Update 1/4/24: Offer is now increased to 2% through 4/15/24
The Offer
SoFi Invest is offering a 1% match on IRA contributions through 12/31/23.
The max you can contribute each calendar year is $6,500, or $7,500 for those age 50+. Altogether this amounts to a max bonus of $65 or $75.
The Fine Print
ACATs, wires, and rollovers are not included. Offer ends 12/31/23.
Our Verdict
I’m not an expert on the investment options with SoFi Invest, but for someone who uses them this is a nice little bonus add. (Robinhood also has a 1% match – their offering seems to be advertised as a recurring deal.)
Mymoneyblog flags a completely separate SoFi bonus to get 100 loyalty points (worth $1) each time you have a recurring deposit into your Invest account, up to 3 times per week. You should be able to combine the two deals and have your IRA split up in smaller deposits three times each week through year-end.
Hat tip again to MMB