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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 Jan 07, 2022

There are many reasons your tax refund could be delayed. Perhaps your numbers and your employer’s numbers didn’t match. Or you accidentally skipped a line—or an entire form. Or maybe you claimed a credit that the IRS takes longer to check. This year, however, the mostly likely reason your tax refund is delayed is that you filed a paper return.There was an additional backlog of tax returns created by the COVID-19 pandemic. While IRS workers have been back at work for a while, there is always a chance this is still impacting your return. Of course, the reasons for a delayed tax refund before the coronavirus crisis may still apply. Read on for more reasons and how to prevent future delays. Go beyond taxes to build a comprehensive financial plan. Find a local financial advisor today. Read more

by Derek Silva Oct 22, 2021

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 in savings. There isn’t just the dangerous issue of running out of savings, but you can also hurt yourself by not spacing out your spending. This is where a retirement budget really helps, as it will account for all of your income and expenses in a comprehensive and long-term manner. Do you need professional help with your retirement budget? Speak with a local financial advisor today. Read more

by Derek Silva Aug 06, 2022

When you file a federal income tax return, you have the choice between taking the standard deduction or itemizing your deductions. The option that you pick should depend on which strategy will maximize your tax benefits. Your calculations may also have changed in recent years following the passage of President Donald Trump’s Tax Cuts and Jobs Act in 2017. Here’s a look at who should itemize under the new tax plan. Working with a financial advisor can help you optimize a tax strategy for your financial goals and needs. Read more

by Derek Silva Sep 16, 2021

Regardless of your age, making sure you have enough money for retirement takes strategic planning. The hope is that you’ve been actively saving money for years. Garnering $1 million in your… Read more

by Derek Silva Jul 23, 2019

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 Aug 04, 2022

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

by Derek Silva Aug 04, 2022

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

by Derek Silva Jan 12, 2022

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 Aug 01, 2019

We all know that we should save for retirement, but actually doing that is a challenge. There are a few basic rules to follow, though, that can help you figure out what your goal should be and how to… Read more

by Derek Silva Dec 28, 2021

After the COVID-19 pandemic pushed back the filing deadline for federal income taxes two years in a row, taxes for the 2021 tax year will once again be due in April. Circle April 18, 2022, on your… 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 Jan 13, 2022

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 Apr 06, 2022

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 to make the process easier. Two of the… Read more

by Derek Silva Dec 10, 2019

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 Feb 18, 2020

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 Aug 15, 2019

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 Jan 13, 2022

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 Dec 28, 2021

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

by Derek Silva Jan 12, 2022

Putting away money for retirement can be an arduous process. Once you figure out how much you need to save to retire, the real planning begins. There are a number of retirement savings options… 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 Mar 08, 2022

Imagine a world where you don’t have to constantly stress about money. You have enough to cover your bills, regular expenses, hobbies and more. Beyond that, you want to manage your finances so you… Read more

by Derek Silva Jan 18, 2022

According to a recent Employee Benefit Research Institute (EBRI) Retirement Confidence Survey, many people think they’re doing a good job financially preparing for retirement. EBRI found that over… Read more

by Derek Silva Sep 12, 2018

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 Jul 23, 2019

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