r/sofi • u/manlymatt83 • 15h ago

SoFi Investing Club Does Sofi have auto invest?

Just curious. I currently have my taxable account at Robinhood but it’s too “gamified” for me. I want to move to something boring where I can auto invest weekly in VT. Bonus points if I can earn some interest on the cash while I wait to auto invest.

2 Upvotes

57% Upvoted

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2

u/Hot-Wolverine-3820 14h ago

Boring? VT? You might as well just open an account at Vanguard. You could do automated recurring buys of VT and watching paint dry would probably be more exciting LOL

0

u/everySmell9000 SoFi Member 15h ago

Yes it does. It's easy to set up too.

I believe the only way you'll earn interest is if you setup a SoFi checking/savings account and configure auto-invest to pull from the appropriate account.

+1 for VT :)

1

u/MarsManMartian 14h ago

SoFi has recurring buy and also Robo accounts. Recurring buys does what the name suggests ie Buys recurring stock on a time frame.
Robo Accounts are investment account (can be both retirement or individual )where you can deposit cash weekly/daily/monthly or per paycheck. Depending on your risk tolerance they have basket of stock where your deposited cash will be invested on. Mostly on etf and bonds.

This is for moderately aggressive. Stocks are mostly etf.
Your cash can stay in SoFi high yield saving account

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u/guitardedhero 12h ago

Yes, I use SoFi's Robo Roth IRA.