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Derek Silva

Credit Card and Retirement Expert

Derek Silva is determined to make personal finance accessible to everyone. He writes on a variety of personal finance topics for SmartAsset, serving as a retirement and credit card expert. Derek is a member of the Society for Advancing Business Editing and Writing and a Certified Educator in Personal Finance® (CEPF®). He has a degree from the University of Massachusetts Amherst and has spent time as an English language teacher in the Portuguese autonomous region of the Azores. The message Derek hopes people take away from his writing is, “Don’t forget that money is just a tool to help you reach your goals and live the lifestyle you want.”

Posts by Derek Silva:

by Derek Silva Nov 15, 2018

The practice of granting stock options to employees is growing in popularity as a way for employers to attract and retain talent. And depending on the company, it could pay off big for the employees. Because options give you a stake in your company’s success, you could see a big profit if your company is successful. If you’ve been offered options as part of a compensation package, or if you’re considering exercising and selling those options, it’s a good idea to first brush up on how they work. Read more

by Derek Silva Nov 05, 2018

Sometimes when it comes to your finances, going at it alone can be intimidating as you try to come up with a game plan. But you want to make sure you’re consulting the right expert for your needs. How does a financial advisor, for example, differ from a wealth manager? Wealth managers are just one kind of financial advisor who work with a specific clientele: those with a high net worth. However, you don’t need to be super rich just to work with a wealth manager. Minimum account sizes vary. And you may want to consider their services even if you don’t have that much to invest, because they offer comprehensive management of your finances. To help you understand better how wealth managers compare to other financial advisors, and whether a wealth manager is the right choice for you, we’ve created this guide. Read more

by Derek Silva Oct 29, 2018

Thailand receives a lot of attention as a retirement destination — and for good reason. The cost of living is low, which means you can stretch your retirement savings further. The country has a rich culture with delicious cuisine and friendly people. The weather is sunny and hot. If you want to visit beautiful temples or go for a hike, Thailand has options aplenty. Do you want to kick back on a beach? Thailand has lots of those to choose from as well. So let’s dive right in and look at the information you need in order to decide whether or not Thailand is the best place for you to spend your golden years. Read more

by Derek Silva Oct 24, 2018

If you dream of retiring in Europe, Portugal is worth considering. It boasts a rich culture and a Mediterranean climate, all at an affordable price. There are sunny beaches in Algarve, wine in Porto… Read more

by Derek Silva Oct 23, 2018

When choosing a place to retire, you may want to look for an affordable locale that’s full of things to do and sights to enjoy. If you’re interested in retiring abroad, Argentina is an attractive… Read more

by Derek Silva Oct 23, 2018

If you have a traditional IRA, you will need to start collecting distributions when you reach age 70.5. The amount of these required minimum distributions (RMDs) depends on your age and the value of… Read more

by Derek Silva Oct 23, 2018

If you dream of retiring on a sunny island with delicious food and a thriving local culture, it may be time to look at Greece. The country offers hot summers and mild winters. You can live in a… Read more

by Derek Silva Oct 22, 2018

Sometimes you’ll need to transfer money from one bank account to another. Perhaps you’re paying some for the monthly rent or maybe you want to move your money from an old account into a high-interest… Read more

by Derek Silva Sep 20, 2018

If you want to open a bank account, you no longer need to visit a branch in person. With digital banking becoming more common, you can open and manage everything from saving accounts to mortgages,… Read more

by Derek Silva Oct 22, 2018

The federal government and the state of Montana run several programs for first-time home buyers in Big Sky Country. Depending on your exact needs and circumstances, there are multiple types of loans… Read more

by Derek Silva Sep 04, 2018

A retirement system is a network of pension plans that states use to help public employees save for retirement. Each state has at least one retirement system and an organization that administers the… Read more

by Derek Silva Aug 31, 2018

A retirement system is a pension plan that a state or other local government uses to help its public employees save for retirement. The systems requires members to contribute during their careers so… Read more

by Derek Silva Aug 31, 2018

Illinois state employees may be eligible to take part in the state’s retirement system. A retirement system is a pension plan that a state uses to help public employees save for retirement. Public… Read more

by Derek Silva Aug 31, 2018

Each state has its own retirement system. This is an organization that helps state and local employees save for retirement. The individual pension plans that these organizations administer (also… Read more

by Derek Silva Aug 27, 2018

A retirement system is an organization that helps government workers save for retirement. It then helps distribute the money, in the form of a pension, to retirees. Each state has a retirement system… Read more

by Derek Silva Oct 30, 2018

If you’re getting a divorce, the tax implications probably are not the most pressing issue in your mind. The specifics of filing taxes after divorce and how you draw up your divorce agreement could… Read more

by Derek Silva Oct 18, 2018

Investing isn’t always easy. The decision to buy or sell a specific security requires research, time and the knowledge on how to make a trade. That’s why some people are happy to pass off the work to… Read more

by Derek Silva Sep 05, 2018

When you work with a financial advisor, advanced certifications tell you that he or she has put in the work and has the qualifications to do advisory work. Two common certifications are the certified… Read more

by Derek Silva Nov 16, 2018

Earning dividends is a great incentive for investing in certain companies or mutual funds. Dividends are particularly useful for people who need to add to their retirement savings. However, you will… Read more

by Derek Silva May 29, 2018

Filing federal income taxes means getting a refund for many Americans. The average tax refund, according to the IRS, was $2,763 in 2017. That’s a nice chunk of change to get back, but what if you… Read more

by Derek Silva May 22, 2018

Once you’ve gone through the burdensome process of filing your taxes, your sigh of relief might be short-lived. That’s because you’ll start tapping your feet and wondering, “How long does it take to… Read more

by Derek Silva May 23, 2018

Investing is never easy, and trying to figure everything out on your own can be incredibly stressful. That’s why many people hire a professional financial advisor who understands the market and can… Read more

by Derek Silva Nov 12, 2018

Regardless of your age, your retirement will be here before you know it. Hopefully, you’ve been actively saving for years. As your golden years approach, consider this: The average life expectancy in… Read more

by Derek Silva Jun 25, 2018

Tax season can be stressful but the saving grace is that many tax filers will receive a refund. In January 2018, the IRS (Internal Revenue Service) revealed that more than 70% of tax filers are… Read more

by Derek Silva Sep 05, 2018

You’ve worked hard for decades and now the time has come to enjoy yourself. Regardless of what you do in your retirement, you should always be aware of how much you have left for retirement savings.… Read more