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Shanna Due, a financial planner with District Capital Management in Washington D.C., says that about 10% of her clients ask about the Financial Independence, Retire Early, or FIRE, movement. Most want to retire by 50, she says, or they want financial independence so theyre not tied to any one career.

They want to have the financial flexibility to follow a new path if they want, she says.

FIRE strategies typically require a lot of discipline, and theyre not for everyone. Followers save aggressively and live well below their means in hopes of acquiring financial flexibility and retiring years before is typical.

Individuals aiming to retire by 50 might need to accumulate 75% of their current annual income for every year they expect to be retired, Due says. So if a worker has current income of $100,000 a year, and is planning on a 35-year retirement, he or she would need more than $2.6 million by age 50.

The only way you amass so much money is saving heavily from the get-go. A 30-year-old with $50,000 in savings would likely be saving 50% or more of his or her salary over the next 20 years to approach this goal.

Before committing to an aggressive strategy like this, Due warns her clients to consider three factors carefully.

Understand your motivations

A FIRE strategy works best when you have a clearly defined reason for why you want to retire early and achieve financial independence. Its different for different people. For some, their goal is to travel full time, while others want to leave a job they dont like while maintaining their current lifestyle. Without clear direction, it may be hard to follow through with the discipline needed to save aggressively and live frugally.

If you get on a FIRE plan, you have to make sacrifices along the way, Due says. Say youre 25 years old and all your friends want to spend summer backpacking through Europe, if youve already set up your reasoning as to why you want to have $1.4 million in the bank by 40, its simple to say no because you have a clearly defined purpose.

Know what retirement means to you

Many individuals dont have a clear idea of what their retirement will look like, and that can make planning difficult. If your goal is to retire early, then what? Due asks. Will you just sit at home all day, or does it mean instead of working at your current engineering firm, you work for Habitat for Humanity building houses?

Deep reflection on what you want to accomplish can help you determine how aggressively to pursue a FIRE strategy. For example, I find that most people really just want financial flexibility, Due says, allowing them to work at jobs they are more passionate about. That doesnt necessarily require the strict savings and frugality needed to retire decades early. Nailing down your plans can help you understand which FIRE strategies are needed. Once you identify those, you can decide whether they are feasible.

Consider future life changes

When considering a long-term FIRE strategy, its important to consider future eventsplanned and unplanned, Due says.

An emergency fund covering a year or mores worth of expenses can help cover catastrophic unexpected events like illness or layoff.

But what about other life events? For example, if you have children, or want them in the future, will the expense of childcare or saving for a college education allow you to meet FIRE goals? Similarly, if you plan to care for aging parents, will the cost of care mean postponing early retirement?

Its important to remember that without the proper planning you could spend your entire 20s and 30s sacrificing and not actually reap the benefits of it. Due says. You have to be strong in your reasoning and make sure youre clear on what happiness means to you.

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Want to Retire at Age 50? Do Some Hard Thinking First. - Barron's

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Achieving financial independence and leaving the workforce before the traditional retirement age of 65 has become an aspiration for many people.

For Jackie Cummings Koski, that goal became a reality when she retired with $1.3 million at age 49. Koski didn't house hack her way to riches or build a YouTube presence that earns her hundreds of thousands of dollars each year. Instead, she credits the start of her wealth-building journey to her childhood.

Her family, which included her single father and five siblings, grew up poor in South Carolina. According to Koski, it wasn't an ideal situation but her father worked hard and was able to put food on the table.

"What stuck with me from that experience was that I didn't want to be poor when I got older," she said. However, the same sentiment resurfaced again later in life after her 11-year marriage ended. Again, she was determined to never be poor again.

"The divorce was one of the biggest wake up calls I had," Koski explained. "It scared me because now I was alone and I needed to make sure I wasn't going to go back to poverty. So that's what got me started with thinking about my money and building my wealth."

Here are some crucial steps she took that allowed her to retire at age 49 with $1.3 million.

After her divorce Koski became very interested in the stock market, but she was still quite uncomfortable with the idea of investing her own money and potentially losing it. However, she ended up joining an investing club to better understand what to do with her money. A friend from work told her about one group in particular called BetterInvesting, which still exists today (for which Koski now sits on the Board of Directors).

During the club meetings, participants learned how the stock market worked and were even taught and encouraged to invest small, non-intimidating amounts of money.

"I ended up joining [the investing club] and I'm still a member today," Koski said. "That allowed me to increase my comfort level with investing. Eventually, I wasn't scared of investing anymore."

This was around 2007. But even after joining, Koski improved her financial know-how by listening to podcasts. And by 2013 when social media had really taken off, she also joined some online FIRE communities. FIRE, which stands for Financial Independence, Retire Early, is an idea or end goal shared by people who wanted to achieve financial independence and leave the workforce before the traditional retirement age of 65.

"That was my biggest takeaway from this," Koski said. "You don't have to do things in a silo. You can find a community that you resonate with and can learn through."

Even before Koski joined the investing club, she had been contributing to her 401(k) account at work, and she even contributed enough to receive her employer match. However, she admits that at the time, she didn't really know what she was doing.

"I never thought of it as investing at the time," she said. "But my learning through the investment club taught me otherwise, and I started questioning what I was invested in through work. I decided that I should put my money in places where I can get both growth and a tax break, so I started maxing out my 401(k) and contributing to a Roth IRA."

