addition, build up your emergency fund with enough money to tide you over for at least three to six months in case of a financial setback, such as a major medical expense or getting laid off from your job. And finally, make sure you have enough funds to cover your regular expenses, such as your mortgage payment and insurance.

Investing in Your 40s

You may be in — or approaching — your peak earning years now. At the same time, you likely have more expenses, as well, such as putting away money for your children’s college education, and saving up for a bigger house. Fortunately, you probably have at least 20 years before retirement, so there is still time to help build your nest egg. Consider these steps:

Strategy 1: Review Your Progress

According to one rule of thumb, by your 40s, you should have 3x the amount of your salary saved for retirement. This is just a guideline, but it gives you an idea of what you may need. Another popular guideline is the 80% rule of aiming to save at least 80% of your pre-retirement income. And finally, there is the 4% rule that says you can take your projected annual retirement expenses and divide them by 4% (0.04) to get an estimate of how much money you’ll need for retirement.

These are all rough targets, but they give you a benchmark to compare your current retirement savings to. Then, you can make adjustments as needed.

Strategy 2: Get Financial Advice

If you haven’t done much in terms of investing up until this point, it’s not too late to start. Seeking help from financial advisors and other professionals may help you establish a financial plan and set short-term and long-term financial goals.

Even for those who have started saving, meeting with a financial specialist could be useful if you have questions or need help mapping out your next steps or sticking to your overall strategy.

Strategy 3: Focus on the Your Goals

Since they might have another 20-plus years in the market before retirement, some individuals may choose to keep a portion of their portfolio allocated to stocks now. But of course, it’s also important to be careful and not take too much risk. For instance, while nothing is guaranteed and there is always risk involved, you might feel more comfortable in your 40s choosing investments that have a proven track record of returns.

Investing in Your 50s

You’re getting close to retirement age, so this is the time to buckle down and get serious about saving safely. If you’ve been a more aggressive investor in earlier decades, you’ll generally want to become more conservative about investing now. You’ll need your retirement funds in 10 years or so, and it’s vital not to do anything that might jeopardize your future. These investment strategies by age may be helpful to you in your 50s:

Strategy 1: Add Stability to Your Portfolio

One way to take a more conservative approach is to start shifting more of your portfolio to fixed-income assets like bonds or bond funds. Although these investments may result in lower returns in the short term compared to assets like stocks, they can help generate income when you begin withdrawing funds in retirement since bonds provide you with periodic interest payments.

You may also want to consider lower-risk investments like money market funds at this stage of your investment life.

Strategy 2: Take Advantage of Catch-up Contributions

Starting at age 50, you become eligible to make catch-up contributions to your 401(k) or IRA. In 2024, you can contribute an additional $7,500 to your 401(k) for a total contribution of $30,500 for the year if you max out your plan.

In 2024, the catch-up contribution for an IRA is an additional $1,000 for a total maximum contribution of $8,000 for the year. This allows you to stash away even more money for retirement.

Strategy 3: Consider Downsizing

Your kids may be out of the house now, which can make it the ideal time to cut back on some major expenses in order to save more. You might want to move into a smaller home, for instance, or get rid of an extra car you no longer need.

Think about what you want your retirement lifestyle to look like — lots of travel, more time for hobbies, starting a small business, or whatever it might be — and plan accordingly. By cutting back on some expenses now, you may be able to save more for your future pastimes.

Investing in Your 60s

Retirement is fast approaching, but that doesn’t mean it’s time to pull back on your investing. Every little bit you can continue to save and invest now can help build your nest egg. Remember, your retirement savings may need to last you for 30 years or even longer. Here are some strategies that may help you accumulate the money you need.

Strategy 1: Get the Most Out of Social Security

The average retirement age in the U.S. is 65 for men and 63 for women. But you may decide you want to work for longer than that. Waiting to retire can pay off in terms of Social Security benefits. The longer you wait, the bigger your monthly benefit will be.

The earliest you can start receiving Social Security Benefits is age 62, but your benefits will be reduced by as much as 30% if you take them that early. If you wait until your full retirement age, which is 67 for those born in 1960 or later, you can begin receiving full benefits.

However, if you wait until age 70 by working longer or working part time, say, the size of your benefits will increase substantially. Typically, for each additional year you wait to claim your benefits up to age 70, your benefits will grow by 8%.

Strategy 2: Review Your Asset Allocation

Just before and during retirement, it’s important to make sure your portfolio has enough assets such as bonds and dividend-paying stocks so that you’ll have income coming in. You’ll also want to stash away some cash for unexpected expenses that might pop up in the short term; you could put that money in your emergency fund.

Some individuals in their 60s may choose to keep some stocks with growth potential in their asset allocation as a way to potentially avoid outliving their savings and preserve their spending power. Overall, people at this stage of life may want to continue the more conservative approach to investing they started in their 50s, and not choose anything too aggressive or risky.

Strategy 3: Keep investing in your 401(k) as long as you’re still working.

If you can, max out your 401(k), including catch-up contributions, in your 60s to sock away as much as possible for retirement. This can be especially helpful if you didn’t invest as much as you ideally should have at earlier ages. Contributing to your 401(k) could also help lower your taxable income now, when you may be in a higher income tax bracket than you were in previous decades.

Also, you can continue to contribute to any IRAs you may have — up to the limit allowed by the IRS, which is $8,000 in 2024, including catch-up contributions. If you have a Roth IRA, you will need to meet the income limits in order to contribute.

The Takeaway

Investing for retirement should be a priority throughout your adult life, starting in your 20s. The sooner you begin, the more time you’ll have to save. And while it’s never too late to start investing for retirement, focusing on investment strategies by age, and changing your approach accordingly, can generally help you reach your financial goals.

For instance, in your 20s and 30s you can typically be more aggressive since you have time to make up for any downturns or losses. But as you get closer to retirement in your 40s, 50s, and 60s, your investment strategy should shift and take on a more conservative approach. Like your age, your investment strategy should adjust across the decades to help you live comfortably and enjoyably in your golden years.

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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