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Javier Simon

Banking, Retirement and Investing Expert

Javier Simon is a banking, investing and retirement expert for SmartAsset. The personal finance writer's work has been featured in Investopedia, PLANADVISER and iGrad. Javier is a member of the Society for Advancing Business Editing and Writing. He has a degree in journalism from SUNY Plattsburgh. Javier is passionate about helping others beyond their personal finances. He has volunteered and raised funds for charities including Fight Cancer Together, Children's Miracle Network Hospitals and the National Center for Missing and Exploited Children.

Posts by Javier Simon:

by Javier Simon Aug 20, 2019

Not to be confused with the appraised value of your home, the assessed value is what the government uses to calculate property taxes. Meant to be utilized regardless of market conditions, the assessed value is generally 20% to 40% lower than the fair market value. For that reason, prospective homebuyers won’t get far trying to bid an asking price down just on the basis of the lower assessed value. Instead, to afford the home of your dreams, consider working with a financial advisor who can help you grow your savings. Read more

by Javier Simon Aug 15, 2019

Chase You Invest Trade is a primarily app-based tool that allows you to create your own investment portfolio. When you open an account, you get 100 commission-free online stock and exchange-traded fund (ETF) trades in your first year. You can also access automated investments through Chase You Invest Portfolios, the bank’s answer to the robo-advisor. Both allow users to enter the world of investing. But if you don’t want to go it alone, we can help you find a financial advisor. Read more

by Javier Simon Aug 19, 2019

A high-net-worth individual (HNWI) is generally someone with at least $1 million in cash or assets that can easily be converted into cash. Most financial institutions provide HNWIs with exclusive services such as access to specialized investment accounts. Some financial advisors work solely with HNWIs, although many have no account minimums for their services. Whether or not you qualify as a high-net-worth individual, a financial advisor can help you manage your investments. Read more

by Javier Simon Aug 21, 2019

SEP IRAs and solo 401(k)s are tax-deferred retirement savings vehicles for small business owners. They’re similar to each other but with one big difference. With a solo 401(k), a self-employed… Read more

by Javier Simon Jun 12, 2019

If you want to move your individual retirement account (IRA) balance from one provider to another, simply call the current provider and request a “trustee-to-trustee” transfer. This moves money… Read more

by Javier Simon Jul 25, 2019

The IRS allows you to withdraw contributions from your Roth IRA penalty-free to buy your first home, plus up to $10,000 of earnings. But most financial advisors would recommend tapping into your… Read more

by Javier Simon Aug 21, 2019

You can have a 401(k) plan and an individual retirement account (IRA) at the same time. In fact, you can contribute up to the annual limit to each account, thereby maximizing your retirement savings.… Read more

by Javier Simon Jun 12, 2019

House auctions generally involve the sale of foreclosed homes at possibly below market value. They can serve as a low-cost gateway to homeownership. But home auctions also involve plenty of risk.… Read more

by Javier Simon Aug 21, 2019

For a Federal Housing Administration (FHA) loan to be approved, the home must pass an FHA inspection and appraisal. That means it must be worth the purchase price and have such basics as electricity,… Read more

by Javier Simon Jun 12, 2019

Renting out your house can open up a new stream of income and tax breaks. But it also adds another layer of responsibility. You’ll need to stay on top of repairs, maintenance and rent collection. But… Read more

by Javier Simon Jun 12, 2019

Last year, the average gross profit for house flipping was $65,000, according to property research firm ATTOM Data Solutions. This translates to an average 44.8% return on investment (ROI), which has… Read more

by Javier Simon Jul 18, 2019

Default risk in bond investing refers to the chance that a bond-issuing company or government would fail to make its debt and interest payments. As a bond investor, you can lose 100% of your… Read more

by Javier Simon Jul 31, 2019

The best active retirement communities for adults age 55 years or older offer world-class amenities like luxury golf courses and indoor pools, along with plenty of opportunities to socialize with… Read more

by Javier Simon May 07, 2019

The cost of baby formula across popular brands can average between $1,200 and $1,500 during a baby’s first year, according to the U.S. Surgeon General. But it’s possible to save on baby formula… Read more

by Javier Simon Apr 24, 2019

When you refinance a mortgage, you take out a new loan to pay off the old one. This time, you aim for a lower interest rate and better terms. However, refinancing a mortgage can be a risky process.… Read more

by Javier Simon Apr 24, 2019

The best IRAs offer robust investment menus, low fees and a wealth of tools to help you save for retirement. SmartAsset gathered data on the best IRA providers to help you find the one that’s right… Read more

by Javier Simon Aug 21, 2019

A subprime mortgage is a type of home loan issued to borrowers with low credit scores (often below 600) who wouldn’t qualify for conventional mortgages. They usually come with much higher interest… Read more

by Javier Simon Aug 15, 2019

Bonds and certificates of deposit (CD) are generally safe investments with little to no risk of reducing your principal. However, they have particular features that may suit different kinds of… Read more

by Javier Simon Jul 24, 2019

A marital trust is a type of irrevocable trust that allows you to transfer assets to a surviving spouse tax free. It can also shield the estate of the surviving spouse before the remaining assets… Read more

by Javier Simon Mar 26, 2019

Your employer may allow you to make after-tax 401(k) contributions. These are not tax deductible like your regular 401(k) contributions. But you can make after-tax deferrals beyond the annual 401(k)… Read more

by Javier Simon Mar 27, 2019

If you picture living in a planned community full of amenities and happy neighbors, you’re probably asking yourself: How much are homeowners association fee (HOA fee)? Some studies suggest that you… Read more

by Javier Simon Mar 27, 2019

A mortgagee is a lending institution that issues mortgages. In most cases, the mortgagee is a bank or credit union. The mortgagee has special legal rights on the real estate that mortgages are tied… Read more

by Javier Simon Mar 21, 2019

To qualify for Medicaid, you have to meet certain income requirements. This is a federally-run health insurance program designed to help the needy access quality healthcare. Eligibility varies by… Read more

by Javier Simon Mar 21, 2019

If you’re thinking about opening a traditional individual retirement account (IRA) or Roth IRA, you have some major tax benefits to look forward too. However, these aren’t one-size-fits-all accounts.… Read more

by Javier Simon Mar 18, 2019

Many retirement planners suggest the typical 401(k) portfolio generates an average annual return of 5% to 8% based on market conditions. But your 401(k) return depends on different factors like your… Read more