If you have $1,000 sitting around that you don’t need for a couple weeks, you can park it over at SoFi Invest and earn a $100 bonus for doing so if you use someone‘s referral link. Here’s my referral link (Yes, that’s my legal first name). Like SoFi Money, it only takes a few minutes to open an account. When your cash settles, you can then pull it out no harm no foul.
SoFi Invest confirmed with me that you don’t have to invest your $1,000 deposit or $100 bonus in anything, but you might wanna…
One cool thing about SoFi Invest is that they offer “Stock Bits” which allows you to buy fractional shares of stocks, funds and even crypto currency. You don’t have to have enough money to buy a full share. Perhaps best of all, there is no charge for trading (buying/selling stocks and funds).
I decided to put my $100 bonus toward a stock bit of Warren Buffet’s Berkshire Hathaway (Ticker: BRKB). There are many stocks and funds from which to choose (Apple, Amazon, Disney, etc.) – if you decide not to pull out your $1,000 deposit or $100 bonus. I’m usually a Vanguard S&P 500 ETF man (Ticker: VOO), but I decided to use my $100 freeroll on The Oracle from Omaha.
UPDATE on SoFi Money
When I wrote about SoFi Money a few weeks ago, you’d get $50 if you used a referral link to open a SoFi Money account and fund it with $100. After that, you’d get $100 for every friend you referred who also opened and funded his account with $100 – and your friend would get $50. The promotion has changed to a $25 bonus when you fund your SoFi Money account with $100. The referral bonus has also changed to $25. Not bad, but no word if the larger bonuses will come back.
The Good News
You can get $100 if you use someone‘s SoFi Invest referral link (here’s my SoFi Invest referral link) to open a SoFi Invest account and fund it with $1,000. Just like you may have done with SoFi Money, you could use my link to open and fund your SoFi Invest account and then refer your friends and family.
As you can see below, I funded my SoFi Invest account on November 29th. My $100 bonus showed up two business days later on December 3rd. SoFi Invest told me that my $1,000 funding deposit may take a week or two to settle before I can invest it or withdraw it back to my bank account. The $100 bonus is still mine to invest or cash out!