Business
CORRECTING and REPLACING New SoFi Survey Reveals America's Top Financial Ambitions; Two-Thirds of Gen Z and Millennials Are Willing to Skip Dining Out for 5 Years to Retire by 50
To Accelerates Members’ Retirements, SoFi Invest Announces a 1% IRA Match on IRA Contributions SAN FRANCISCO--(BUSINESS WIRE)-- Please replace the release
About this update from Sofi Technologies, Inc.
[{"type":"text","content":"\nTo Accelerates Members’ Retirements, SoFi Invest Announces a 1% IRA Match on IRA Contributions\n\n\n SAN FRANCISCO--(BUSINESS WIRE)--\nPlease replace the release with the following corrected version due to multiple revisions in the Disclosures section.\n\n\nThe updated release reads:\n\n\nNEW SOFI SURVEY REVEALS AMERICA'S TOP FINANCIAL AMBITIONS; TWO-THIRDS OF GEN Z AND MILLENNIALS ARE WILLING TO SKIP DINING OUT FOR 5 YEARS TO RETIRE BY 50\n\n\nTo Accelerates Members’ Retirements, SoFi Invest Announces a 1% IRA Match on IRA Contributions\n\n\nSoFi, the all-in-one digital personal finance company, today announced SoFi Invest1 will offer a 1% match on all eligible IRA (individual retirement account) contributions2. This comes as a new survey3 also out from SoFi today unveils Americans' top financial ambitions including: creating or sustaining generational wealth, buying a house or owning property, buying a car, retiring early and sending kids to college.\n\n\nDesigned to help members plan for their retirement in order to achieve this top financial ambition, SoFi is introducing the 1% match on eligible IRA contributions to ensure members get more for their hard-earned money and feel more confident in their retirement plans. SoFi members can earn the IRA Match on all new IRA contributions from outside accounts as well as new contributions through ACH transfers.\n\n\nSoFi Invest complements this new IRA 1% match with a full suite of investing tools and educational resources to help members at every step of their financial journey, including access to credentialed financial planners, career planners and award-winning investment tools such as SoFi Active Invest and SoFi Automated Investing1.\n\n\nOther data in the survey reveals interesting sentiment and trends around retirement including:\n\n\n\nAlmost half (44%) of people feel like they are not making enough money to contribute to their retirement savings\n\n\n\nAlmost three-quarters (71%) of people would rather own a home compared to over one-quarter (28%) of people would rather retire by age 50\n\n\n\nMen are more likely than women to be saving for retirement (54% vs. 43%)\n\n\n\nOf those people saving, men are more likely to know what is in their savings account (55% vs. 44%)\n\n\n\nAnd the younger generations are willing to give up dining out for 5 years in order to retire by a...