Can You Withdraw Money From an Annuity? | SoFi
Annuity contracts are designed to provide retirement income. Retirees can withdraw money from an annuity, or take early withdrawals, but terms vary. Learn more.| SoFi
If you have imperfect credit or a limited credit history and need to finance an automobile purchase, you may qualify for a subprime auto loan. These loans are relatively risky for lenders to take on, so they may carry less favorable interest rates, and lenders may require you to provide additional information about your finances. […] The post Subprime Auto Loans, Explained appeared first on SoFi.| SoFi
If you need access to a set of wheels for a short period of time, say for a temporary job assignment, school, or a family situation, a short-term car lease may be a good option. Leasing a car for one or two years can be less costly than a long-term car rental and offers more […] The post Everything You Need to Know About Short-Term Car Leases appeared first on SoFi.| SoFi
It’s possible to trade in a car that you still owe money on. However, whether or not you should do so is a different matter. The process can be a bit complicated, and whether it makes sense will depend largely on how much your car is worth and how much you still owe on your […] The post Should You Pay Off Your Car Before Trading It In? appeared first on SoFi.| SoFi
Hybrid vehicles may be better for the environment than traditional cars, and because they don’t use as much gas, they can be easier on your wallet. However, there are certain costs associated with a hybrid vehicle that may come as a shock to some consumers. For one, hybrid car batteries typically cost between $2,000 and […] The post How Much Is a Hybrid Car Battery Replacement? appeared first on SoFi.| SoFi
Getting out of a car loan can be a tough decision, but it’s often necessary if your financial situation changes or the loan becomes unaffordable. Whether you’re dealing with high monthly payments, unexpected expenses, or negative equity, there are options to address the issue. From selling the vehicle to refinancing or negotiating with your lender, […] The post How to Get Out of a Car Loan appeared first on SoFi.| SoFi
By getting a car loan with a 0% annual percentage rate (APR), you’ll avoid paying interest or fees on your loan. This can feel like scoring a great deal from your lender, but know that they don’t give away something for nothing. To get one of these offers, you’ll usually need excellent credit, proof of […] The post 0% APR Car Loan: How Can You Get One? appeared first on SoFi.| SoFi
A car title is a key piece of documentation that shows who owns the vehicle as well as identifying information about the vehicle. The title will typically list the lender or lienholder if you’re repaying a car loan. In most states, the title is held by the lienholder until you finish paying off the car […] The post What Is a Car Title? All You Need to Know appeared first on SoFi.| SoFi
Car depreciation is something you may not think about until it’s time to refinance, sell, or trade in your vehicle. Even once you consider the concept, it can be confusing. What is vehicle depreciation and how does it impact you, as the owner of the car? Do all cars depreciate in the same way? Car […] The post Guide to Car Depreciation appeared first on SoFi.| SoFi
Most cars come with air conditioning as a standard part of the trim package. Car A/C systems can be relatively expensive, as they have to be capable of cooling your car from relatively high temperatures in a short period of time. One critical, and particularly pricey, component of the A/C system is the A/C compressor. […] The post How Much Does a Car A/C Compressor Cost? appeared first on SoFi.| SoFi
Your timing belt is critical to your engine’s ability to run properly. If it breaks, your engine will stop running immediately and there will likely be damage to other components. That’s why replacing your timing belt is part of regularly scheduled maintenance every 60,000 to 100,000 miles. Replacement costs can run between $800 and $1,300 […] The post How Much Does a Timing Belt Replacement Cost? appeared first on SoFi.| SoFi
Annuity contracts are designed to provide retirement income. Retirees can withdraw money from an annuity, or take early withdrawals, but terms vary. Learn more.| SoFi
What is the S&P 500 index? An exploration into the popular market index, along with a look at ways to invest in the S&P 500.| SoFi
A death benefit is a lump sum payment beneficiaries receive when the owner of a life insurance policy dies. Here are a few other things you should know.| SoFi
A guaranteed minimum income benefit (GMIB) is an optional rider that can be included in an annuity to provide to the holder. Read on.| SoFi
A fixed index annuity comes with a guaranteed minimum rate of return that’s linked to a stock market index. Learn more about the pros and cons of indexed annuities.| SoFi
Understanding the differences between stocks and bonds can help an investor build a stronger portfolio.| SoFi
A SIMPLE IRA is not the same as a Traditional IRA — they have key differences. Here’s a rundown on a SIMPLE IRA vs. Traditional IRA.| SoFi
There are important differences between a rollover and a transfer when making a change to a retirement account.| SoFi
Want to a contribute to a Roth IRA but make too much money? Find out whether a backdoor Roth is right for you.| SoFi
According to IRS rules, you must begin to take required minimum distributions (RMDs) from your IRA when you reach a certain age. Learn how RMDs work.| SoFi
The qualified dividend tax rate is 0% for individuals making $47,025 or less. Higher tax brackets will pay 15% or 20%. Learn about qualified dividends.| SoFi
Wondering how investment income is taxed? Use this guide to learn about the tax rules for different types of investments.| SoFi
