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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 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. You will need to choose between those filing service though. So in this article, let’s compare two of the largest tax filers: TurboTax vs. TaxSlayer. Read more

by Derek Silva Feb 14, 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 of the most well-known services are H&R Block and TurboTax. They both offer a friendly user-experience. They provide information along the way so you understand what you’re doing. And perhaps most importantly, they both offer affordable filing options. But which of these services should you use when you file this year? Read more

by Derek Silva Jan 30, 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 federal income taxes by April 17, 2018. However, some parts of the tax plan applied retroactively. A small number of taxpayers will see changes to their 2017 taxes as a result. There are also a couple of changes that won’t take full effect until 2019. Let’s take a look at when the provisions of the tax plan will take effect. Read more

by Derek Silva Jan 15, 2018

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

by Derek Silva Jan 05, 2018

Beth Kobliner has achieved great 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.… Read more

by Derek Silva Feb 16, 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

by Derek Silva Feb 14, 2018

Governments, at all levels, may charge sales tax for goods and services. Retailers collect sales tax at the point of sale on their goods and then they send their collections to the government.… Read more

by Derek Silva Feb 15, 2018

Putting away money for retirement isn’t always easy. Once you figure out how much you need to save for retirement, then you need to actually save that money. Consistently putting money into savings… Read more

by Derek Silva Dec 11, 2017

AJ Smith didn’t always focus on personal finance. She liked to work and earn money – that was about as far as she planned. But over the course of her career she came to see just how important… Read more

by Derek Silva Dec 05, 2017

Imagine a world where you don’t have to constantly stress about money. You have enough to cover your bills and regular expenses. More than that, how would you like to know that you can afford to live… Read more

by Derek Silva Dec 04, 2017

According to the Employee Benefit Research Institute’s (EBRI) 2016 Retirement Confidence Survey, many people aren’t confident that they’re doing a good job of financially preparing for retirement.… Read more

by Derek Silva Dec 01, 2017

Ramit Sethi built himself up from humble beginnings to become a millionaire entrepreneur and best-selling author. The advice on his blog isn’t groundbreaking, but it’s his approach that sets him… Read more

by Derek Silva Nov 30, 2017

The Great Recession lasted from late 2007 to mid 2009. It was the longest recession since World War II and had huge impacts on the U.S. economy. Investors lost big as the S&P 500 Index fell 57%. The… Read more

by Derek Silva Nov 30, 2017

Patrice Washington had her fair share of financial troubles when she was younger. Now she helps others take control of their finances with honest and direct advice. She isn’t just going to drone on… Read more

by Derek Silva Nov 27, 2017

When it comes to personal finance, sometimes it seems like there’s a whole new language that you need to learn. There are terms like expense ratios and asset allocations. One thing you’ve probably… Read more

by Derek Silva Nov 28, 2017

Personal finance is not something they teach you in school. Alexa von Tobel understands this and has dedicated her life to teaching people the financial lessons they need. As the CEO of LearnVest,… Read more

by Derek Silva Nov 28, 2017

Wes Moss has spent his career helping people to retire as soon as possible and as happily as possible. As a certified financial planner, Moss has experience showing people ways to reach their… Read more

by Derek Silva Feb 20, 2018

Nicole Lapin is a financial expert and successful entrepreneur who learned everything the hard way. She never studied finance or business. Instead she worked hard and tried to learn as much about… Read more

by Derek Silva Nov 20, 2017

Many people dream about retirement as a time to relax, have fun or just do whatever they want. To have the retirement of your dreams, you’ll need savings. How much you need depends on multiple… Read more

by Derek Silva Dec 28, 2017

Farnoosh Torabi has spent years working in finance. She’s written about topics ranging from saving money on groceries to investing your money more wisely. She’s also the host of the award-winning… Read more

by Derek Silva Feb 02, 2018

You found a new job and can no longer contribute to your previous employer’s 401(k) or 403(b). If your new employer offers an equivalent retirement account, you can direct transfer the money from one… Read more

by Derek Silva Nov 13, 2017

Saving for retirement is important. We all know that but how exactly does one save for retirement? If you work for a for-profit company, one great way to save is through your employer’s 401(k). But… Read more

by Derek Silva Nov 10, 2017

Visa credit cards come with certain standard features that protect you as a consumer, but some cards offer additional benefits. Is your Visa credit card labeled as Signature? The Visa Signature… Read more

by Derek Silva Jan 08, 2018

The 52-Week Money Challenge first got a lot of coverage in 2013 when someone posted it on their Facebook page. Today it’s a very popular way for people to build their savings and create good saving… Read more