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:
Most retirement experts recommend you contribute 10% to 15% of your income toward your 401(k) each year. The most you can contribute in 2019 is $19,000, and those age 50 or older can contribute an extra $6,000. In 2020, you can contribute a maximum of $19,500. Those age 50 or older will be able to contribute an additional $6,500. However, you can use our 401(k) calculator to figure out how much you can expect to earn based on any contribution amount you choose. Read more
The median financial advisor pay in 2018 was $88,890 – well above the national average, according to the Bureau of Labor Statistics (DOL). However, pay can vary widely by state, city and level of experience. The profile of your clientele can have an effect as well. We’ll cover all you need to know about financial advisor compensation as well as job requirements and career outlook. Read more
Buying a home requires just as much care as any other significant investment. If being a first-time homebuyer is a part of your American dream, it’s important to choose a home that fits your budget based on your savings at the same time that it meets your other lifestyle needs. First-time homebuyers might find the home-buying process especially daunting, but there are many programs out there to help make it easier. And location, of course, is a crucial factor. Local market conditions, such as how stable the housing market is, can sometimes make all the difference. To help you get a better sense of where to start looking, SmartAsset created this list of the best cities for first-time homebuyers. Read more
Small towns have their charm and big cities offer great opportunities, but what if you’re looking for something in between? Unlike a large metropolis, a small city tends to have a more affordable… Read more
According to Census Bureau data from 2017, there are more than 71 million people in the U.S. aged 60 and older. Each year more people reach retirement age and decide to make some changes as they… Read more
If you’re looking to raise a family, the city you call home can affect many parts of your life. It potentially impacts the jobs available to you, how much you earn, how much it costs to live… Read more
In about 62% of two-parent households, both parents work, according to 2017 data from the Bureau of Labor Statistics. That’s up about 1% from the previous year. Not only are more parents working, but… Read more
Once you’ve put in the work to get a degree, you’ve got a big decision ahead of you: Where to start your career? For those who have the ability to relocate, choosing the right city can make a big… Read more
Saving for a home can take years, which sometimes makes the idea of switching from renting to buying a daunting one even if you have some help. But if you’re on your own, buying a home can be even… Read more
An investment portfolio is a basket of assets that can hold stocks, bonds, cash and more. Investors aim for a return by mixing these securities in a way that reflects their risk tolerance and… Read more
The latest data from the U.S. Census Bureau shows that women earn approximately 80% of what men do. Though the work to achieve pay gap equity is far from finished, it’s important to recognize the… Read more
Owning a home is an important financial goal for many Americans. Data from the U.S. Census Bureau shows that at the end of 2018, approximately 64% of people owned their homes. Whether homeownership… Read more
Running is an accessible sport that allows you stay active while saving some money. Of course, one of the biggest requirements for runners is the space to run. That could mean open space, like parks… Read more
Different places attract particular residents due to a variety of factors such as job opportunities, climate or lifestyle. Though an ultimate constraint is the cost of a home, some markets seem to… Read more
Selling a house is a major decision that demands careful consideration. After all, securing more money from selling your home gives you more capital to invest with your financial advisor. Your… Read more
It costs more than $233,000 to raise a child through age 17, according to the U.S. Department of Agriculture. Given that high cost, you want to know that you’re living in a place that is conducive to… Read more
Hockey may not be the most popular sport in America, but it enjoys a strong fan base. Its following is also growing: Since we last did this study, the National Hockey League has even added a new team… Read more
If you find yourself with some extra money – let’s say you got a big tax refund, or received a nice inheritance – then you’ll need to decide what to do with it. If you have a mortgage worth hundreds… Read more
Stock investing comes with risk, so it’s a good idea to research companies before you invest in them. EBITDA is a popular metric that analysts and investors use for determining the current… Read more
If you’re building your retirement saving, 401(k) plans are a great option. These employer-sponsored plans allow you to contribute up to $19,000 in pre-tax money in 2019 and $19,500 in 2020. Some… Read more
As an investor, it’s important for you to choose the right stocks and funds for your portfolio. If you’re picking your own investments instead of working with an advisor, then you may want to… Read more
A balance sheet is one of three financial documents that every investor should check when researching a company to invest in. The other two are an income statement, which looks at a company’s profits… Read more
If you have $30,000 to invest, you have many options. Some things, like making the down payment on a house, might be a bit out of reach, but you can still invest in securities ranging from stocks to… Read more
The U.S. experienced a partial government shutdown from Dec. 22, 2018 to Jan. 25, 2019. This 35-day shutdown was the longest in U.S. history and disrupted the service of multiple federal agencies,… Read more
So you’ve got $100,000, and you’re ready to invest it. Maybe a relative has passed away and left you money in a will. Maybe you’ve been building up savings in a retirement account and you’re finally… Read more
