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Let’s face it — thinking about life insurance isn’t most people’s idea of a good time. Not only can insurance be dry and complicated, but the idea of death is pretty unsettling.

Still, no one wants to leave their loved ones unprepared, and life insurance is one of the worker benefits that many employers offer during the end-of-year open enrollment season.

That makes now a great time to learn more about it, especially if you are wondering whether getting coverage through work is right for you.

Choosing between term and whole life insurance

Term life insurance covers you for a set term, meaning period of time. It can be relatively simple to get and typically costs a lot less than whole life insurance, which covers you for the rest of your life and has additional financial benefits beyond a lump sum death benefit (we’ll get into this below).

But there’s a tradeoff: If you outlive your insurance term, you’re left with nothing to show for it. Plus, the term life insurance offered by many employers — known as group term life insurance — often covers workers just for the length of their employment, so if you change jobs, you may have to find new coverage.

Is your employer policy enough?

Employers that offer group term life insurance often provide a baseline benefit amount and pay all or most of the premium for you.

Since there’s little or no cost, and usually no medical evaluation or paperwork required, taking this coverage is one of the few no-brainers you’ll encounter in your benefit selection.

However, one of the big drawbacks to getting term life insurance through work could be a low benefit amount. More than half of employers who offer life insurance provide one year’s worth of pay or less, and just 2% offer more than two years’ worth, according to a 2023 study by Guardian Life.

Then the question becomes: Do you need to buy more coverage? There is no one-size-fits-all answer, but here are some ways to determine what your family will need if you aren’t around.

How much life insurance do you need?

Life insurance is meant to protect loved ones from financial disruption, so at a basic level, you want to think about replacing your income.

•  Some experts recommend getting coverage for at least 10 times your annual salary.

•  Or, you could multiply your annual salary by the number of years you have left before retirement.

•  Or you can add up a list of expenses. Some financial planners recommend carrying enough insurance to pay off all your debts (including a mortgage if you share a home with someone) and to support your spouse and dependents for one year after your death. Other considerations may include college tuition expenses for children, the cost of health insurance, replacing your 401(k) match, childcare expenses if your surviving spouse were to return to work, and the cost of replacing your contributions to the household (home maintenance, tax preparation.)

If it seems daunting, don’t stress. A life insurance calculator (here’s ours) can be a good place to start.

What about getting your own policy?

Leaving aside the affordability of getting coverage through your job, there’s no doubt buying your own life insurance policy gives you a lot more control.

You can choose the exact kind of coverage you want: term life, whole life, or universal life, which is another type of permanent coverage.

Permanent coverage, which is much less commonly offered by employers, comes with higher premiums. But it never expires, and it offers savings and investment options — and the ability to borrow against the cash value of your policy.

Here’s another consideration: Even if term life insurance makes the most sense for you, and your employer offers additional coverage at an extra cost, is that employer coverage the best option for you?

On the one hand, the employer’s group discount can make coverage more affordable. And you may be able to get a better deal if you’re older or have health problems.

On the other hand, there can be less flexibility to add a spouse to the policy or make other adjustments. And don’t forget employer-provided life insurance is linked to your job — and sometimes to full-time status. If you leave the job or cut back your hours, you could lose coverage.

Who might benefit from taking out term life insurance?

For people on a tight budget, term life insurance is the most affordable choice. You can use lower-cost term policies to cover your insurance needs and invest separately in an investment account, such as an Individual Retirement Account or workplace 401(k).

Generally speaking, term life insurance can be a good choice for people who are looking for protection until retirement, when a surviving spouse would inherit their retirement assets and Social Security survivor benefits. Or, would-be parents could consider their children’s graduation timeline when buying a term policy.

Who might benefit from taking out whole life insurance?

If you’re looking to reclaim some of the value of your premium payments, whole life may be a good option because policyholders can withdraw payments tax-free or take tax-free loans against the cash value.

Whole life insurance may also be a good choice for someone who fears a surviving spouse might run out of money in retirement.

