Bloomberg Businessweek Celebrates the 2025 Ones to Watch in Tech
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11 minutes ago
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Better Fintech Stock: Upstart vs. SoFi Technologies
Key Points Upstart's growth is accelerating again as interest rates decline. SoFi will benefit from lower rates and resumed student loan payments. The pricier stock is still the better long-term pick. 10 stocks we like better than Upstart › Upstart (NASDAQ: UPST) and SoFi Technologies (NASDAQ: SOFI) are both growing fintech companies. Upstart's online lending marketplace uses AI to crunch non-traditional data points to approve a wider range of loans than traditional credit-scoring services. SoFi is challenging traditional banks as a one-stop digital shop for myriad financial services. Upstart went public via a traditional IPO at $20 on Dec. 16, 2020, and it now trades at $63. SoFi went public by merging with a special purpose acquisition company (SPAC) on June 1, 2021. Its stock opened at $21.97, but it now trades at roughly $23. Let's see why investors embraced Upstart but shunned SoFi -- and if that trend will continue. Upstart's growth is warming up again Upstart's platform approves loans for banks, credit unions, and auto dealerships. Instead of reviewing traditional data like an applicant's FICO score, credit history, or annual income, it uses its AI algorithms to analyze non-traditional data points -- which can include previous jobs, standardized test scores, and GPA -- to approve a broader range of loans for younger and lower-income applicants with limited credit histories. It fully automates most of those approvals. Upstart's growth can be measured through its originated loans, conversion rate (the ratio of total inquiries leading to approved loans), and contribution margin (the ratio of its fees it retains as revenue). Here's how it fared over the past five years. Metric 2020 2021 2022 2023 2024 Originated loans growth 40% 338% (5%) (59%) 28% Conversion rate 15% 24% 14% 10% 16.5% Contribution margin 46% 50% 49% 63% 60% Revenue growth 42% 264% (1%) (39%) 24% Data source: Upstart. In 2022 and 2023, Upstart's growth decelerated as soaring rates chilled the market's demand for new loans. Many lenders also cautiously reined in their own offerings. But as Upstart's top-line growth slowed down, its contribution margin improved as it automated more loans and locked in a higher mix of "super prime" borrowers to boost its take rate for each loan. In 2024, its growth accelerated again as interest rates declined. From 2024 to 2027, analysts expect its revenue and adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to grow at a CAGR of 36% and 245%, respectively. Those are robust growth rates for a stock that trades at just 22 times next year's adjusted EBITDA. SoFi's growth is still cooling off SoFi provides a wide range of loans, insurance policies, estate planning services, credit cards, banking services, and stock trading tools. It obtained a U.S. bank charter in 2022, and it operates as a digital-only direct bank that doesn't run any brick-and-mortar branches. That streamlined approach enabled SoFi to expand at a much faster rate than traditional banks, as seen in its growth in members, total financial products in use, and total revenue over the past four years. Its adjusted EBITDA margin also expanded from 3% in 2021 to 26% in 2024. Metric 2021 2022 2023 2024 Members 2.5 million 5.2 million 7.5 million 10.1 million Products in use 1.9 million 7.9 million 11.1 million 14.7 million Revenue growth 74% 60% 35% 26% Data source: SoFi Technologies. However, the temporary suspension of student loan payments from 2020 to 2023, rising interest rates, and other macro headwinds throttled SoFi's growth. It also faces tougher competition from "neobanks" like Chime and Robinhood Markets, dedicated lending platforms like Upstart, and expanding fintech giants like PayPal. On the bright side, two of those headwinds are dissipating. The freeze on SoFi's student loan payments has ended, and interest rates will likely keep declining. From 2024 to 2027, analysts expect SoFi's revenue and adjusted EBITDA to grow at a CAGR of 25% and 37%, respectively. That bright outlook implies that while SoFi's hypergrowth days might be over, it should continue to grow at an impressive rate as it gains even more members, expands its ecosystem with fresh features, and profits from the expansion of its fintech subsidiary Galileo, which it acquired in 2020 and now serves nearly 160 million accounts on its own. Like Upstart, SoFi's stock also looks cheap relative to its growth potential at 19 times next year's adjusted EBITDA. The winner: Upstart Upstart and SoFi are both promising fintech stocks. But if I had to choose one over the other, I'd buy Upstart because it's growing faster, experiencing accelerating growth (instead of just stabilizing growth), and faces fewer direct competitors. SoFi still has to prove it can maintain its edge against its growing list of competitors. Do the experts think Upstart is a buy right now? The Motley Fool's expert analyst team, drawing on years of investing experience and deep analysis of thousands of stocks, leverages our proprietary Moneyball AI investing database to uncover top opportunities. They've just revealed their to buy now — did Upstart make the list? When our Stock Advisor analyst team has a stock recommendation, it can pay to listen. After all, Stock Advisor's total average return is up 1,070% vs. just 184% for the S&P — that is beating the market by 885.55%!* Imagine if you were a Stock Advisor member when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $668,155!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,106,071!* The 10 stocks that made the cut could produce monster returns in the coming years. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of August 13, 2025 Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends PayPal and Upstart. The Motley Fool recommends Fair Isaac and recommends the following options: long January 2027 $42.50 calls on PayPal and short September 2025 $77.50 calls on PayPal. The Motley Fool has a disclosure policy. Better Fintech Stock: Upstart vs. SoFi Technologies was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11 minutes ago
