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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 of American Business Editors and Writers 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 Jul 25, 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 make a big difference when it comes to your tax refund. As you prepare for life after your divorce, here are things to think about so you can stay on top of your taxes. Read more

by Derek Silva Jun 08, 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 a wealth manager or financial advisor who is an investing expert. A type of investing where an advisor makes decisions on a client’s behalf is called discretionary investment management. Removing yourself from the management of your account is a big decision, though. So before you find a financial advisor to invest with, let’s see if discretionary investment management is something you should consider. Read more

by Derek Silva May 30, 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 public accountant, or CPA, and certified financial planner, or CFP. There is overlap in what a financial advisor with these certifications can do, but individuals tend to do specific types of work. This article will look at the CPA vs. CFP question what separates these certifications so you can choose the right one for you – whether you’re looking to get certified or you’re trying to find a financial advisor. Read more

by Derek Silva May 29, 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 Jul 23, 2018

It might seem a long way off, but retirement will be here before you know it. If you haven’t been saving, you absolutely should be — and you should start right now. The average life expectancy in the… 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 Jun 28, 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

by Derek Silva Apr 11, 2018

When you file your federal income taxes, you have the choice between taking the standard deduction and itemizing your deductions. Which you choose should depend on which strategy will maximize your… Read more

by Derek Silva May 15, 2018

Money affects basically every aspect of our lives. However, learning to properly manage your money isn’t always easy to do. So how can you learn about personal finance while also getting advice that… Read more

by Derek Silva May 30, 2018

Chartered financial analyst, or CFA, and certified financial planner, or CFP, are common certifications for individuals working in finance. These certifications are designed to tell a client (and… Read more

by Derek Silva May 21, 2018

When you file your federal income tax return, you can check the status of your refund by visiting the IRS website or its mobile app. However, each state has its own process for handling state income… Read more

by Derek Silva Jun 19, 2018

When filing federal income taxes, everyone has to choose a filing status. There are five filing statuses: single, married filing jointly, married filing separately, head of household and qualifying… Read more

by Derek Silva May 15, 2018

We all know that we should save for retirement, but actually doing that is a challenge. There is good news though. According to the Economic Policy Institute, Americans have been saving more for… Read more

by Derek Silva Jun 25, 2018

Everyone filing federal income taxes for the 2017 tax year will need to get their returns in by the filing deadline. There is one general date by which most filers need to get returns in. You may… Read more

by Derek Silva Mar 14, 2018

If filing your federal income taxes has you filled with apprehension, you may want to find a tax filing service to help you. The right service will not only take the pain out of filing your taxes,… Read more

by Derek Silva Feb 14, 2018

With the new year starting, it’s just about the time to file your federal tax return. But there’s no need to get stressed out. Tax filing services are making it easier than ever to file your taxes.… Read more

by Derek Silva May 21, 2018

The start of a new year means it’s time to file your federal tax return. Many people stress about filing taxes but there are a number of tax filing services nowadays to make the process easier. Two… Read more

by Derek Silva May 21, 2018

In December 2017, President Trump signed the new tax plan into law. While most of the changes from the plan went into effect on Jan. 1, 2018, they will not affect taxpayers when they file their… Read more

by Derek Silva May 24, 2018

Lauren Greutman is dedicated to helping others save money. Saving is something that financial coach Greutman struggled with for years. Her inability to save led to $40,000 of debt. But through… Read more

by Derek Silva Mar 01, 2018

Beth Kobliner has achieved success in journalism and finance over the past few decades. Her work has featured in a number of financial publications and she’s made the rounds on TV and radio. She… Read more

by Derek Silva May 21, 2018

The majority of U.S. states charge a sales tax on retail goods and services. New York state is no different. The state’s sales tax is relatively low but once you add on taxes from individual counties… Read more

by Derek Silva Dec 26, 2017

David Bach has spent the past two decades teaching people how to get rich. He isn’t trying to pull a fast one though. He says up front that he is not selling get-rich-quick schemes. In fact, his… Read more