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862 Search Results

862 Search Results

Roth 401(k) vs Traditional 401(k): Which Is Best for You?

Roth 401(k) vs Traditional 401(k): Which Is Best for You?

https://www.sofi.com/learn/content/roth-401k-vs-traditional-401k/

…$90,000 in contributions and $10,000 in taxable gains, the gains represent a 10% of the account. Therefore, if you took a $20,000 early withdrawal, you’d owe taxes on 10% to…


Which Student Loans to Accept or Turn Down

Which Student Loans to Accept or Turn Down

https://www.sofi.com/learn/content/should-you-accept-subsidized-and-unsubsidized-student-loans/

…which no more than $23,000 can be in subsidized loans. For dependent undergraduates whose parents can’t obtain PLUS loans, the limit is $57,500, of which no more than $23,000 can…


Setting Up a Retirement Account for Your Child

Setting Up a Retirement Account for Your Child

https://www.sofi.com/learn/content/setting-up-retirement-for-children/

…2023, the IRA contribution limit is $6,500. If you’re 50 or older, you can add another $1,000 to help you catch up for retirement. The same rules apply to custodial…


Reverse Mortgage Interest Rates: What Are They?

Reverse Mortgage Interest Rates: What Are They?

https://www.sofi.com/learn/content/reverse-mortgage-interest-rates/

…Annual percentage rate (APR) 9.080% to 9.502% N/A Margin N/A 1.750 to 2.500 Lending Limit $1,209,750 $1,209,750 Sources: All Reverse Mortgage, Inc. and MLS Reverse Mortgage The margin is the…


What Is 401(k) Matching and How Does It Work?

What Is 401(k) Matching and How Does It Work?

https://www.sofi.com/learn/content/how-401k-matching-works/

…of $50,000, contributing 3% of their salary (or $1,500) to a 401(k). Let’s also say they keep making $50,000 and contributing 3% every year until they’re 65. They will have…


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