With a Roth IRA, you can contribute your after-tax money to an account and invest it in a variety of stocks, index funds, mutual funds and ETF's. You won't owe taxes on withdrawals made in retirement since you've already paid taxes on the money. This is why a Roth IRA can be such an instrumental part of your wealth-building plan and there are lots of different ways you can open an account.

You can use a brokerage like Fidelity or Charles Schwab , or download a robo-advisor app like Betterment or Wealthfront, to open a traditional or Roth IRA. Robo-advisors help you determine which investments make sense for you based on yourrisk tolerance, goals and retirement date.Robo-advisorsalso take on the task of automatically rebalancing your portfolio as you get closer to the target date for your goals (be it retirement or buying a house). This way, you don't have to worry about adjusting the allocation yourself.

Note that with tax-advantaged retirement accounts, like a 401(k) and IRA, you won't be able to make withdrawals until age 59 and a half, unless you're willing to pay taxes and penalty fees. While saving in these accounts may not allow you to retire much earlier than the traditional retirement age, they are a key tool in building wealth for the long term.

In addition to contributing to her 401(k) and Roth IRA, Koski also invested in one more tax-advantaged account: her HSA (health savings account).

HSA accounts were designed for consumers who have high deductible health plans (HDHP) to be able to save for upcoming medical expenses. Contributions are made pre-tax through an employer-sponsored HSA plan that's the first advantage of an HSA. Similar to a 401(k), you can also invest the contributions made to an HSA.

The second tax advantage is that all growth of your HSA funds aretax-free. And the third advantage is that you can withdraw the funds from your HSA tax-free for qualified medical expenses. But if you don't want to use the money for healthcare-related purposes, you can wait until age 65 to withdraw funds for any reason.

So an HSA isn't just a way to save for medical expenses; it can also be an instrumental way to accumulate a sizable, tax-free nest egg.

"I had a $500 deductible that I wasn't even meeting so I decided putting money into an HSA was a good fit for me, especially since I could invest that money, too," Koski said. "So I had three tax-advantaged accounts and that came from increasing my comfort with the stock market."

Koski reminisced about how once she started working as a teen, she would save every $2 bill she came across. But the habit unknowingly followed her into adulthood.

"I would get a check and deposit it at the bank and they would give me a $2 bill," she said. "And even as an adult I just kept saving those $2 bills until I decided I didn't need to collect them anymore. I ended up with $3,200 just by saving $2 bills. But I grew into a habit from saving because of that and it stuck with me."

By the time she started getting salary bonuses and bumps at work, she had already built that muscle for saving so it was easier for her to just save the extra income to reach her goals a little faster. In fact, she recommends that everyone build this habit, especially if they feel they have competing priorities and expenses.

"When you're young in 20's and 30's, you're in a bottleneck where you have so many things going on at the same time, like getting out of school, having debt and living on your own. All those competing priorities make it very hard to save," Koski explained. "If you can't save a meaningful dollar amount, think about building that muscle over time by creating the habit of automatically putting something even a small amount into your investing account regularly."

It can sometimes be tough to manually move your money into your savings or investment account. Sometimes you may just forget while other times you might get bogged down by other expenses and feel like you don't want to move more money out of your account. But when you automate your savings, you effectively prevent yourself from choosing to not save money. You can usually set up recurring savings through your online bank account, or you can use an app like Digit to automatically save small, random amounts of money each day.

One of the most important things you could do when pursuing financial independence is figuring out how much money you need before you can officially say you never have to work again. This number (popularly known as your FIRE number) is the amount of money you need invested if you want to withdraw a portion of your investments each year without running out of cash.

The yearly withdrawal rate typically goes off of the 4% rule, which says that in the first year of retirement you can comfortably withdraw 4% of your investments then slightly adjust your withdrawal rate as needed each year after that. Historical data shows that living off 4% of your retirement portfolio should allow you to cover your expenses for 30 years.

Koski used this rule to determine how much money she needed to have on hand.

"I came up with my FIRE number by figuring out how much money I spend each year, which was about $40,000, and multiplying it by 25," she said. "I calculated that I would need $1,000,000 to be able to withdraw 4% each year."

To figure out how much money you're likely to spend each year, you'll need to track your yearly expenses. The Mint app does that for you once you connect your bank accounts to the app (you can also connect your investment accounts, credit cards and other financial accounts to see your net worth).

Koski does note, however, that even once you finally reach your FIRE number, you may still face some emotional hurdles when it comes to the idea of walking away from your job and retiring early.

"I actually reached my FIRE number at age 46 but it was still very uncomfortable because I had to get used to the idea that I wouldn't be coupled with a job and would need to pay for my own health insurance," she said. "So I didn't actually retire for another few more years."

Koski was able to reach financial independence through a combination of good financial habits, but it all really started with improving her financial education and understanding what numbers made sense for her.

But whether or not you're pursuing FIRE, turning your financial situation around and investing money can be stressful and even daunting. But Koski leaves the following advice: "Don't deprive yourself and take away your fun because you'll lose the energy to keep making these financial moves. It has to be sustainable. Give yourself credit and celebrate the small wins."

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staffs alone, and have not been reviewed, approved or otherwise endorsed by any third party.

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This woman grew her wealth and retired by age 49 here are 5 major steps she took to do it - CNBC

From scarcity in life to doing part-time jobs like tutoring and sewing clothes to enabling financial inclusion for women by women, Lakhimi Baruah has seen it all. The 71-year old from Jorhat in Assam founded Konoklota Mahila Urban Cooperative Bank (KMUCB) in 1998 with the vision to provide underprivileged women with self-employment opportunities, encourage thrift, and educate on financial independence.

