2607 Search Results
401(k) Catch-Up Contributions: What Are They & How Do They Work?
https://www.sofi.com/learn/content/401k-catch-up/
Retirement savers age 50 and older get to put extra tax-advantaged money into their 401(k) accounts beyond the standard annual contribution limits. Those additional savings are known as “catch-up contributions.” If you have a 401(k) at work, taking advantage of catch-up contributions is key to making the most of your plan, especially as retirement approaches. […]
What Are Digital Wallets?
https://www.sofi.com/learn/content/types-of-digital-wallets/
Digital wallets, also called electronic wallets or e-wallets, are apps that allow you to store debit, credit, and gift card details on your device so you can easily make payments. They can keep this information securely on smartphones, laptops, tablets, and even wearables. In this way, digital wallets can enable safe, efficient, and fast transactions […]
How Many Bank Accounts Should I Have?
https://www.sofi.com/learn/content/having-multiple-bank-accounts/
There is no one-size-fits-all answer to how many bank accounts you should have. The answer will likely be, “It depends”. Your personal and financial situation and goals will impact whether you have just one or two accounts or several of them with different purposes. For example, a recent college grad who is just entering the […]
Can You Get a Student Loan for Summer Classes?
https://www.sofi.com/learn/content/student-loan-for-summer-classes/
Want to squeeze in a couple of classes this summer but not sure how to pay for them? You have several options, including federal and private student loans. The summer loan application process is generally the same as it is for the regular academic year. But the federal government limits how much you can borrow, […]
What Are Round-Up Savings?
https://www.sofi.com/learn/content/what-are-round-up-savings/
Round-ups are an automatic savings tool that rounds up purchase prices to the nearest dollar. The difference between that somewhat higher figure and the actual price then gets deposited into a savings or investment account.One of the key benefits of this savings technique is that it’s effortless. The money accrues without your doing any calculations […]