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:
The SECURE Act provides more part-time employees with access to tax-friendly workplace retirement plans like 401(k)s. Signed into law by President Trump on Dec. 20, 2019, it also lets individual retirement account (IRA) holders save in these plans indefinitely with tax-deferred growth. In addition, the SECURE Act makes it simpler for employers to place annuities into their retirement plans. Annuities can offer guaranteed income streams in retirement. But because annuities and other aspects of this sweeping new law can be complex, it’s best to discuss how the SECURE Act may affect you with a financial advisor. Most changes take effect January 1, 2020 while some begin in 2021. Read more
A 55-year-old can expect to pay a long-term care insurance premium of $2,050 per year on average, according to a 2019 price index survey of leading insurers conducted by the American Association for Long-Term Care Insurance (AALTC). That will cover $164,000 in benefits when the policyholder takes out the insurance and $386,500 at age 85. (Policies often include an inflation rider.) However, long-term care insurance costs vary widely, depending on factors like your age, health condition and the specific policies of your insurance carrier. The AALTC estimates that a single 55-year-old can pay around $1,325 to $2,550 a year for a policy. That’s why it’s important to shop around to find the best rates and terms. You should also speak with a financial advisor who can help you plan the future. Read more
The average cost of assisted living was $4,000 a month in 2018, according to Genworth Financial, which has been tracking costs since 2004. Across the country, though, the price of assisted living varies widely depending on such factors as location, facility size and amenities. If you’re not sure whether or how you can afford this type of living arrangement, our free matching tool can connect you with a financial advisor. Here’s what you need to know about the costs. Read more
Though probably the most well-known, nursing homes are just one of many types of long-term care facilities available to seniors. Facilities vary by level of services. Assisted living residences and… Read more
A chartered financial analyst (CFA) is a financial advisor who has earned the title of CFA through extra accreditation, including a rigorous three-part test, from the CFA Institute . A Chartered… Read more
Before you see a dollar of lottery winnings, the IRS will take 25%. Up to an additional 13% could be withheld in state and local taxes, depending on where you live. Still, you’ll probably owe more… Read more
A Delaware living trust bypasses probate and can ensure that your assets and property transfer promptly to your loved ones after you die. The costs of setting up a living trust can be high, though,… Read more
A Nebraska living trust allows your heirs to receive your estate without the delay or interference of the court. A will, on the other hand, must go through probate before your estate can be… Read more
If you plan to leave a substantial amount of assets and property to your loved ones, an Indiana living trust can simplify the process. By transferring your assets to a living trust, you will enable… Read more
If you’re planning for your estate after you die, you’re probably considering setting up a living trust. The legal document will enable your heirs to skip probate, which is considered a lengthy court… Read more
Setting up a living trust in Missouri can help your heirs receive your estate promptly. It does this by avoiding probate, which can take some time in the state, since it has not adopted the Uniform… Read more
If your estate is worth more than $200,000, you should consider creating an Oklahoma living trust. This estate planning tool allows your heirs to receive your assets without waiting for probate,… Read more
Generous company 401(k) matches are great. But if your retirement plan offers few investment options or has high fees, even the best 401(k) match may leave your retirement savings coming up short.… Read more
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… Read more
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… Read more
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… Read more
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
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
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
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
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
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
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
Flipping houses is popular, and not just on reality shows. Last year, the average gross profit for house flipping was $65,000, according to property research firm ATTOM Data Solutions. This… Read more
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