Understanding the costs associated with your investments can help you make a plan to maximize your returns. Read on to learn more.| SoFi
Property tax is included in most mortgage payments. Learn how to tell if yours is and more about this important aspect of homeownership.| SoFi
With its ups and downs, investing is a lot like riding a roller coaster, and knowing your own risk tolerance is an important part of investing. Take our quiz!| SoFi
One common question is—what’s the best option: an IRA or a 401(k)? The answer is: over time, you’ll probably use both. Keep reading to learn more!| SoFi
Wondering how to fund an IRA? Here are 4 ways to start an account.| SoFi
The IRA contribution deadline for the current year is tax day in April of the following year. So you can fund an IRA for 2024 until April 15, 2025. Learn more.| SoFi
Searching for an investment strategy that could help you reach your retirement goals? Learn about different options for saving for your future.| SoFi
There’s no limit to how many IRAs you can have. Multiple accounts may help lower your taxes now and in retirement. Learn more about the rules and restrictions.| SoFi
Ever wonder what happens to your 401(k) when you leave a job? Learn more about what you need to do with your 401(k) when you change jobs.| SoFi
Deciding when to take your Social Security retirement benefits can be challenging. Here’s what applying for benefits at different ages can look like.| SoFi
Early retirement — everyone wants to do it, but how? Here are tips and strategies you can try to make an early retirement happen.| SoFi
Let's dive into how you can prepare for a financially comfortable retirement and look at what the average retirement age in the United States really is.| SoFi
Social security early retirement age is 62, but claiming benefits then can lower how much you receive. Here's what to know about filing for benefits.| SoFi
Higher market interest rates = lower fixed rate bond prices, and lower market interest rates = higher fixed rate bond prices. Read on for more specifics.| SoFi
What is a stock—and why do people buy them? In this post, we break down the details on stocks, including risks and rewards of stock investment.| SoFi
There’s no such thing as a safe investment, but some types of investments may be less risky than others, depending on the market. Read on.| SoFi
A mutual fund is a basket of securities such as stocks or bonds. Mutual funds come in many styles and can be actively or passively managed. Learn more.| SoFi
An investment time horizon is the amount of time available to work towards a financial goal, and it is an important reference point when deciding how to invest.| SoFi
How much risk you’re comfortable with is an important factor in investing. What kind of investor are you? Take our risk tolerance quiz to find out.| SoFi
Investors can gauge the risk in their stock holdings better by knowing their portfolio's beta. Here's how they can calculate the figure themselves.| SoFi
Cashing in your 401(k) to pay down debt isn’t your best option. Here are options to consider instead.| SoFi
If you’re in a challenging money situation, try reducing your expenses, earning extra income, and these other smart strategies to get back on track.| SoFi
It’s possible to avoid loan origination fees. Some lenders may not charge them; others may let you haggle. Read up on the questions to ask.| SoFi
Using a 401(k) to buy your first home may not be the best option. Learn more about whether you should use a 401(k) to buy a house.| SoFi
Taxes are part of most people's lives, but here's the info you need to understand what they are, why you pay them, plus tips on lowering your taxes.| SoFi
What is an unsecured loan, and how are they used? This article discusses secured vs unsecured loans and the most common uses for an unsecured personal loan.| SoFi
The rules on taxes for a traditional 401(k) and Roth 401(k) depend on which plan an employee participates in.| SoFi
If your company goes public via an IPO, and you’re a stockholder, there are several things you can do such as holding your shares or selling them. Read on.| SoFi
Is your employer offering restricted stock units? Here’s what you need to know about RSUs and whether to think about holding or selling them.| SoFi
How do stock options work? What about restricted stock units? Here’s everything you need to know to help them grow your wealth.| SoFi
In options trading, when you exercise an option, you’re exercising your right to buy or sell the underlying security in an options contract.| SoFi
Before you decide if you should exercise options in your company, make sure you know: How do options work?| SoFi
What is the meaning of 401(k) vesting? How does 401(k) vesting work? Learn about the vesting period for a 401(k) plan and how to know if you are fully vested.| SoFi
Interested in learning about expense ratios? Everything you need to know about expense ratios, explained.| SoFi
If you’re self-employed, contributing to a solo 401(k) or SEP IRA could help you save for retirement. Which plan should you choose? Read on to learn more.| SoFi
SEP IRAs and SIMPLE IRAs are similar, but there are some key differences between them. Here’s what you need to know about these retirement savings accounts.| SoFi
Index investing, also called passive investing, is a strategy where you buy shares of an index fund that mirrors a market index like the S&P 500. Learn more.| SoFi
Trading ETFs is, in many ways, similar to trading stocks or other securities, and can be done on most stock-trading platforms or brokerages. Read on.| SoFi
A dividend is when a company periodically gives its shareholders a payment in cash, additional shares of stock, or property. Read on.| SoFi
Capital appreciation on investments is among the most common investment strategies for growing wealth. Learn how to grow your money with this strategy.| SoFi
Portfolio rebalancing can seem complicated, but adjusting the asset allocation of your investments is key to any diversification strategy.| SoFi