Baruah was awarded the Beyond Business award at the ETPrime Women Leadership Awards 2021 for revolutionizing the way social initiatives are delivered and creating societal impact at scale.

It was a struggle for her right at the onset, she lost her mother at birth, and her father passed away when she was a teenager. She was raised by relatives and forced to abandon higher studies due to financial constraints. She later completed her education while working to contribute to the household income.

Baruah shares that she was frequently questioned on the need for a separate bank for women when there were conventional banks. She responded, "We accept deposits as low as Rs 20 from daily wage women labourers. Moreover, women come with various reasons to take a loan, for instance, educational loan for their daughters; some come to start a business like a roadside eatery or a shop, some want agricultural loans. We have also provided Rs 500 as a loan and have seen women buying an insurance policy with that amount. It is women who understand these reasons and hence the requirement for a women cooperative bank powered by women."

KMUCB has working capital of over Rs 13 crores and an impressive recovery rate of 93%; it has also reduced the dependency on informal money lending. Spread across three Assam districts, Jorhat, Sibsagar, and Golaghat, the bank has over 45,000 account holders, primarily women. Over 75% of the account holders are illiterate and from disadvantaged sections of society. The bank has plans to open a branch in all the districts of Assam. "Many self-help women groups have benefited from the bank's micro-credit and credit facilities," she added.

For the exceptional work rendered to society, KMUCB received the Nari Shakti Award from the former President of India, Pranab Mukherjee, in 2016. In addition, Baruah was awarded the Padma Shri in 2021 to empower women in Assam financially.

Along with Lakhimi Baruah, the other distinguished nominees for the Beyond Business award were Dr. Rukmini Banerji, Chief Executive Officer, Pratham Education Foundation; Neerja Birla, Founder and Chairperson, Aditya Birla Education Trust and Mpower; Rohini Nilekani, Chairperson of Rohini Nilekani Philanthropies, Co-founder of EkStep, and Founder of Arghyam; and Sheetal Mehta, Executive Director, KC Mahindra Education Trust.

Lakhimi Baruahs full-length interview is an inspiring journey of a woman who helped 45,000 women from the tribal and other marginalized communities to achieve financial independence. The interview with subtitles is available exclusively on the website of ETPrime Women Leadership Awards.

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Lakhimi Baruah wins Beyond Business award for taking banking to the poor and underprivileged women in Assa - Economic Times

What does early retirement mean to you? Does it mean leaving your career behind in your mid-50s? Late 50s? Early 60s?

No matter what retirement age you're targeting, you should know that it is possible to meet your goal, even if you're an average earner. But retiring early also requires a lot of careful planning, as well as knowing what pitfalls to avoid. Here are three dangerous ones that could ruin your plans if you're not careful.

Image source: Getty Images.

The more debt you take on, the more difficult it will be to consistently fund a retirement plan. But without a decent pile of savings, you might struggle to leave the workforce when you want to.

If you're set on retiring early, keep what could be your single largest debt -- your mortgage -- to a reasonable level. That means not necessarily borrowing the full amount you qualify for.

You should also do your best to steer clear of credit card debt as a matter of course. Credit cards are notorious for charging high interest rates, and too much of this type of debt could eat up a large chunk of your income and prevent you from meeting your savings goals.

The money in your IRA or 401(k) plan shouldn't sit there doing nothing. Rather, you'll want to fuel your contributions' growth by investing your retirement savings.

But be careful not to play it too safe. Though bonds are far less volatile than stocks, their returns don't tend to be as generous. And if you don't grow your money aggressively enough, you may not manage to retire when you want to.

Imagine you do a good job of socking away $500 a month in your retirement plan starting at age 22 with the goal of retiring at age 62. That's the earliest age you can sign up to collect Social Security.

If you invest conservatively, you might generate a 4% average annual return during that window, leaving you with a total savings balance of $570,000. That's a decent sum of money, but possibly not enough to allow for an early retirement.

On the other hand, if you load up on stocks, you might manage to generate an 8% average annual return in your retirement plan, which is just below the stock market's historical average. And in that case, you'll be sitting on an ending balance of a little over $1.5 million.

If you're a parent, it's natural to want to help your children as much as possible -- even once they've grown. But if you divert too much of your earnings to helping your adult children cover their bills, you might struggle to meet your savings goal and retire when you want to.

A better bet? Encourage financial independence among your children, and try to find ways to provide nonmonetary support.

If your kids have kids, you can offer to watch them as your schedule allows for so your children can spend less on child care. But don't take money earmarked for your retirement savings and give it to your grown kids to help them pay their basic expenses -- not unless they've encountered an emergency of their own, like an illness or layoff.

Early retirement is something a lot of people strive for. If it's a goal of yours, be sure to avoid these traps that could wreck your chances of leaving the workforce on your own terms.

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3 Things That Could Get in the Way of an Early Retirement - The Motley Fool

How much will be enough? Thats the question everyone stops at. There is no one answer. It depends on your current income, your lifestyle, your dependencies, etc. And how much ever you need, you cant save it all. You will have to let your money grow to that.

For instance, Amit retires with a lump sum amount of Rs 50 lakh as a part of his retirement benefits. However, 8-10 years post-retirement he found himself in dire straits as he had used up all his savings for other goals including funding his childs higher education, buying a car and a property. Because of this, he had no choice but to resume work again as a consultant in his old age to support his financial requirements.