Whether you opt for term life for its affordability and simplicity, or whole life for its lifelong coverage and financial benefits, the key is to ensure your coverage matches your family’s future financial needs. Remember, life insurance isn’t about you — it’s about providing for those you love when you’re no longer able to do so.

Coverage and pricing is subject to eligibility and underwriting criteria.

Ladder Insurance Services, LLC (CA license # OK22568; AR license # 3000140372) distributes term life insurance products issued by multiple insurers- for further details see ladderlife.com. All insurance products are governed by the terms set forth in the applicable insurance policy. Each insurer has financial responsibility for its own products.

Ladder, SoFi and SoFi Agency are separate, independent entities and are not responsible for the financial condition, business, or legal obligations of the other, SoFi Technologies, Inc. (SoFi) and SoFi Insurance Agency, LLC (SoFi Agency) do not issue, underwrite insurance or pay claims under LadderlifeTM policies. SoFi is compensated by Ladder for each issued term life policy.

By selecting Get a Free Quote, you agree to Ladder sharing with SoFl information about any insurance application you submit and any policy you may obtain SoFi Technologies, Inc.(“SoFi”) will be paid by Ladder when a policy is issued to customers through this SoFi Protect link.

Ladder offers coverage to people who are between the ages of 20 and 60 as of their nearest birthday. Your current age plus the term length cannot exceed 70 years.

All services from Ladder Insurance Services, LLC are their own. Once you reach Ladder, SoFi is not involved and has no control over the products or services involved. The Ladder service is limited to documents and does not provide legal advice. Individual circumstances are unique and using documents provided is not a substitute for obtaining legal advice.

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

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If you don’t complete your SoFi Plus enrollment within 31 days of funding these select loans, you won’t be eligible for the rate discount, and it can’t be applied retroactively.

A Shutdown to Trump All Others

The federal government officially entered a shutdown at 12:01 a.m. ET on Oct. 1, the 11th such event involving furloughs in U.S. history. As usual, the lapse in federal funding stems from partisan politics. The shutdown is on track to become the longest government shutdown in U.S. history, surpassing the 35-day record set in 2018-19.

The human and economic costs are vast and grow more severe the longer they last.
The Bipartisan Policy Center estimates that 670,000 federal employees have been furloughed, while another 730,000 are required to work without pay. Exact figures are hard to pin down, but consensus suggests that shutdowns lower GDP by 0.1 to 0.2 percentage points for every week they go on.

It’s already lasted over four weeks, and betting markets suggest roughly even odds that the shutdown lasts somewhere between 45 and 50 days, which would bring us to mid-November — a little over a week before Thanksgiving. Though shutdowns have historically had a limited and temporary impact on the stock market, the longer this one lasts, the harder it is to imagine it not being consequential.

How Many Days Will the Government Be Shut Down This Year?

Euphoria: Earned or Borrowed?

Last month, while Washington grappled with internal dysfunction (what’s new?), the market was focused on other things.

Trade tensions with China briefly ratcheted higher when President Trump threatened the country with an additional 100% tariff. Stocks initially fell sharply on the news, but two things may have led to a fairly quick reversal. First, Trump began to walk back the threat in a move reminiscent of TACO summer. Perhaps more importantly, however, earnings season began, and the results were mostly stellar. This helped offset macroeconomic uncertainty and reinforced the powerful narrative around artificial intelligence, which has driven investor optimism all year long.

The strength of Q3 2025 earnings season was evident. With nearly half of S&P 500 companies reporting in October, 82.8% reported higher-than-expected earnings per share, substantially above the 5-year and 10-year averages of 78.6% and 76.3%, respectively. If sustained for the rest of the Q3 earnings season, that would mark the best performance since the second quarter of 2021.

Alongside this fundamental strength, the market turned notably speculative. Lower quality and higher beta stocks surged, with investors increasingly willing to chase momentum in a possible sign of fear of missing out (FOMO).

% of Companies With Positive EPS Surprises

Market Recap

Asset Returns

October 2025 Sector Total Returns

Macro

•  Federal funding lapsed on October 1, the start of the fiscal year, leading to the U.S. government shutting down.

