New Retirement Review

Article Overview: This article covers what I know about New Retirement, a service for individuals looking to prepare for retirement and get guidance when it comes to their retirement or investments. This is my official review where you’ll learn about the planning tools they have, how they operate the business, the onboarding process, and most importantly, what I think about the business. Keep reading to learn more today.

New Retirement Plan


New Retirement Review (Full Breakdown)

NewRetirement doesn’t limit itself to mere budgeting and investments; it aspires to provide a holistic solution that empowers users to master their retirement journey. Going beyond financial aspects, such as taxes and investments, the platform considers multifaceted elements like income, real estate, debts, goals, medical concerns, and many other variables.

By considering this wide array of factors, New Retirement ensures that users gain a clear perspective on their retirement status and receive guidance on staying aligned with their goals.

The financial planning tools provided by NewRetirement prioritize user autonomy and user-friendliness. The platform’s interface is designed to be intuitive and straightforward. Moreover, the platform offers a wealth of supplementary materials for those who wish to deepen their understanding of retirement matters. For those seeking an even more comprehensive service, there’s the option to upgrade to either PlannerPlus or PlannerPlus Academy.

For a detailed insight into what NewRetirement brings as a retirement planning tool and to determine its suitability for your needs, continue reading our in-depth NewRetirement review.

What is this New Retirement Planning Tool?

NewRetirement offers a range of retirement and tax planning tools, both free and paid, that go beyond the capabilities of a traditional broker retirement calculator.

Among the features provided by NewRetirement are:

  • A customizable retirement planner
  • Personalized coaching recommendations
  • Comprehensive graphical representations
  • Tracking of net worth
  • Packages for financial advisor services

Completing a basic questionnaire, which takes less than ten minutes, allows you to generate projections of your retirement progress. Following the initial assessment, you can tailor your answers to refine your plan further.

Unlike Empower, which focuses on investment tracking, NewRetirement’s retirement planner functions more like a budgeting application. However, integration with financial accounts is only possible by upgrading to the paid PlannerPlus version.

Access to one-on-one financial advisor sessions is also contingent on a purchase. Nonetheless, most of the platform’s features can be utilized with its “forever free” membership tier.

Understanding How NewRetirement Operates

If the prospect of retirement is on your mind as a self-employed individual, NewRetirement has the potential to assist you greatly. The software engages in a conversational process with you, crafting a personalized, all-encompassing, and long-term financial strategy. Initiating this process is straightforward.

The array of financial instruments provided by NewRetirement instills confidence in your financial well-being and your decisions concerning retirement. Running through hypothetical scenarios and making minor adjustments allows you to identify the optimal solutions for your situation.

For instance, New  Retirement permits you to create budgets across 75 different categories, fine-tune your retirement income projections, assess your investment portfolio, and evaluate the influence of your mortgage on your retirement plans. Additionally, the platform calculates your Required Minimum Distributions (RMDs) and demonstrates their implications on your tax obligations.

Within NewRetirement, you can also delve into your Monte Carlo analysis outcomes and receive notifications from the coaching feature. Despite being a free tool for financial planning tailored to retirement readiness, it encompasses an array of tools that you’ll likely find endless in utility.

What Can You Expect from This Comprehensive Retirement Planning Tool?

Beyond the outlined features, NewRetirement continually introduces fresh functionalities every week. It also hosts Live Events, encompassing live demonstrations, “Ask Me Anything” webinars, and interactive Q&A sessions.

While a mobile app is developing, you can engage with the NewRetirement podcast app, which is exclusively accessible on the App Store.

Setting Up Your Account

While establishing your account, you can choose between a Quick or Comprehensive setup. While the quoted time difference is around six minutes, it’s worth noting that entering an extensive portfolio of asset allocation might extend beyond eight minutes.

Range of Services

Upon completing your NewRetirement account setup, you’ll be directed to a dashboard that offers an overview of your bank and financial accounts and presents the myriad wealth management services available through NewRetirement. These services encompass:

  • My Plan

    This section encompasses a spectrum of facets, including Assumptions, Profile and Goals, Money Flows, Estate Planning, Expenses and Healthcare, Income, Debts, Home and Real Estate, and Accounts and Assets.

  • Coach

    Here, you’ll discover tailored recommendations and guidance to assist you in crafting a personalized retirement plan.

  • Insights

    The Insights Library encompasses retirement planning resources like Surplus-Gap, Withdrawals,Savings Needed Forecast, Savings Timeline, Taxes, Retirement Savings, Income and Expenses, Timeline of Milestones, Projected Net Worth, Lifetime Cash Flow, Analysis of Goals, Net Worth Statement, and Lifetime Income Protection.

  • Explorers

    These services empower you to navigate potential scenarios across various projection points.

While the range of available services might initially feel overwhelming, dedicating a few minutes each day to explore these features and understand how they contribute to your retirement planning can be beneficial.

Customizable Reminders

NewRetirement provides the flexibility to set reminders according to your schedule. Choose from weekly, monthly, quarterly, or annual reminders to align with your specific needs.

Accessible Help and Resources

In times of need, the lower left-hand corner of the dashboard screen grants access to Help & Resources, Events & Communities, and Expert Help & Services. Information regarding Scenarios and details about the company can also be found in this section.

How Much Is This Retirement Financial Planning Tool?

