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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 Nov 12, 2019

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 adult foster care homes are at the low end of needed assistance while nursing homes and skilled nursing facilities are at the high end. Facilities also vary in environment and cost. Read on to learn about each type of long-term care facility and how they’re different from each other. And for help figuring out how you’re going to pay for eldercare, use SmartAsset’s financial advisor matching tool. Read more

by Javier Simon Nov 04, 2019

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 Alternative Investment Analyst (CAIA) specializes in alternative investments such as hedge funds and private equity. This professional must undergo 400 hours of study and pass two rigorous exams to earn the CAIA designation from the Chartered Alternative Investment Analyst Association. We’ll explain what a CFA and a CAIA do, what it takes to earn those designations and the difference between the CFA designation and the CAIA designation. If you are looking for a financial advisor who can help you with your investments, check out SmartAsset’s pro matching tool. Read more

by Javier Simon Oct 31, 2019

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 when taxes are due, since the top federal tax rate is 37%. So the best first step lottery winners can take is to hire a financial advisor who can help with tax and investment strategies. Read on for more about how taxes on lottery winnings work and what the smart money would do. Read more

by Javier Simon Oct 01, 2019

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

by Javier Simon Oct 01, 2019

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

by Javier Simon Sep 30, 2019

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

by Javier Simon Sep 30, 2019

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

by Javier Simon Sep 30, 2019

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

by Javier Simon Sep 30, 2019

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

by Javier Simon Aug 26, 2019

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

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… 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… 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… 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