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:
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
FINRA BrokerCheck is a free, online research tool providing information about individual brokers, investment advisors and the firms that employ them. The database contains details like registrations,… Read more
If you’re trapped under a pile of debt, bankruptcy may be your last resort. Chapter 7 bankruptcy is the most common form. It can wipe out your debt and give you a fresh start. This article will… Read more
After working hard and saving diligently for retirement, you may find that your nest egg won’t take you far in the U.S. But don’t fret. You may be able to stretch your dollar further outside the… Read more
