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What Is a Pension Plan & How Does It Work?
https://www.sofi.com/learn/content/what-is-a-pension-plan/
A pension plan is a retirement plan offered by employers that guarantees income to workers after retirement. Pension plans are also known as defined-benefit plans because the monthly benefits the worker will receive during retirement is defined. When defining those benefits, a pension may offer an exact dollar amount to be paid in retirement, such […]
Leasing vs. Buying a Car: What’s Right for You?
https://www.sofi.com/learn/content/leasing-vs-buying-car/
So you’ve decided to get a new car. You’ve picked out everything from the color to the floor mats. But pump the brakes. Should you lease or buy? There are many factors to consider. Check out this overview of leasing vs. buying, plus get help deciding how to save for your next set of wheels. […]
Why Do I Have Different Credit Scores?
https://www.sofi.com/learn/content/why-do-i-have-different-credit-scores/
Every consumer has multiple credit scores. Why on earth is that? Because the major credit bureaus — Experian, Equifax, and TransUnion — may have slightly different credit information on any one person, and credit scoring models vary. Credit scores are an important financial metric to keep track of throughout the year. The three-digit number can […]
What to Do When Your CD Hits Maturity
https://www.sofi.com/learn/content/cd-maturity/
Opening a certificate of deposit (CD) account is one way to save for short- or long-term financial goals. You can deposit money, then earn interest for a set term until the CD maturity date rolls around. At that point, you’ll have to decide whether to continue saving or withdraw the money. Your bank may renew […]
Does Daylight Savings Time Cost the US Money?
https://www.sofi.com/learn/content/cost-of-daylight-savings-time/
In most parts of the United States, people move their clocks back by one hour in the fall and move them forward by one hour in the spring. Many people have been doing this their entire lives, yet they don’t fully understand it. Perhaps still worse, many don’t know just how expensive daylight savings time […]