SoFi Accelerates Retirements With 2% Match On IRA Contributions
January 04 2024 - 9:37AM
Business Wire
SoFi Invest is making Tax Day a day to love,
not dread, with a 2% match on all eligible IRA contributions
through Tax Day 2024
SoFi, the all-in-one digital personal finance company, today
announced SoFi Invest will offer a 2% match on all eligible IRA
(individual retirement account) contributions through Tax Day
(April 15, 2024)¹. This new offer doubles the previously announced
1% IRA match offered in late 2023, and empowers SoFi Invest members
to make the most of their IRA contributions and accelerate their
retirement savings during tax season. With the newly increased
match available throughout tax season, SoFi is helping turn tax day
anxiety and tax day excitement.
SoFi members can earn the IRA match on all new ACH transfers
into IRA accounts.
Reaching Investment & Retirement Goals
The SoFi Midyear Investor Report 2023 found that more than half
of investors report feeling they haven’t invested enough at this
point in their lives. Specifically, Gen X’ers feel the most
underinvested, followed by Millennials and Gen Z.
With investors feeling anxious around their investment totals so
far and tax season traditionally being one of dread, SoFi Invest’s
2% IRA match helps to close that gap and offer SoFi members more
investment choices as they kick off their 2024 financial plans.
SoFi Invest: Today, Tomorrow & Retirement
SoFi Invest complements this newly doubled IRA match with a
broad suite of investing tools and educational resources to help
members at every step of their financial journey. In addition the
latest match and SoFi’s Active Invest³ and Automated Investing³
offerings, SoFi Invest is improving access to planning and invest
for people’s financial futures with:
- Complimentary access to Certified Financial Planners™ (CFPs)⁴,
offering members personalized advice for their individual goals and
needs
- Fractional share trading⁵, which makes it possible for any
investor to own part of a stock from their favorite company and
grow their portfolio based on how much they have to invest vs.
being able to buy an entire share at once
- Educational articles on investing, financial planning,
retirement and more
About SoFi
SoFi (NASDAQ: SOFI) is a member-centric, one-stop shop for
digital financial services on a mission to help people achieve
financial independence to realize their ambitions. The company's
full suite of financial products and services helps its more than 7
million SoFi members borrow, save, spend, invest, and protect their
money better by giving them fast access to the tools they need to
get their money right, all in one app. SoFi also equips members
with the resources they need to get ahead – like career advisors,
Certified Financial Planner™ (CFP®) professionals, exclusive
experiences and events, and a thriving community – on their path to
financial independence.
SoFi innovates across three business segments: Lending,
Financial Services – which includes SoFi Checking and Savings, SoFi
Invest, SoFi Credit Card, SoFi Protect, and SoFi Insights – and
Technology Platform, which offers the only end-to-end vertically
integrated financial technology stack. SoFi Bank, N.A., an
affiliate of SoFi, is a nationally chartered bank, regulated by the
OCC and FDIC and SoFi is a bank holding company regulated by the
Federal Reserve. The company is also the naming rights partner of
SoFi Stadium, home of the Los Angeles Chargers and the Los Angeles
Rams. For more information, visit SoFi.com or download our iOS and
Android apps.
DISCLOSURES
INVESTMENTS ARE NOT FDIC
INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
1. Terms and conditions apply. Only offers made via ACH are
eligible for the match. ACATs, wires, and rollovers are not
included. For more details visit sofi.com/iramatchterms/
2. The SoFi Invest Midyear Investing Report findings are based
on an online survey of 3,448 consumers conducted by SoFi Invest in
the U.S. between June 30 – July 10, 2023.
3. SoFi Invest refers to the two investment and trading
platforms operated by Social Finance, Inc. and its affiliates
(described below). Individual customer accounts may be subject to
the terms applicable to one or more of the platforms below.
1) Automated Investing and advisory services
are provided by SoFi Wealth LLC, an SEC-registered investment
adviser (“SoFi Wealth”). Brokerage services are provided to SoFi
Wealth LLC by SoFi Securities LLC.
2) Active Investing and brokerage services
are provided by SoFi Securities LLC, Member
FINRA(www.finra.org)/SIPC(www.sipc.org). Clearing and custody of
all securities are provided by APEX Clearing Corporation.
For additional disclosures related to the SoFi Invest platforms
described above, including state licensure of SoFi Digital Assets,
LLC, please visit SoFi.com/legal.
Neither the Investment Advisor Representatives of SoFi Wealth,
nor the Registered Representatives of SoFi Securities are
compensated for the sale of any product or service sold through any
SoFi Invest platform. Information related to lending products
contained herein should not be construed as an offer or
pre-qualification for any loan product offered by SoFi Bank,
N.A.
4. Certified Financial Planner Board of Standards Inc. (CFP
Board) owns the certification marks CFP®, CERTIFIED FINANCIAL
PLANNER™, CFP® (with plaque design), and CFP® (with flame design)
in the U.S., which it awards to individuals who successfully
complete CFP Board's initial and ongoing certification
requirements.
5. There are limitations with fractional shares to consider
before investing. During market hours fractional share orders are
transmitted immediately in the order received. There may be system
delays from receipt of your order until execution and market
conditions may adversely impact execution prices. Outside of market
hours orders are received on a not held basis and will be
aggregated for each security then executed in the morning trade
window of the next business day at market open. Share will be
delivered at an average price received for executing the securities
through a single batched order. Fractional shares may not be
transferred to another firm. Fractional shares will be sold when a
transfer or closure request is initiated. Please consider that
selling securities is a taxable event.
SOFI-F
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Melanie Garvey, mgarvey@sofi.org
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