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What is a 401(k) Profit Sharing Plan?

What is a 401(k) Profit Sharing Plan?

https://www.sofi.com/learn/content/profit-sharing-401k/

…traditional 401(k), maximum total contributions to an account must be the lesser of 100% of the employee’s salary or $66,000 a year in 2023 and $69,000 in 2024, per the…


Guide to 457 Retirement Plans

Guide to 457 Retirement Plans

https://www.sofi.com/learn/content/457-retirement-plan/

…plan through elective salary deferrals. These deferrals are made on a pre-tax basis, though some plans can also allow employees to choose a Roth option (similar to a Roth 401(k))….


5 Cash Management Strategies You Should Know

5 Cash Management Strategies You Should Know

https://www.sofi.com/learn/content/cash-management-strategies/

…Income includes your salary, bonuses, self-employed income, rental income, and all investment income including interest, dividends, and returns. For the purposes of cash flow budgeting, you want to work with…


What Are the Different Types of Income?

What Are the Different Types of Income?

https://www.sofi.com/learn/content/types-of-income/

…passive income. (We’ll go through these variations in more detail in a minute.) People who are paid a salary may tend to think that their annual paycheck earnings are their…


What Do You Need to Buy a House?

What Do You Need to Buy a House?

https://www.sofi.com/learn/content/what-do-i-need-to-buy-a-house/

…But the truth is, you don’t need a particular down payment amount, salary, or a credit score over 700 to become a homeowner. What you do need is insight into…


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