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6 Best Side Hustles for Seniors To Offset Social Security Cuts
Due to concerns about Social Security's insolvency, a recent analysis from the nonprofit Committee for a Responsible Federal Budget estimated that Americans could experience a 24% cut to their benefits by the end of 2032. It projected benefit cuts in 2033 ranging from $8,200 to $18,000 for single-income couples and $11,000 to $24,000 for dual-income couples. While Congress may still act before the Social Security fund is depleted, it's smart to plan ahead so you have other income sources to supplement your retirement savings and benefits. One option is to take on senior-friendly side hustles that let you make money doing potentially low-stress, enjoyable work online or locally. Here are six of the best side gigs that can help seniors offset Social Security cuts. Check Out: Read Next: Rent Out Your Space If you haven't downsized, you may have an extra room or even a whole basement to spare. You could consider making passive income by renting out that space on a platform like Airbnb or finding trustworthy renters locally. However, this side gig will require giving up some privacy and taking time to understand local regulations and maintain the space. The earnings potential is high but depends on factors like demand for your location, the type of space you're renting out and how often you have paying guests. You'll also need to factor in any platform fees and business expenses associated with the rental. Find Out: Deliver Groceries or Meals Delivering groceries or meals through platforms like Instacart, Shipt and Uber Eats can be a senior-friendly side gig that lets you earn through base payment fees, incentives and tips. It's ideal if you like getting out of the house, feel comfortable using apps and don't mind driving and occasionally lifting heavy items. Getting started is easy, with major platforms often just requiring a short application, background check and online training. You'll also need a reliable vehicle. Once onboarded, you can log in when you're available to pick up orders. While your pay depends on the orders you do and several other factors, Indeed reported a $19.51 average hourly rate for delivery drivers. Take On Freelance Projects Whether you used to work in IT, customer service, consulting or a creative field, freelancing can help you keep your skills fresh and make extra money to supplement your Social Security checks. It's also an increasingly popular option, with Statista estimating that the majority of Americans will take on this type of work by 2027. One route to freelancing is to join marketplaces like Upwork, Fiverr or PeoplePerHour, where you make a profile, set rates and find clients. You can also reach out to companies directly or advertise your services on LinkedIn. You can expect your earnings to widely vary, though Indeed noted that freelancers average $27.95 per hour. Be sure to account for any business expenses when you set your rates, and keep in mind you'll be paying higher taxes as a self-employed individual (which is the case for any of these side gigs). Be a Pet Sitter Watching people's pets while they're working or traveling can be an enjoyable side gig for seniors who like spending time with animals. You'll typically do simple tasks like feeding, playing with and walking pets, as well as keeping them clean and giving them medications. Plus, you can choose the pets you work with and when you're available for care. Platforms like Rover, Wag and are popular places to find pet-sitting gigs, but you can also advertise locally or post about your services on social media. According to Indeed, the average hourly rate for pet sitting is $25.86, but you'll normally decide your own rates. Sell Handmade Items An upside of being a retired senior is that you likely have more time to focus on hobbies you enjoy, and that might include making jewelry, painting, crocheting or doing other crafts. If what you make is in demand, you could turn crafting into a profitable side hustle by selling items at craft shows or on platforms like Amazon, Etsy and social media sites. Deciding on pricing can be tricky since you must account for the time and materials put into the project and any platform, shipping and payment fees. CraftyBase noted that a common target profit margin is 8% to 30% for crafts and that competition will play a role in setting your prices. Be a Substitute Teacher If you'd like an impactful, in-demand side gig during retirement, consider becoming a substitute teacher in your area. This role is often flexible enough to let you grab a few shifts per month to several per week, and you can usually pick the schools and grade levels you teach. Plus, unlike full-time teachers, you typically won't have work to take home. While you'll want to check with your state's education department, this side gig often doesn't require an education degree or teaching experience. Kelly Services noted that some states don't even require a college education. According to Indeed, the average hourly pay for substitutes is $22.44. More From GOBankingRates 5 Old Navy Items Retirees Need To Buy Ahead of Fall Mark Cuban Says Trump's Executive Order To Lower Medication Costs Has a 'Real Shot' -- Here's Why This article originally appeared on 6 Best Side Hustles for Seniors To Offset Social Security Cuts
Yahoo
11 minutes ago
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Dave Ramsey claims any American can become a millionaire if you follow these tips
