An IRS ruling could pave the way for workers to pick where employee matches go.
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-$0.01 (-0.04%) | | | | | | | | | | | | | A major change could be coming for this workplace benefit | | | | A new IRS ruling opens the door for employees to choose where employer match contributions are applied, from retirement funds, to student loans repayments, or health savings accounts.
Read more >> | | | |  | | | | | | | | MARKET RECAP | | | | US stocks finished mixed on Friday | | | | - For the week, all three major indexes finished higher, with the Dow Jones Industrial Average ending the week at a fresh record close.
- A key inflation metric showed prices rose 2.2% year-over-year in August, the lowest level since February 2021.
- Core PCE — the inflation metric most closely watched by the Federal Reserve — ticked up just 0.1% in August.
- Consumer spending rose, albeit by the smallest level since January.
| | | | What to be on the lookout for today | | | | - Fed Chair Jerome Powell will speak on the U.S. economy's outlook at an annual meeting.
- In earnings, Carnival Corporation will report.
| | | | | | | | Planning baby #2? Here's how to prepare | | | | Second-time parents already know the cost of diapers and have a lot of secondhand gear. But there is still plenty to think about as you prepare your finances for your growing family.
Budget for more child care. The biggest immediate expense you'll have will be child care. Depending on whether your first child is in school yet, the financial considerations for that makes sense for your family will differ. Sketch out different scenarios as you plan.
College savings: one 529 plan or two? A 529 plan is a tax efficient way to save for your children's education. But do you need one or two? Well, it depends.
While a 529 plan can have only one beneficiary, you can set it up so the money can be used for any child. On the other hand, setting up separate 529s can give you additional state tax breaks, depending on where you live. Learn more about 529 plans and how they can help you save for your children's college education. | | | |  | | | | | | | | Today’s top stories | | | | | | | | All eyes on the labor market | | | | Investors, economists, and the Federal Reserve are anxiously awaiting the September jobs report (due Friday) for more context on the Fed's recent policy shift and the trajectory of the U.S. economy. Here's what's ahead on Wall Street.
Read more >> | | | | How much are you spending on groceries? | | | | We'll break down the average cost of groceries by state and share tips for ways to budget and save on food.
Read more >> | | | | | | | | | | Other news that caught our eye | | | | | | | | | | Financial planner tip of the day | | | | "Waiting until the end of the month to check in on accounts leaves consumers at risk for excess spending and potentially overdrawing a checking account or having a higher credit card bill than they anticipated. Checking in once a week leaves time to self correct and adjust the budget to help balance the numbers." | | | | – Brian Walsh, CFP® at SoFi | | | | How did you like today's newsletter? | | | | | | | | This email was sent to you at paidmellc@gmail.com by SoFi Wealth LLC. (SoFi) because you're enrolled in the SoFi Daily. If you do not want to receive SoFi Daily emails, click here to unsubscribe.
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