SoFi (NASDAQ: SOFI), the “all-in-one” digital personal finance company, announced SoFi Invest will offer a 2% match on all eligible IRA (individual retirement account) contributions through Tax Day (April 15, 2024).
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 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 Investing offerings, SoFi Invest is improving access to planning and invest for people’s financial futures with:
- Complimentary access to Certified Financial Planners (CFPs), offering members personalized advice for their individual goals and needs
- Fractional share trading, 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
As noted in the update, 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.”
