Plus, what everyone should know about Social Security
| |  | | August 6, 2025 | | | | | | | | Young People Are Hoarding Cash, and It Could Be Costing Them | By Rebecca Moretti
When you're saving for retirement, one of the general rules of thumb is the longer you have before you stop working, the more of your money should be invested. In reality, though, investors in their 20s are holding more of their assets in cash than any age group except retirees 70 or older, according to new data from Empower. And it's not because they don't have enough to invest. (Their median cash balance is $40,725.) Investing does come with risk, but there is a risk to not investing too. Here's what to consider when gauging the right approach for you. | | | | | | | | | | Your SoFi Toolkit | | However much you're holding in cash, make the most of it. With a SoFi high-yield savings account, you can now earn a 4.50% APY for 6 months with eligible direct deposit. Terms apply.¹ | | | | | | | | | | | What Everyone (Gen Z, Too) Should Know About Social Security | | | By Keith Wagstaff
Social Security may not feel particularly relevant when your retirement is decades away. But understanding how the benefits work is an important part of retirement planning no matter what your age.
Although Social Security doesn't negate the need for a savings strategy, your benefits will be a core component of your income during retirement — and they'll last for as long as you live. Factoring them in now can help you maximize them later.
Here's what you need to know and why. | | | | | | | | | | | Informed investment decisions start with informed insights. Here's what's making headlines:
🎨 Former Federal Trade Commission Chair Lina Khan said Figma's (FIG) blowout IPO is "a great reminder that letting startups grow into independently successful businesses, rather than be bought up by existing giants, can generate enormous value." In 2023, Adobe's $20 billion attempt to acquire the design firm failed amid regulatory scrutiny. (Tech Crunch)
💰 Tesla's (TSLA) board approved a stock award worth around $29 billion for CEO Elon Musk. The award is a stopgap designed to keep Musk motivated while the EV maker fights to reinstate his original $56 billion compensation package, which was voided earlier this year. (Quartz)
🛩 Boeing's (BA) blues continue: Around 3,200 workers at the company's fighter jet factory went on strike, their union's first since 1996, after rejecting a contract offer. Aviation labor unions have been winning higher pay as the industry faces a shortage of skilled workers. (CNBC) | | | | | | | | | 44% | That's how many U.S. adults engage in "vibe-based budgeting," led by 56% of Gen Zs and 57% of millennials, according to a recent survey from Intuit Credit Karma.
It's "vibe-based" because participants adjust their spending and financial habits based on how they're feeling about the economy — whether their own financial situation has changed or not. That means headlines, stock market swings, and social media chatter can be primary motivators.
While you may not want to make financial decisions based just on a "vibe," staying informed is an important part of being financially prepared. | | | | | |  | | It's a tough job market for new college grads. Is an advanced degree worth it? (The Wall Street Journal via MSN) | | | | | | | | | | | Intel, insights, and inspo for your money. | | On the Money cuts through the noise of day‑to‑day financial news to bring you a more thoughtful point of view on what's important in this moment — and how it impacts your bottom line. We value your trust above all. | | | | | | | | | | Did you find today's newsletter valuable? | | | | |
| | | | INVESTMENTS ARE NOT FDIC INSURED ‑ ARE NOT BANK GUARANTEED ‑ MAY LOSE VALUE | | ¹Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by 9/3/25. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDICEarn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by 9/3/25. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC
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