Abhishek Misra, CEO and Principal Officer, Bonanza Insurance Broker says, There are many people who after retirement end up using the lump sum amount they receive on retirement for other goals such as buying a property or a vehicle, exotic vacations, childrens education or marriage. As a result, they end up either depending on others for money or are forced to take up work again.

He further adds, Therefore, it is important to opt for regular income even after retirement.

Here are a few reasons why regular income is important even after retirement:

For financial independence

In the absence of regular income, one has to depend on others or compromise on ones basic necessities. Hence, having a regular source of income can ensure financial independence and the freedom to live on your own terms.

To take care of health issues

Health problems tend to increase with increasing age. Health insurance is the first solution but most dont opt for it and depend on their employer-provided one. After retirement, they are left with no insurance cover.

Misra points out, A regular source of income even after retirement can ensure that one can avail the best treatment without compromising on other needs.

To take care of monthly expenses for the rest of the life

Industry experts say the average lifespan of humans has increased over the last few decades. This means it is important to have a source of regular income to take care of your monthly expenses as long as you are alive.

Tendency to use lumpsum amount received on retirement for other expenses

Due to the emotional quotient associated with familys needs especially those of children like higher education or marriage, many people tend to use their retirement corpus for other goals, explains Misra.

Therefore, in the absence of regular income after retirement, such situations can cause a lot of financial and mental stress at later stages of life.

Where to park the money?

Retirement is an ideal time to take up ones hobbies or interests. It is also a time when one should be free of financial stress, says Misra.

There are many investment options available for retirement planning such as direct equities, mutual funds and pension plans offered by life insurance companies. However, Misra says it is important to note that every investment comes with its own set of pros and cons. For example, while direct equities and mutual fund investments have the potential to generate high returns, the risk factor associated with them is also high. Pension plans offered by life insurance companies offer moderate but assured returns.

Further experts say a regular annuity plan can help one generate income on a regular basis to take care of various monthly expenses. By investing even a small amount on a regular basis in a deferred pension plan, for instance, one can build a huge corpus over the long term as the time horizon is large. The corpus thus generated can provide annuity on a regular basis to take care of your monthly expenses.

Before investing in any financial instrument, it is important to look at ones own risk appetite. As planning for a comfortable retirement is an unavoidable goal, one should choose their investment for the same with adequate diversification among different financial instruments. Misra adds, The guarantee element associated with pension plans offered by life insurance companies makes it a must-have in ones overall investment portfolio for retirement planning.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

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Here is why getting regular income post-retirement is important - The Financial Express

Lala Kent has seen evidence of her ex-fianc, Randall Emmett, being unfaithful to her throughout their courtship, she told Page Six in an exclusive new interview.

I know that he had sent messages that said he never [was], but theres proof elsewhere, the Vanderpump Rules star, 31, said of the movie producer, whom she split from in October after he allegedly cheated on her in Nashville.

Bottom line is, I feel like I was in a relationship that was based on nothing but lies.

Kent who shares daughter Ocean, 9 months, with Emmett continued, We had such little communication during the time that those photos surfaced to the time that I moved out. I say I did what I needed to do to remove myself from that home with my baby in tow.

The TV personality noted that she feels indebted to the women spotted with Emmett, 50, in Music City this fall, as they played a part in unveiling a man she could no longer picture a future with.

I will forever be grateful to those two girls walking across the street with him because they saved me, she said. Those two girls, I wish I knew who they were, because I would start sobbing and tell them, You saved me. Thank you so much!

She added, I got that feeling in my gut that I talk about in my book [Give Them Lala]. And thats when I knew, Im leaving this relationship.

After calling off their three-year engagement, the Bravolebrity immediately escaped Emmetts Bel Air mansion and checked into the Beverly Hills Hotel with their baby girl. She has since secured a place of her own and even launched bRand new merch, inspired by hermodified tattoo of Emmetts name and, more notably, her newfound sense of freedom as a single woman.

It feels amazing, she said of navigating life and continuing to build her Give Them Lala Beauty brand without Emmett by her side.

I met him when I was just venturing into Vanderpump Rules, and during our time together, I really created something amazing for myself, she recalled. Now Im out here on my own, completely independent from anybody. The only way to describe it is I feel free and liberated and the strongest Ive ever felt in my life.

Kent told Page Six that she finds strength by caring for Ocean, speaking to a therapist here and there and believing in a higher power.

Ive never really been one to talk about my faith, but because Im relying on it so much right now, I find it important to talk about. I feel very mentally strong, the Salt Lake City, Utah, native explained.

I dont want to question it because it doesnt matter why I feel this way. I just want to relish in the fact that Im here, functioning and in my clear state of mind.

This tremendous clarity, she told us, has galvanized her to share details of her breakup with Emmett on her Give Them Lala podcast and speak with authority on such topics as infidelity and financial independence in an effort to help other women.

Im extremely passionate about women and their safety and their mental health and them being mothers, she said. Theres just something about it where Im feeling the need to talk about it. Im being pulled in that direction right now.

Kent hopes to establish an even deeper connection with her supporters this spring when she heads out on the road for Give Them Lala Live: The Brand New Tour.

I want guests who come up on stage and share their stories. I want my people to leave feeling like they can take on the world like nothing can break them after this night. Thats the goal, she said.

We are all so much stronger than we could ever imagine. Thats what Ive learned.

