Saturday,
February 3, 2024

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Top Story

The week in review

•   The Fed left rates unchanged for the fourth time in a row, emphasizing that it is not yet ready to start cutting rates. Chairman Powell added that it’s unlikely to reach the required level of confidence to cut rates in March.

•   Americans’ personal incomes rose 0.3% in December, but personal spending rose more at a 0.7% month-over-month bump, outpacing estimates.

•   The number of Americans filing for unemployment increased for the second week in a row to its highest level since mid-November. Continuing claims, which measure jobless aid applications for at least two consecutive weeks, also rose to their highest level since November.

For more economic news, visit On the Money — SoFi’s one-stop-shop for news, trends, and tips!

What is alternative investing?

Investing is about much more than just stocks and bonds. Alternative investments, for example, are different from these traditional investment types.

Some of the biggest alternatives out there are real estate, private investments (such as private equity or private credit), and commodities. Want to invest in some farmland? That’s alternative investing. Planning to buy gold bars? Same story.

One key characteristic of alts? They tend to be less correlated with the stock market. That means they can help diversify an investment portfolio, potentially helping to hedge against inflation or interest rate fluctuations.

However, most alternative investments are also illiquid, meaning you likely can’t pull your money out of them as quickly. This is especially true in comparison to more conventional securities like stocks and bonds. Like with all investments, it’s important to keep in mind your own risk tolerance before making your investing decision.

Check out SoFi’s Guide to Alternative Investments to learn more


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This week’s top stories

The Bank of Mom and Dad remains open for business
Financial independence is hard to come by for some young adults, with some 60% of parents saying they provide some financial support for their adult kids.
Read more >>

Baby boomers aren’t downsizing — and younger homebuyers are paying for it
The high cost of smaller accommodations, interest rates, and potentially high tax bills are keeping baby boomers in their home. That’s bad news for the housing market.
Read more >>

How Houston cracked the affordable housing code
Could the key to fixing affordable housing be as simple as tweaking zoning policy? Some seem to think so, and Houston’s got the receipts.
Read more >>

Deep dives from SoFi Learn

Data security 101: tips to keep your data safe online
Identity theft is on the rise but there are ways to protect yourself. Here are 11 cyber security tips to stay safe.
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Bitcoin ETFs are here. This is what you need to know
The SEC approved a new type of crypto ETF tracking bitcoin prices earlier this month. Curious about crypto? Learn what these funds are all about.
Read more >>

What to know before investing in currencies
Foreign currency isn’t just what you encounter on vacation. You can invest in it, too. Here’s what you need to know.
Read more >>

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