•  The Federal Reserve lowered its benchmark interest rate by 25 basis points to a target range of 3.75%-4%. Two dissents to the decision were noted, with one official preferring a 50 basis point cut and the other preferring no cut.

•  The Fed also announced it would end balance sheet runoff on December 1, reinvesting any proceeds from maturing Treasurys and mortgage-backed securities into Treasury bills.

•  The September Employment Situation Report, in addition to most official economic data, was not released due to the ongoing government shutdown.

•  September CPI came in at 0.3% m/m and 3.0% y/y, the highest annual rate since January.

•  In one of its most volatile months ever, gold rose 14.3% to $4,381 on October 20 and then proceeded to decline 11.3% to $3,886 on October 28, before ending the month up 3.7%.

Equities

•  With over 65% of the S&P 500 having reported results, the earnings surprise rate stands at 8.6%, in-line with the five-year average.

•  The Information Technology sector beat the broader market by 3.9 percentage points, its sixth month of outperformance in the last seven.

•  Emerging market stocks rose 4.2% despite dollar appreciation, powered by strong tech sector gains from Taiwan and South Korea.

•  Cyclical stocks underperformed defensives by 2.1 percentage points through October 22, before then outperforming by 4.3 percentage points and finishing the month ahead, the sixth consecutive such month.

Fixed Income

•  Though High Yield corporate bond spreads ended the month at 267 basis points (exactly where they began the month), they briefly widened to 304 basis points on October 10 after President Trump’s 100% tariff threat on China.

View PDF

Performance data quoted represents past performance. Past performance does not guarantee future results. Market returns will fluctuate, and current performance may be lower or higher than the standardized performance data quoted.

Communication of SoFi Wealth LLC an SEC Registered Investment Adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov. Mario Ismailanji is a Registered Representative of SoFi Securities and Investment Advisor Representative of SoFi Wealth. Form ADV 2A is available at www.sofi.com/legal/adv.

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We all have first-hand knowledge of how expensive groceries have gotten. But if you’re trying to save money, is it still more budget-friendly to eat at home?

It’s an interesting question, given that grocery prices have actually gone up twice as fast as menu prices the past two months, according to the Consumer Price Index. That’s a flip on the usual script, since restaurant prices tend to rise faster than grocery prices, reflecting the labor costs that go into food preparation and service. At the moment, however, the impact of new tariffs on imports seems to be most visible in the supermarket data.

But, yes, preparing your own food is still the more affordable option — and can save you a lot.

The cost of an average meal for one adult male eating at home runs $3.40 to $5.19, according to the latest USDA food-cost tables. The average restaurant meal, on the other hand, probably costs at least twice that if you go the fast-food route, and could easily run you $30 to $50, depending on where you go and what you order.

Think of a family of four who eats out twice a week. If they’re spending $5 per person to eat at home, that’s $20 per meal. But if they’re spending $20 per person to eat out, that’s $80 a meal — a $60 difference. That means forgoing one dinner out a week could save about $260 a month, or over $3,100 a year.

So what? Food overall — at home and out — is Americans’ third largest expense, behind only housing and transportation. But in an economy where so many costs feel out of our control, where we eat can have a big impact on our bottom line.

At the end of the day, regardless of whether grocery inflation is outpacing restaurant inflation, there’s a big cost difference. (And it’s worth noting that taking a longer view, grocery prices rose 2.7% in the 12 months through September, less than the 3.7% increase in restaurant prices.)

Preparing your own meals remains one of the best ways to cut costs month in and month out. To help ease your burden at the supermarket, shop store brands, explore vegetarian options to avoid pricey meat (we’re looking at you, beef,) and look for new ways to stretch leftovers and reduce food waste.

Related Reading

Grocery Inflation Hacks: How to Fill Your Fridge for Less (SoFi)

How to Eat Healthy on a Budget: 17 Tips (NerdWallet)

26 Tips to Spend Less When You Dine Out at Restaurants (The Penny Hoarder)

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

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If your Italian getaway or summer road trip feels like years ago, your next big trip probably can’t come soon enough. But should you travel in this unpredictable economy, when you’re trying to save money?