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Lala Kent says there is 'proof' of Randall Emmett cheating - Page Six

Emerging fintech firm SoFi Technologies (NASDAQ:SOFI) is consolidating at the $15 a share level. After breaking out in October, only to peak at over $20 in November, SOFI stock is near $15 again. The Federal Reserves rate heightening policy spooked fintech investors. A sell-off in mega-cap electronic payment processing firms did not help matters, either.

Source: rafapress / Shutterstock.com

SoFi is a no-frills, no-fee, one-stop-shop. The online banking firm has a few headwinds to overcome, first.

What are SoFis prospects like in light of recent developments?

Square (NYSE:SQ), now known as Block, shook investor confidence when the stock broke down below key support levels in November. Growth investors reduced their holdings, worried that the stock would correct further on unfavorable valuations. Markets hinted it wanted more growth from PayPal (NASDAQ:PYPL). Rumors circulated that PayPal would buy Pinterest (NYSE:PINS), a growing social networking site, to spur growth.

Pinterest is not a cheap company to buy. PayPal would need to pay a premium to get it. Market sentiment for this credit services firm is worsening. Although its price-to-earnings is around 45 times, its growth is slowing. SoFi is in the early phases of growing its financial offerings. It does not have anywhere near the customer base nor the expertise of Square or PayPal.

SoftBank (OTCMKTS:SFTBY) sold 22.5 million shares for $486 million recently. The sale at $21.60 on Nov. 18 could prove well-timed. SPAC entrepreneur Chamath Palihapitiya also cut his take by 15% the week before the SoftBank sale.

SoftBanks dramatic selling should worry SoFi investors. In the prior period, it did not sell any shares. Insiders typically know more than the average retail investor.

However, bullish investors may look at insider selling as a positive development. To get a bank charter license, shareholders with more than a 10% position have more paperwork. They have more regulatory and disclosure requirements to meet. At a macroeconomic level, Softbank and Palihapitiya may anticipate the Feds rate tightening cycle will hurt fintech firms more than traditional financial companies.

SOFI stock is in a downtrendChart courtesy of Stock Rover

SoFi is launching several products, including credit cards. Each product release will need advertising support. It will also need to hire more staff to increase customer support levels. In the early phases of growth, those costs will grow faster than revenue and earnings. Shareholders are expecting losses to mount in the short term.

In the adjacent chart, SOFI shares crossed below key supporting moving averages. The moving average convergence divergence is crossing over. This is a bullish signal.

The chart does not predict a rebound but is a useful guide in monitoring where it may head to next.

As SoFis business reaches economies of scale, investments in technology will pay off. Operating margins will expand. Those who bought the stock at low prices should benefit from the stock rising in value. Still, the Feds rate tightening cycle helps traditional banks more. The interest rate spread will widen. This will increase interest income for banks holding billions in bank deposits.

SoFis assets under management are relatively small compared to the banks. Investors are compelled to sell SOFI stock and buy Citigroup (NYSE:C) or Bank of America (NYSE:BAC). Morgan Stanley (NYSE:MS) and J.P. Morgan (NYSE:JPM) are also attractive alternatives. Their profits will grow from stronger corporate customer activities.

SoFi wants to differentiate itself from the above-mentioned banks. It wants to help its customers achieve financial independence. That is what happens when they borrow, save, invest, and spend better.

CEO Anthony Noto said that SoFi offers many loan products. For example, it has a Money account that acts as a checking/savings account in one. Members may sign up for SoFi Credit Card. They may have SoFi invest to buy into four different asset classes. The Relay product is SoFis unique tool that is a top-of-the-funnel product. It will learn more about its customer, enabling SoFi to recommend a suitable product.

Relay gives SoFi a competitive edge. It personalizes the customer experience. When it recommends a product that customers buy, it adds to its revenue growth.

SoFi offers convenience. Members will sign up for many products. After the company earns its trust and reliability from each offering, customers will do more business, maybe for their lifetime, with SoFi.

SoFi needs to work through a product development backlog in 2022. Its teams are building faster-performing products for customers. Yet the firm has more service offerings ahead. In investing, it needs to get customers on options and margins. In the cryptocurrency space, SoFi needs to offer different types of cryptocurrencies.

SoFi needs to watch out for overspending on advertising. SoFi Stadium in Inglewood, California, will pay off after the NFL season started. Should customer growth slow, it will need to adjust spending levels.

Insider sales pressured SoFi in recent months. This could scare retail investors from buying more at current levels. Fortunately, its business is thriving. Expect strong customer growth in the quarters ahead. This will attract more buyers in SOFI stock to buy into the recent dip.

On the date of publication, Chris Lau did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Chris Lau is a contributing author for InvestorPlace.com and numerous other financial sites. Chris has over 20 years of investing experience in the stock market and runs the Do-It-Yourself Value Investing Marketplace on Seeking Alpha. He shares his stock picks so readers get original insight that helps improve investment returns.

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Here's What's Behind the Strong Selling Pressure on SoFi Stock - InvestorPlace

Alerzo Limited, Nigerias leading B2B e-commerce platform has donated an undisclosed amount of money to burn survivors through the Sebastine Foundation For Burn Survivors. The donation was announced at the official launch of the foundation which took place in Lagos recently.

Speaking on the donation, the chief executive officer of Alerzo Limited, Adewale Opaleye said the company supported the foundation as an avenue to give back to the society by helping victims of societal hazards regain their sense of belonging and become productive citizens.

As a business that is fully involved in daily activities of small enterprises, we know what it means for people to make a living for themselves. For those who have challenges like burn survivors, it becomes more difficult for them to overcome the mental difficulties and become productive again.

