FEATURED BLOG POST

Millennials Are Seeking Prenups—and It Might Just Be Worth Considering

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gender wealth gap, women, investing

Women and Investing: The Gender Wealth Gap Nobody Talks About

You’ve probably heard the stats about the gender pay gap in America: Women today earn $0.81 for every dollar that men do—which, over the course of a career, can means hundreds of thousands of lost wages.

Here at SoFi, we want to do everything we can to help you attain everything you’re entitled to. Sometimes, that means researching your market value and asking your employer for more. Other times, it might mean looking for a new role, with higher pay and more opportunity for advancement.

But there’s something else you can do to close the gender wage gap—something that might be even more powerful.

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Majority of Millennial Women Have Money to Invest—But Fear Holds Them Back

Studies show millennial women have enormous power—when it comes to spending, that is. But what about when it comes to building wealth, like saving and investing toward the future? To figure that out, SoFi teamed up with Levo to survey 2,050 millennial women on their behaviors and motivations around financial habits, with intriguing results.

Millennials get a bad rap when it comes to personal finance. They’re often labeled as unprepared for the future or emergencies because they don’t save enough, if anything at all. However, of the women surveyed, 53% have an emergency savings fund set aside (covering three to six-plus months of housing and necessities). And they don’t just keep their money under the bed: 70% review their bank accounts at least once a week. These findings indicate millennial women are much more financially responsible than they’re given credit for, in that they are savers and have cash flow to invest.

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We’ve Made Some Changes to Your Wealth Portfolio. Here’s What You Need to Know.

At SoFi Wealth, our mission is simple: We want to help you make the smartest investment decisions possible so that you can continue on the path to your goals.

That’s why we constantly monitor the market, the economy, and your personal Wealth portfolio. Each month we discuss the economy, update our forecasts based on what the market is doing, and every now and then tweak the allocations within our member portfolios. This is one of those times.

Below, we’re sharing the updates we’ve made to all five risk strategies: Conservative, Moderately Conservative, Moderate, Moderately Aggressive, and Aggressive. When it comes to your investments, we always want to be transparent and keep you in the loop about adjustments that we’re making to help your money grow.

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5 Steps to Investing in Your 401k Savings Account

Investing for retirement can seem daunting. With so many retirement plan options, and even more jargon that comes with the territory, it’s no wonder people can start to feel anxious when figuring out how to invest in their 401(k) properly. Luckily, the first step is easy—all you have to do is start saving your money and putting it in a retirement account.

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