Only you know what feels right for your budget, but there are cost-conscious travel options. Whether you’re considering a romantic getaway, a solo adventure, or a family vacation over the holidays, here are five ways to keep your expenses in check.

1. Be flexible with your schedule. Traveling when others aren’t can be a great way to lower your costs (and avoid crowds.)

•   Go abroad during Thanksgiving week: This year fares to Western Europe, Canada, and Western Asia are down 10% to 30%, according to Going, a subscription travel site for bargain hunters.

•   Fly on a holiday: Fares tend to be lower if you’re willing to fly on Thanksgiving, Christmas Eve or Christmas Day itself, according to Going.

•   Fly midweek: Flights on the weekend can sometimes cost more, though it’s not a hard-and-fast rule.

•   Explore the other shoulder season: Shoulder season is often just before or after the pricey summertime peak, when the weather is still nice but school is in session, so fewer people are taking trips. But if you ski or snowboard (or just want a cozy weekend away) some resorts may have a third shoulder season in January-February, when holiday travel is over but students and families aren’t yet thinking about spring break.

•   Go with the flow: Airlines often have low-fare calendars where they show you the cheapest dates to fly with them.

2. Tap into Travel Tuesday. Black Friday isn’t just about shopping deals. Pounce on any Thanksgiving-weekend travel sales, which in recent years have extended to not just Cyber Monday but Travel Tuesday. Just make sure you’ve researched the going rates on potential destinations so you can capitalize quickly when you see a discount.

3. Sleep cheaper. A classic Airbnb rental can easily be more expensive than a hotel, but it may be worth exploring the Airbnb “private room” route, where you’d get your own access to one area of someone else’s house or apartment. This option won’t give you the same run of the place, but according to research from Upgraded Points, the average private room Airbnb was cheaper than the average hotel in every U.S. city they analyzed. (And, it may still be worth exploring renting an entire home, depending on how much you’d save by cooking your own food.)

If you have time to plan, you may also want to consider arranging an apartment or home swap through an outfit like Intervac. A stay might also include borrowing the homeowner’s vehicle or even exchanging pet-sitting duties.

4. Mix steals with splurges. If you go whole hog on tickets for musical theater or a famous amusement park, offset those expenses with free activities on other days of your vacation. Even some of the world’s spendiest cities have great no-cost options like walking tours, farmer’s markets, or museums. For example, the Brooklyn Botanic Garden in New York welcomes visitors on “​​Pay-What-You-Wish Winter Weekdays,” and London has more than 25 museums with free admission.

5. Leverage loyalty. Using travel points and miles you’ve earned on your credit card may be a no-brainer, but members of hotel and airline loyalty programs often get other less-obvious perks too. Even if your points balance is looking meager, you may be able to get hotel freebies like late checkout, free parking, or room upgrades.

(If you’re a SoFi Plus member, you can earn rewards for booking through SoFi Travel, our Expedia-powered travel portal.)

SoFi Travel: Terms, and conditions apply. This SoFi member benefit is provided by Expedia, not by SoFi or its affiliates. SoFi may be compensated by the benefit provider. Offers are subject to change and may have restrictions, please review the benefit provider’s terms: Travel Services Terms & Conditions.

SoFi Plus: SoFi Plus is a premium membership that gives members access to our best APY, discounts, rewards, and more when they set up Eligible Direct Deposit or pay the SoFi Plus Subscription Fee. Benefits are subject to change and may not be available to everyone. All terms and conditions applicable to the use of SoFi Plus apply. To learn more about SoFi Plus and available benefits and terms, please see the SoFi Plus page.

SoFi Plus members can earn 5% cash back in rewards points on all bookings except air travel through SoFi Travel using any card (“Elevated Earn”). For complete SoFi Plus eligibility, please see the SoFi Plus terms.

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.

SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

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