So this gesture is to help them get back on their feet financially, be able to put themselves to productive ventures and ultimately move on in life. We hope that this will help them in their quest for full recovery and propel them to financial independence, he said.

Sebastine Foundation for Burn Victims was created by Sebastine Enechi who is also the chief executive officer of Shago Limited, a payment platform acquired by Alerzo earlier in the year with the aim of helping burn survivors feel comfortable in their skin and ultimately improve their lives to be an integral part of the society.

The Foundation is aimed at helping burn survivors like me fit back into society, to help them look beyond their looks and scars and believe that they can do more regardless of the conditions they find themselves in. We plan to support them physically, morally, financially, provide medical diagnosis, treatment, post-treatment support, scholarship, we want to encourage them to keep seeing the brighter part of life, Enechi added.

Part of the ongoing plan, according to Sebastine, is to collaborate with government organizations, hospitals like burn centres, the Red Cross, Fire Service Commission, private organizations and the general public.

With collaborators on board, Sebastine claimed that the foundation will be able to work out programmes that will help uplift the life of burn survivors while reaching out to the victims in burn centres across Nigeria.

The foundation presented a five hundred thousand naira (500,000) educational scholarship to two victims during the launch ceremony, and another five hundred thousand naira each (500,000) to support one victim in the Burns and Plastic Center, Igbobi, Lagos. The beneficiaries, among others, included Ms. Oyebola Oyeduntan, Michael Sam Odinnakachukwu, and National Orthopaedic Hospital, Igbobi.

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Alerzo Supports Burn Survivors Foundation With Cash Donations - THISDAY Newspapers

Meghan Markle and Prince Harrys journey to financial independence has been a roller coaster ride.

The Duke and Duchess of Sussex managed to stir global headlines throughout 2021 as they settled into their new lives in California. From their bombshell interview with Oprah Winfrey that was viewed by nearly 50 million people worldwide, to the arrival of their daughter, Lilibet, the couple faced plenty of ups and downs in the spotlight. Its safe to say that everyone including the royal family wondered, "whats next?"

As the year comes to an end, here are 15 ways the former American actress, 40, and the British prince, 37, made jaws drop in 2021:

THE BIGGEST CELEBRITY SCANDALS OF 2021

In February, Buckingham Palace confirmed that Markle and Harry wouldnt be returning as working members of the British royal family. "Following conversations with The Duke, The Queen has written confirming that in stepping away from the work of The Royal Family it is not possible to continue with the responsibilities and duties that come with a life of public service," the statement read. "While all are saddened by their decision, The Duke and Duchess remain much loved members of the family."

Prince Harry got candid with his pal James Corden. Terence Patrick/CBS via Getty Images

During a February appearance on "The Late Late Show," Harry told James Corden that he thinks the hit Netflix series is truer than some of the news stories that have been written about him and his wife. "They dont pretend to be news," Harry explained. "Its fiction. But its loosely based on the truth. Of course, its not strictly accurateI'm way more comfortable with The Crown than I am seeing the stories written about my family, or my wife, or myself. That is obviously fiction take it how you will. But this is being reported on as a fact because youre supposedly news."

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Meghen Markle's team strongly denied the allegations. Photo by NDZ/Star Max/GC Images

Just days before the Duke and Duchess of Sussexs sit-down with Winfrey, The Times alleged that Markle faced a bullying complaint made by one of her close advisers. However, Markles team strongly refuted the claims. "The Duchess is saddened by this latest attack on her character, particularly as someone who has been the target of bullying herself and is deeply committed to supporting those who have experienced pain and trauma," a spokesperson for the couple said in a statement sent to Fox News. "She is determined to continue her work building compassion around the world and will keep striving to set an example for doing what is right and doing what is good."

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During the couple's televised sit-down in March, Harry told the media mogul he felt trapped by royal life and was surprised that he was cut off financially and lost his security. Harry also said he felt his family didnt support Markle, who acknowledged her navet about royal life as she endured tabloid attacks. Markle, who is biracial, described how when she was pregnant with her son, Archie, there were "concerns and conversations about how dark his skin might be when hes born." The Duchess also described the intense isolation she felt inside the palace that led her to contemplate suicide. Following the interview, Buckingham Palace said the allegations of racism were "concerning" and would be addressed privately.

Prince Harry and Oprah Winfrey teamed up to launch the mental health docuseries. AP/Getty

In May, Harry teamed up with Winfrey to launch "The Me You Cant See," a mental health series on Apple TV+. In it, Harry described what his father, Prince Charles, used to tell him as he struggled emotionally. "He used to say to both William and I, 'Well, it was like that for me, so its gonna be like that for you,'" said Harry. "That doesnt make sense. Just because you suffered, that doesnt mean that your kids have to suffer. In fact quite the opposite, if youve suffered, do whatever you can to make sure that whatever experiences, negative experiences you had, that you can make it right for your kids."

Meghan Markle welcomed a baby girl in June. Photo by Getty

In June, the couple welcomed their second child, a daughter named Lilibet "Lili" Diana Mountbatten-Windsor. The name pays tribute to both Harrys grandmother, Queen Elizabeth II, whose family nickname is Lilibet, and his late mother, Princess Diana. The baby is "more than we could have ever imagined, and we remain grateful for the love and prayers weve felt from across the globe," the couple revealed.