What is tax-efficient investing? Tax-efficient investing strategies aim to reduce tax bills generated when an investment is profitable.| SoFi
Wondering how much your baseball cards are worth or how much you can get for a coin collection? Discover 10 valuable collectibles you may have at home.| SoFi
When the market is down, don’t panic. It can be a good idea to stay in the market through its ups and downs.| SoFi
When it comes time to sell shares, how do you cash out stocks? Learn how to decide when to sell stocks, which stocks to sell, and how to convert stocks back to cash.| SoFi
Understand the different types Understand the different types of investments and investment options out there to help you meet your financial goals.of investments and investment options out there to help you meet your financial goals.| SoFi
Calculating how much you need to retire is based on personal factors like how much you’ve saved, your Social Security, and your lifestyle. Learn more.| SoFi
An unrealized gain or loss is the change in market value of an asset from its purchase price, before it is sold.| SoFi
Not sure if you should go to a public or a private college? Understand the pros and cons of each.| SoFi
Explore prepaid college plans by state to learn how you can lock in tuition rates, save on future college costs, and understand the unique features and benefits each state offers.| SoFi
File Form 709 if you made any gift worth over an annual limit the prior year. Don’t sweat it. Most people will never have to pay any gift taxes.| SoFi
You may be able to get financial aid for college no matter how much your family earns. Here are some ways to get financial aid if your parents make too much money.| SoFi
If you're a parent or student with college on the horizon, here's an overview of the ins and outs of college financial aid.| SoFi
You need a brokerage account to trade securities, and you might want a cash management account (CMA), too. Learn the pros and cons of a brokerage vs cash management account.| SoFi
Exchange traded funds can be a valuable tool for investing. What are the advantages of ETFs? Learn more here.| SoFi
A 529 plan has an early withdrawal penalty of 10% for non-qualified withdrawals. Withdrawals for the plan are up to $10k annually.| SoFi
The wash-sale rule is an IRS regulation that disallows investment-derived losses from being used in certain tax situations. Learn more.| SoFi
What is volatility in stocks? It is the wild up-and-down price changes in the stock market. To be a good stock market investor, learn to handle volatile stocks.| SoFi
Learn about the responsibilities and risks of being a cosigner on a loan, including financial obligations, credit impacts, and legal implications.| SoFi
Learn how repossession affects your credit and explore your options for refinancing your auto loan after repossession and rebuilding your financial standing.| SoFi
Explore the possibility of securing a loan for a rebuilt car title, including lender requirements, loan terms, and tips for financing vehicles with a salvage history.| SoFi
There are pros and cons to car refinancing. Drivers may lower their rate or monthly payment, but it's worth it only if their credit score has improved.| SoFi
Are you overpaying for your car loan? Discover the average car payment and typical interest rate to help you compare how your loan stacks up!| SoFi
The 30-year mortgage is the most popular; it keeps payments affordable. But buyers and refinancers sometimes choose a shorter mortgage term.| SoFi
Foreclosures saw a minor decrease compared to February and to March of last year. Read on for the foreclosure rates of all 50 states in March.| SoFi
Refinancing a car loan can hurt your credit. Learn why refinancing can affect your credit, as well as the upsides to refinancing that can still make it worthwhile.| SoFi
It’s possible to have more than one checking account at a bank. Learn why this might be a good idea, plus the potential downsides.| SoFi
A number of things can hurt a home appraisal, from needed upgrades and poor maintenance to the location and the comparable property values. Learn more.| SoFi
Is inflation good or bad? It’s a complex question. Inflation drives up the cost of living, but it can also spur productivity and create jobs. Learn more.| SoFi
Private mortgage insurance can add to homeowners' monthly mortgage payments. Learn your options to avoid it, and how to get rid of it if you're paying now.Understanding the requirements on your mortgage can streamline the home-buying process. Know what private mortgage insurance is and what your options are.| SoFi
Your home may be your highest-value asset, but should you include it when assessing your net worth? Here's when it does and doesn't make sense to.| SoFi
Home appraisals are crucial to the home buying, selling, and refinancing process. Get one by factoring in a home's details, location, and nearby sales.| SoFi
Could a negative money mindset be keeping you from reaching your financial goals? Learn how shifting your perspective can improve your financial situation.| SoFi
Factors that affect property value include a home’s age, size, location and cost of comparable homes. Learn more about assessing your home’s worth.| SoFi
We live in a world of acronyms, so it isn’t surprising that mortgage lending has its own, including PMI and MIP. Here’s info about both, plus how to avoid them.| SoFi
A mortgage lender will help you secure a home loan. The mortgage servicer enters the picture once you have your loan. Learn the functions of both in this guide.| SoFi
The exact monthly cost of a $300,000 mortgage will depend on your down payment, interest rate, and loan terms. Learn how it all adds up here.| SoFi
One important financial benefit of homeownership is building equity. Discover 7 ways you can build equity in your home over time.| SoFi