Although NewRetirement’s Basic plan lays a solid groundwork for retirement planning, the paid plans – PlannerPlus and PlannerPlus Academy – introduce various supplementary features and resources to empower users to make more informed decisions and feel assured about their financial future. This section will delve into the pivotal advantages of paid plans and their potential to elevate your retirement planning journey.

Expanded Set of 100+ Planning Inputs

Upgrading to the PlannerPlus tier grants you access to an extensive collection of over 100 additional planning inputs. This expanded scope enables a deeper exploration of your financial situation’s intricacies.

As a result, you gain increased customization and a heightened precision in envisioning your financial trajectory, enabling you to make well-informed choices.

Real-Time Monitoring of Net Worth

The inclusion of real-time net worth monitoring allows you to track your progress toward financial objectives and enact adjustments as required. This feature amalgamates all your financial accounts into a coherent depiction, enabling you to stay vigilant over your financial landscape and ensure alignment with a secure retirement trajectory.

Tailored Recommendations from a Personalized Financial Advisor

Embracing the Certified Financial Planner Plus plan introduces personalized digital coach recommendations into your arsenal. These tailored suggestions stem from a careful evaluation of your unique financial circumstances. By identifying optimization prospects and potential pitfalls, these suggestions amplify the effectiveness of your retirement planning strategy.

Interactive Explorations and Profound Insights

Subscribers to the PlannerPlus package relish interactive explorations and in-depth insights, enabling a comprehensive grasp of their financial landscape and the exploration of diverse scenarios. This heightened interactivity and depth equip users to render informed decisions and cultivate confidence in their retirement schemes.

Comparative Analysis of Scenarios

The ability to compare varying scenarios empowers you to gauge the consequences of diverse choices on your financial outlook. This functionality lets you assess your alternatives meticulously and deduce the optimal route to realizing your retirement aspirations.

Engagement in Live Q&A Sessions and Introductory Planning Classes

As a beneficiary of the PlannerPlus subscription, you gain entry to live Q&A sessions and Introduction to Planning Classes. These resources furnish invaluable guidance and support, aiding your navigation of the intricacies associated with retirement planning. This knowledge infusion bolsters your aptitude and assurance in managing your financial horizon.

Benefits of the PlannerPlus Academy

Opting for the PlannerPlus Academy tier augments your privileges, presenting various advantages. These include comprehensive live classes featuring monthly novel themes, unrestricted access to all recorded classes, and priority product support. This suite of resources fosters an enriched understanding of retirement planning intricacies and empowers you to deliberate over your financial destiny adeptly.

For individuals contemplating an upgrade, two paid subscription options are available, both billed on an annual basis:

  • PlannerPlus | $120/year
  • PlannerPlus Academy | $270/year

Moreover, you can explore the benefits of PlannerPlus through a complimentary 14-day trial.

Who Are The Ideal Candidates for NewRetirement Financial Planning Tools

NewRetirement endeavors to accommodate diverse users, although certain demographics might discover the platform to be particularly advantageous. Let’s delve into the individuals best aligned with NewRetirement and explore how the platform can augment their journey toward retirement planning.

Self-Directed Retirement Financial Planners

NewRetirement is an optimal selection for individuals who favor a hands-on approach to their retirement planning.

The platform’s intuitive interface, extensive toolset, and scenario analyses render it effortless for users to construct and manage their personal retirement blueprints, negating the necessity for professional financial consultancy.

Approaching Retirement Age

Those on the cusp of retirement find a comprehensive toolkit within NewRetirement to prepare for this significant transition.

By delivering meticulous calculations, scenario evaluations, and personalized suggestions, the platform assists users in refining their retirement blueprint, guaranteeing a path toward a secure and comfortable retirement.

Aspiring Early Retirees

NewRetirement is equally fitting for individuals striving for early retirement or financial independence. The platform’s capacity to model diverse scenarios, encompassing variables such as investment growth, tax implications, and evolving expenses, empowers users to discern the repercussions of varying strategies on their objectives of early retirement.

Seekers of Affordable Financial Guidance

Individuals whose budget doesn’t align with traditional financial advisory services discover a budget-friendly remedy in NewRetirement. Its robust free version package and reasonably priced subscription tiers allow users to access invaluable resources, tools, and support while maintaining financial prudence.

Optimization Enthusiasts of Retirement Strategy

NewRetirement is valuable for individuals exploring diverse pathways to enhance their retirement strategy. Whether pondering relocations, Roth conversions, or recalibrating investment distributions, users can experiment with assorted scenarios to ascertain the most suitable approach based on their distinctive circumstances.

Pursuers of Enhanced Retirement Insight

NewRetirement offers a treasure trove of resources, classes, and coaching avenues for those desiring to enrich their comprehension of retirement planning.

This renders the platform an exemplary choice for individuals yearning to delve deeper into the intricacies of retirement planning, equipping them to execute well-considered decisions regarding their financial prospects.

Overall Conclusion

NewRetirement stands as a potent and all-encompassing tool for retirement planning, presenting an array of functionalities and resources to empower individuals in shaping their financial destiny.

Embracing a substantial free tier and reasonably priced premium subscriptions, it accommodates various requirements and inclinations. This renders it a compelling choice for those striving to fine-tune their retirement approach.