PRINCE CHARLES WAS THE ROYAL WHO ASKED ABOUT COMPLEXION OF MEGHAN MARKLE, PRINCE HARRY'S FIRSTBORN, BOOK SAYS

Random House Childrens Books announced that Meghan Markle was releasing her first childrens book titled "The Bench," which is inspired by the relationship between her husband Prince Harry and their son, Archie. AP/Getty

In June, the Duchess wrote her first childrens book titled "The Bench." The picture story aims to celebrate the bond between Harry and Archie, as well as fathers and sons in general. Markle said the book began as a Fathers Day poem written a month after Archies birth, in 2019.

Prince William and Prince Harry at Princess Diana's statue unveiling. Getty Images

In July, Harry and his older brother, Prince William, reunited in the U.K. to unveil a statue of their late mother on what would have been her 60th birthday. It was the second time the brothers appeared together in public since Harry stepped aside from royal duties. The first was when their grandfather, Prince Philip, died in April at age 99. Royal watchers were hoping the meeting would lead to a reconciliation. During his interview with Winfrey in March, Harry confirmed rumors that he and William had been growing apart, describing their relationship as "space at the moment." Despite their differences, one thing was clear Dianas memory is something that continues to unite the princes.

PRINCE HARRY FELT HE WAS BEING ERASED FROM THE FAMILY AFTER QUEEN ELIZABETHS PHOTO SNUB, BOOK CLAIMS

Prince Harry will be releasing a memoir in 2022. Kevin Mazur/Getty Images for Global Citizen VAX LIVE

In July, Random House announced Harry is writing "an intimate and heartfelt memoir" that is expected to be released in late 2022. "Im writing this not as the prince I was born but as the man I have become," said Harry. "Ive worn many hats over the years, both literally and figuratively, and my hope is that in telling my story the highs and lows, the mistakes, the lessons learned I can help show that no matter where we come from, we have more in common than we think. Im deeply grateful for the opportunity to share what Ive learned over the course of my life so far and excited for people to read a firsthand account of my life thats accurate and wholly truthful."

In September, the couple landed a coveted spot on Time magazines 100 Most Influential People list. "They turn compassion into boots on the ground through their Archewell Foundation," chef Jos Andrs wrote in a short essay about the pair. "They give voice to the voiceless through media production. Hand in hand with nonprofit partners, they take risks to help communities in need offering mental-health support to Black women and girls in the US and feeding those affected by natural disasters in India and the Caribbean."

PRINCE HARRY SLAMMED PRINCE WILLIAM FOR QUESTIONING HIS MEGHAN MARKLE ROMANCE FOR THIS REASON, BOOK CLAIMS

In September, the couple paid New York City a royal visit, marking their first major joint public outing since becoming parents. During their visit, the duke and duchess met with New York Gov. Kathy Hochul and Mayor Bill de Blasio. It was revealed that the pair were making an appearance at the Global Citizen Live, which was broadcast live from Central Park. During their appearance, they advocated for vaccine equity. Harry and Markle also paid a visit to a Harlem elementary school as well as Melbas Restaurant.

In November, Politico reported that Markle personally reached out to members of Congress to campaign for paid family leave. The news came weeks after she wrote an open letter to Speaker of the House Nancy Pelosi, D.-Calif., and Senate Majority Leader Chuck Schumer, D.-N.Y., published by Paid Leave for All. According to the outlet, it was Sen. Kirsten Gillibrand, D.-N.Y., who gave the phone numbers to the former American actress. The 54-year-old has pushed her party to include paid leave in its social spending bill.

PRINCE WILLIAM WAS WARY ABOUT PRINCE HARRY SLAMMING THE PRESS ABOUT MEGHAN MARKLE FOR THIS REASON: BOOK

The Duke and Duchess of Sussex made a grand entrance at the Salute to Freedom Gala. Theo Wargo/Getty Images for Intrepid Sea, Air, & Space Museum

The couple honored veterans at the 2021 Salute to Freedom Gala at New York Citys Intrepid Museum ahead of Veterans Day in the U.S. and Remembrance Day in the U.K. During his appearance, Harry discussed the isolation service members, stressing the importance of supporting our veterans. Harry served a decade in the British army and two tours in Afghanistan. "My experience in the military made me who I am today, and I will always be grateful for the people I got to serve with wherever in the world we are," said Harry.

In November, Markle appeared on "The Ellen DeGeneres Show" and pranked vendors at the studio lot. The Duchess mewed in cat ears, devoured hot sauce on crackers like a chipmunk and held a huge crystal to her face all after a pretend assistant told the trio of sellers to treat her just like everybody else. Later, the two women welcomed Brittany Starks, a Tennessee mother and hairdresser who gave back after being helped herself through hard times by braiding the hair of schoolchildren for free. Since then, she has started a charity, A Twist of Greatness. The show and philanthropy partner TisBest donated $20,000 to her cause. Markle and Harry matched it with another $20,000.

MEGHAN MARKLE ON 'ELLEN': DUCHESS DRINKS A BABY BOTTLE, CHANTS AND SQUATS IN PRANK VIDEO

Meghan Markle issued a call to "reshape a tabloid industry." Photo by Toby Melville - WPA Pool/Getty Images

In December, Markle won the latest stage in her privacy lawsuit against a British newspaper, when three senior judges ruled its publisher breached her privacy by reproducing parts of a letter she wrote to her estranged father. She noted that the Court of Appeal ruling was a victory of "right versus wrong." She also issued a call to "reshape a tabloid industry" that has long been the bane of both celebrities and British royals. Losing claimant Associated Newspapers said it was considering an appeal to the U.K. Supreme Court.

