SoFi Blog

Feeling like you’re stretched thin by college tuition costs? You’re not alone. The annual cost of a four-year public college education for residents is $20,770 .

That’s just one year. Ouch. Many parents are trying to balance daily expenses, retirement savings, and college costs at the same time and it can be a struggle. Some may even be prioritizing college payments over retirement contributions, a practice most financial advisors advise against.

While students can take out loans to fund their education, a parent might only have a retirement account to fall back on. Parents can be so worried about paying college costs that they may even be tempted to pull from their 401(k) for their child’s college, which can lead to unfortunate tax situations.

There are better ways to find the best retirement strategy for 50-year-old parents while still pulling together cash for college. In fact, here are eight ways to uncover hidden money.

The air is crisp, the leaves are changing—it’s time for jack-o-lanterns, spiderwebs, witches, horror movies and…Halloween! As all things spooky enter the spotlight, there’s no better time to face your fears. And if investing is one of them, we’re here to let you know that investing doesn’t have to be scary.

In one survey, SoFi found that 56% of millennial women say that fear holds them back from investing. But investing, as part of an overall financial plan, can help you grow your wealth. When armed with the proper information and assistance you can conquer your stock market fear. That way you have more time for Halloween costumes, candy, and trick-or-treating.

Admit it. You love Halloween.

And what’s not to love with all the spooky costumes, festive parties, eerie decorations and killer candy assortment? But, one downside—besides the calories—is the cost to do it all just right. Fortunately, there are plenty of tips and tricks you can use to maximize the enjoyment of this holiday while minimizing the expenses.

You’ve got your eye on a big purchase, something you’ve dreamed of owning. So, now what? How do you know when it’s the right time to buy an item that isn’t really a necessity? Well, the first step is to evaluate your current financial situation, including how much money you have in your savings and investment accounts, and the bills you currently owe. Are there any significant expenses you anticipate coming soon? Do you expect any negative impacts on your finances in the predictable future?

If a review of your finances suggests that, yes, it’s reasonable to consider splurging on a big purchase, then it makes sense to determine how you can save money to get the best deal possible.

In this post, we’ll get into money-saving tips, tricks, and hacks to help you save money when buying a car, getting engaged, planning your wedding, going on a cruise, or buying a boat. We’ll also show you how using SoFi Invest can help position you so that you can potentially afford the purchases of your dreams.

If you’ve longed to pair your professional expertise with a cause that’s close to your heart, applying for a job within the nonprofit sector may seem infinitely appealing.

Focused on a social cause-driven mission rather than financial gain, nonprofit careers offer an opportunity to earn a living while working toward a shared philanthropic goal. Whether you’re committed to climate change, education, healthcare, or another worthy endeavor, chances are you’ll find an opening that matches your skill set, as many careers in nonprofit organizations mirror those in the for-profit arena.

From coveted executive director positions to critical roles in accounting or marketing, finding a spot that allows you to demonstrate and develop your talents shouldn’t be too difficult. But are you ready to make the move?