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links. In October 2024, financial guru Dave Ramsey made a lofty claim: any American could become a millionaire if they followed his eight principles. These guiding pillars are all based on Ramsey's National Study of Millionaires, which surveyed 10,000 millionaires across the country in 2017-2018. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it The research found 79% of millionaires didn't receive an inheritance at all. That's why he emphasizes that becoming a millionaire has nothing to do with generational wealth (or lack thereof). The study also uncovered that 62% of millionaires graduated from public or state schools. So, Ramsey says the place you got your university degree from is really irrelevant. too. What does matter, according to Ramsey, is how you handle the money you do have. Here are his top tips for achieving a seven figure net worth. 5. Work with an investing professional If you want to become a millionaire, you may spend a lot of time thinking or even fantasizing about reaching that seven-figure mark. But the above steps are often against our urge to spend, and the temptation to get sucked into comparison culture. Working with a trusted professional is a great way to avoid those traps. And according to Ramsey, it's one of the smartest things you can do for your money. With you can find the right financial professional to help you fulfill your wealth goals. It's a free service that helps you find the right financial advisor for you,by matching you with a small list of the best options for you to choose from. Set up a free, no-obligation consultation with one of their pre-screened financial advisors today. 4. Cut unnecessary expenses The research also found that most millionaires relied on making a grocery list, and sticking to it, when shopping. Ramsey suggests this is because they stay focused on buying what they need, not just what they want. This strict spending also applies to bills and monthly or yearly expenses. With both home and auto insurance, you want to ensure you're not overpaying for protection. You can compare rates offered on auto insurance by various lenders through OfficialCar Insurance. All you have to do is enter some basic information about yourself and the vehicle you drive, and OfficialCarInsurance will show you rates offered by leading insurance providers like Progressive, Allstate, and GEICO. You can then compare the rates and select one best suited to your budget. You can find rates as low as $29 per month for free through OfficialCarInsurance within minutes. Refinancing or finding a better auto loan rate is worth considering, too. Over one-in-four Americans owe more on their car loans than the vehicles are worth, according to the Washington Post. Securing a good refinancing deal now can protect you from future market ups and downs. You can compare auto loan refinance rates offered by lenders near you through LendingTree. Here's how it works: Just answer a few simple questions about yourself and the vehicle you drive — and LendingTree will connect you with two to five lenders from their network of more than 300 lenders. You may be eligible for refinance loans starting at 3.50% APR, through LendingTree's network. The best part? The process is completely free and won't hurt your credit score. Another expense that likely takes a big chunk out of your monthly paycheck is home insurance premiums. In 2023 alone, home insurance costs rose by an average of 12%, according to the S&P Global Market Intelligence analysis. On top of this, insurance rates rose by 6.9% in the first half of 2024. But you don't have to keep overpaying for this expense. You can shop around for rates and save up to $980 per year through The process is simple: Enter some information about your home and finances, and will show you a list of lenders near you offering competitive rates. You can review all the offers in one place and find the coverage you need at the lowest possible cost. Read more: Nervous about the stock market? Gain potential quarterly income through this $1B private real estate fund — even if you're not a millionaire. 3. Make savings a priority Dave Ramsey will be the first to tell you: Once you've started saving, you have to stick with it. According to Ramsey, the goal should be to put at least 15% of your income into tax-advantaged accounts like a 401(k) and Roth IRA. Investing 15% of your income toward retirement can shorten the time it takes to hit the millionaire mark by 20 years or less. That's the power of securing high-interest accounts and capitalizing on compound returns over time. An excellent way to grow your savings safely is with a certificate of deposit. CDs offer a guaranteed rate of return, and those rates are usually higher than your typical savings account. You can choose how long to lock in your investment, and so they're suitable for both short- and long-term savings. However with CDs, if you withdraw the money before the end of the term, you'll face penalty fees. 2. Invest early and consistently Once you're debt-free (that doesn't include your mortgage) you want to start saving as early and often as you can. In fact, most of the millionaires Ramsey surveyed said they reached that milestone through consistent investing. Platforms like Acorns make consistent investing easy by allowing you to save and invest just by making your everyday purchases. When you make a purchase on your credit or debit card, Acorns automatically rounds up the price to the nearest dollar and places the excess into a smart investment portfolio. This way, even the smallest spending translates to money saved for the future. Sign up now and you can get a $20 bonus investment. 1. Stay away from debt And the first step to money management is avoiding debt, according to Ramsey. Of course, that's easier said than done for most Americans. According to the U.S. Department of Labor, 77% of households have at least some type of debt. If you're among this group, you'll want to make sure you're getting the best possible rate. Credible is a free online service that shows you the best lending options to pay off your credit card debt fast, while saving interest. Credible's platform lets you compare loans and interest rates, and in just two minutes, you can browse available lenders offering debt consolidation loans. The other three rules on Ramsey's list are: Increase your income to reach your goal faster: But bear in mind that one-third of all surveyed millionaires never made a six-figure salary in a given working year. Keep your millionaire goal front and center: This one may seem easy, but it's the next step that really helps you lock it in. Put your plan on repeat: Last but not least, you want to give yourself time to let compound growth do its thing. Ramsey's key piece of advice is believing in the process and sticking with it, even when the going gets tough. What to read next Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Here are 5 simple ways to grow rich with real estate if you don't want to play landlord. And you can even start with as little as $10 Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. 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