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The economic rollercoaster of the past few years has younger Americans reconsidering their investing priorities.

Playing a year with a lot of uncertainty right requires a portfolio that allows for both offense and defense.

Deciding to spend your life with someone is a big deal, both emotionally and financially. After all, tying the knot means you will likely pool your incomes to create shared finances.

If that’s the case for you, it might be worth thinking about the costs associated with getting married together. Engagement rings can be expensive, for example, so if you’re planning to get hitched, have a conversation about what budget is right for you as a couple.

Once you’re engaged, the real planning begins. Maybe you’re getting help from your families in paying for your wedding. But there are hidden costs that are easily overlooked, such as rehearsal dinners, bachelor or bachelorette parties, and tips for staff at the end of the big day.

So how much does a wedding cost on average? Half of the people asked in a SoFi survey said they spent less than $10,000 on their ceremony and reception. Overspending on the big day was also the number one regret, with 15% of survey respondents wishing they had spent less.

What’s More Romantic Than Budgeting Together?

Coming up with a budget of how much you want to spend in total early in the planning phase can help you start married life off on the right foot.

Budgeting might not sound like the most romantic thing to do, but it actually kind of is: You’re taking each other’s financial needs and wants into account, and that will never stop being important in your life together.

Saving for your big day can be easier if you automate monthly transfers to a separate account to collect wedding funds. And if you pick a high-yield savings account, your money can make money for you while you continue to plan and save.

If you’re thinking about financing your wedding in other ways, be sure to weigh the pros and cons, and thoroughly check out all of your options, which may range from credit cards to personal loans.

Check out SoFi’s high-yield savings account if you’re saving for your wedding, or SoFi’s personal loans if you need a little more help to get there.

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.
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Retirement. The idea of being done with work for good might be music to your ears. But thinking about how to fund the years after working is daunting for many.

The exact figure of how much money you’ll need for a comfortable retirement depends on many variables, including your lifestyle and where you live. A rule of thumb suggests you’ll likely spend about 80% of your working-life income in each year of your retirement.

It is also often said that $1 million in savings — from retirement plans to insurance policies, investments, and straight up cash — is a fair number to get you through retirement. Though everyone’s financial situation is unique.

Getting there requires planning, and incorporating saving for the future into your financial decision making today. It’s also the reason financial planners often tell you to get started as early as possible — it gives you more time to get to your goal amount, and might require fewer sacrifices along the way.

Here are some guidelines for how much you might want to consider saving.

Where Can I Maximize Retirement Life?

Planning for retirement isn’t only about saving your way to a comfortable figure in your accounts. It’s also about planning the ‘where’.

While some people might prefer the idea of staying in the home they have known for years, others plan to move to warmer climates or closer to family. But beware, a new zip code can come with a whole host of new challenges for your finances.

Being retired means living on a fixed income, as your savings are likely disbursed to you in monthly increments. So a central question for retirees is which parts of the country are affordable.

The top five most tax-friendly states for retirement are:

1.    Mississippi

2.    Tennessee

3.    Wyoming

4.    Nevada

5.    Florida

But there are other factors aside from the money that are worth considering, including access to high-quality medical care, resiliency when it comes to climate change, crime rates, and diversity.

Retirement is more than just the end of working life. It’s a whole new chapter.

Like SoFi’s content? Follow On the Money by SoFi on MSN.

SoFi’s retirement planning guide can help you start saving for retirement now. Investing for retirement earlier means you’ll be better prepared, whenever you choose to retire.

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.
Communication of SoFi Wealth LLC an SEC Registered Investment Adviser
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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