The Associated Press contributed to this report.

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Meghan Markle and Prince Harry: 15 Ways the Duke and Duchess of Sussex made headlines in 2021 - Yahoo News

NEW YORK, NY / ACCESSWIRE / December 31, 2021 / Focus Financial Partners Inc. (NASDAQ:FOCS) ("Focus"), a leading partnership of independent, fiduciary wealth management firms, announced today that Provident Financial Management ("Provident"), a multi-family office and business management firm with offices in Santa Monica, Woodland Hills and San Francisco, CA, as well as in Nashville, TN, and London & Co., LLP ("London"), a tax, accounting and business management practice based in Los Angeles, CA have entered into definitive agreements to join the Focus partnership as a new Focus partner firm, which will be called Provident Financial Management. These transactions are expected to close simultaneously this year, subject to customary closing conditions.

Founded in 1982 by Barry Siegel and Bill Vuylsteke, Provident offers comprehensive, concierge family office and business management services to a diverse client base, including musicians, entertainers, actors and high net worth individuals. London, which is led by Philip London and Scott Adair, provides a full range of accountancy services including tax and tour accounting, as well as business management services to an array of entertainer and non-entertainer clients and businesses. London's service offerings will complement and enhance those of Provident, while further diversifying Provident's client base. Joining with Provident will provide continuity for London's team and clients.

The combined firm will be led by Barry, Bill, Philip and Scott, together with a group of managing directors from Provident including Ivan Axelrod, Pamula Johnson Solar, Bo Gardner, Jeffrey Turner, Joni Soekotjo, Dawn Nepp, Lisa Ferguson, Shelley Venemann, Larry Eibund, Barbara Karol, and Debra ("Debbie") Dez.

"Our main goals in finding a strategic partner were to ensure the continuity of our well-established brand, while also gaining access to additional resources to help us better serve our clients and grow our business," said Barry Siegel, Partner of Provident. "Focus' deep understanding of the multi-family office and business management space made them a clear choice," added Bill Vuylsteke, Partner of Provident. "We also greatly valued Focus' M&A expertise in helping us identify a firm of London's caliber."

"Scott and I are very pleased to be joining forces with Barry, Bill and the entire Provident team," said Philip London, Co-Managing Member of London. "We are confident that our clients will benefit from our ability to leverage Provident's platform and to promote continuity of client service."

"We are excited to welcome Provident and London to Focus together as a new partner firm. The Provident and London teams exemplify the dynamic, entrepreneurial mind-set we look for in partners," said Rudy Adolf, Founder, CEO and Chairman of Focus. "As we have watched these firms build their businesses through the years, their well-established client relationships and focus on exceptional levels of service are clear differentiators. The combined Provident and London firm further expands our presence in the multi-family office and business management sector, while adding complementary expertise to the Focus partnership. These transactions are also an example of our ability to think creatively and identify opportunities for firms even before they join us, positioning them to grow and better serve their clients.

We are concluding a record year of M&A activity, underscoring the attractiveness of our value proposition and the scale benefits we offer our partner firms globally. In 2021, we added 14 new partners and 24 mergers, including 8 mergers for Connectus, for a total of 38 transactions. We are entering 2022 with excellent momentum and are very excited about the future growth prospects of our business."

About Focus Financial Partners Inc.

Focus Financial Partners Inc. is a leading partnership of independent, fiduciary wealth management firms. Focus provides access to best practices, resources, and continuity planning for its partner firms who serve individuals, families, employers and institutions with comprehensive wealth management services. Focus partner firms maintain their operational independence, while they benefit from the synergies, scale, economics and best practices offered by Focus to achieve their business objectives. For more information about Focus, please visit http://www.focusfinancialpartners.com.

About Provident Financial Management

Provident Financial Management is a preeminent business management firm with a well-established brand and has a strong presence in key markets with three offices in California and an office in Nashville, TN. The firm provides concierge family office services including business management, comprehensive tax planning and tour accounting to musicians, entertainers, actors and high net worth individuals. For more information about Provident, please visit http://www.providentfm.com/.

About London & Co., LLP

London & Co., LLP is a premier business management and family office firm that provides a full range of business management and accountancy services including tax and tour accounting. The firm provides services to entertainers, recording artists, producers, business owners, record labels and a variety of businesses. For more information about London, please visit http://www.londonco.com/.

Cautionary Note Concerning Forward-Looking Statements

This release contains certain forward-looking statements that reflect Focus' current views with respect to certain current and future events. These forward-looking statements are and will be, subject to many risks, uncertainties and factors relating to Focus' operations and business environment, including, without limitation, uncertainty surrounding the current COVID-19 pandemic, which may cause future events to be materially different from these forward-looking statements or anything implied therein. Any forward-looking statements in this release are based upon information available to Focus on the date of this release. Focus does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could affect Focus may be found in Focus' filings with the Securities and Exchange Commission.

Investor and Media Contacts

Tina MadonSenior Vice PresidentHead of Investor Relations & Corporate CommunicationsFocus Financial PartnersP: +1-646-813-2909tmadon@focuspartners.com

Charlie ArestiaVice PresidentInvestor Relations & Corporate CommunicationsFocus Financial PartnersP: +1-646-560-3999carestia@focuspartners.com

SOURCE: Focus Financial Partners Inc.

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Provident Financial Management and London & Co., both Multi-Family Office and Business Management Firms, - Benzinga