In addition, PC charges an annual management fee (ex. Personal Capital requires a minimum of $100,000 in investment assets. The other main difference between Personal Capital and NewRetirement is the access to an advisor and the fee structure. Being able to accurately budget and invest well are both keys to a happy retirement. Personal Capital is more focused on investing. What you may find helpful about NewRetirement is they are highly focused on budgeting.
#New retirement planner plus reviews free#
Thus, I think it’s always worth taking advantage of other tools out there, especially when they are free to play around with. With that said, how is NewRetirement different from Personal Capital and are they worth exploring? Frankly, retirement is such a huge milestone in everyone’s life. And as a regular user of Personal Capital, I still highly recommend taking advantage of their free services. I also consulted for Personal Capital and know Bill Harris, the founding CEO. Regular readers know I’ve been a long-time user of Personal Capital‘s retirement, net worth, 401(k) fee analyzer, asset allocation and other financial tracking tools. NewRetirement’s 1×1 Financial Services Offerings How Is NewRetirement Different From Personal Capital? You can also request a free initial consultation through their website. Here’s a look at NewRetirement’s 1×1 financial services offerings. In addition, you can get help if changes arise in your lifestyle, career, financial needs, or goals. This is an efficient way to get answers to new questions that arise in your journey. If you want continued support, you can get additional advice from your Advisor anytime for $200/hour. It includes a 1 hour consultation Meeting, an expertly crafted retirement plan based on your individual needs, and a 1 hour review meeting to discuss the plan and answer questions. If you prefer to get direct help from a Certified Financial Planner (CFP), they offer an Advisor package starting at $500. Then, you can schedule follow-on 30-minute sessions for only $50 as needed if you want more help. An initial plan review session runs 45 minutes for just $99.
They offer personalized 1×1 financial coaching with no long-term commitment. NewRetirement offers flexible financial services options. Here is a summary of the features for each version. Both of the paid plans come with a free trial. There are currently three different pricing plans for the online retirement planner ranging from free to only $125/year. Here is a breakdown of their various plans NewRetirement Planner Pricing Plans NewRetirement has both free and paid services. Virtual Financial Advisor (coming soon).Calculators for retirement, social security, lifetime annuity, reverse mortgage.Some of the resources and services offered by NewRetirement include: This in turn can help you save time and stress. Users like you can utilize their technology to gain confidence, achieve financial independence, and maximize your money. NewRetirement wants to bring financial planning to the mass market at a very low cost. As NewRetirement focuses on helping everyone achieve financial independence, it will likely attract a younger audience over time. The typical user demographic of NewRetirement’s retirement tool is between 50 – 65 years old, has an average of $1 million and a median of $600,000 in investable assets, and $400,000 in home equity. The company has a growing user base of 100,000+ DIYers. NewRetirement was voted best retirement tool by Forbes, and the American Association of Individual Investors. In addition, he worked as a consultant for Charles Schwab, Fidelity, Dimensional Fund Advisors, and others. He also bootstrapped a profitable 7-figure consulting firm and a separate performance marketing firm.
Stephen Chen, Founder and CEO of NewRetirement Independent and built from the ground up, the company is gaining traction.īefore founding NewRetirement, Chen co-founded a VC-backed company that raised $40M and filed to go public (got sold). Wanting a better DIY solution than just using spreadsheets, NewRetirement was born. They quickly realized that since their college educated, entrepreneurial mother (co-owned an advertising business) was struggling with her retirement transition, surely millions of others are too. But after a good 5+ years of development and refinement, I’m excited to share my thoughts on NewRetirement with all of you.Ĭhen was inspired to launch NewRetirement when he and his brother Tim witnessed their mother struggling with her own retirement planning. NewRetirement originally reached out to me in 2017 and I passed. NewRetirement raised $2.2m in 2018 from 2 key investors, Guggenheim Partners and Intercept Ventures.
The company’s objective is to enable people to help themselves with a DIY retirement planning solution. NewRetirement was founded in 2015 by Stephen Chen and is based in the San Francisco Bay Area.
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