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:
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 business owner can make contributions as both the employee and the employer. We’ll explain everything you need to know to make the call between a SEP IRA and solo 401(k). If you don’t know where to begin to set up the plan the best fits your needs, a financial advisor can help. Read more
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 directly from one financial institution to another, and it won’t trigger taxes. However, you must follow some rules in order to do it right. We’ll walk you through the direct IRA transfer process. To make sure you’re moving your savings to the right place, consult a financial advisor who can carefully analyze your individual situation. Read more
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 retirement savings only as a last resort. Luckily, you have plenty of alternatives. Here’s what you need to know to determine whether using your Roth IRA as a first-time homebuyer is the right move for you. Read more
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