Steve Chen started NewRetirement after his mother, worth $250,000 but needing $10,000, was ignored by traditional advisors. He built a spreadsheet tool that combines part-time work, Social Security, Medicare, home equity, and insurance to map lifetime income. It's designed for baby boomers who want to plan retirement without a financial advisor.
Questions this video answers
$10,000
$250,000
75 million
Chapters
Are you worried about retirement and how.
To pay for it?
I'm the founder of New Retirement. I've worked with thousands of people over the years. Pretty much everyone comes to us and whether or not they have $50,000 or $5 million, everyone's worried about how I'm going to pay for my future, will I have enough money, how will I manage the situation? The reason we started this company is that my mom came to me and my brother in her early 60s and she needed to borrow $10,000. Her net worth was about a quarter million bucks. And she just wasn't attractive to a traditional financial advisor. And when we looked at her situation, which we're incentive to do because we didn't want to end up having to write checks to her for $10,000 a.
Year, we found that the solution was.
Really how do you put all of her resources together holistically in a highly efficient way that delivers her a lifetime income that makes her really confident so she doesn't have to worry about this at night.
And so we did this on a spreadsheet and basically we helped her think about part time work, Social Security, Medicare.
Home equity, you know, whether or not to use certain insurance products like long.
Term care, annuities and products like that.
And you know, whether or not to.
Downsize and things like that.
And we delivered the solution.
You know, we helped her create savings, we helped her create income, and she was a lot more confident and happy. And so we did that and we looked around and we said, hey, guess what?
There's 75 million baby boomers out there.
You know, that have the same problem.
Pretty much everybody has the same problem.
So we turned that into retirement.
And so what we've done now is we've delivered essentially the Google Maps of financial independence.
We help people think about how to put together all of their assets into.
An integrated plan that they can understand.
So we want people to understand and be educated first. You know, what are their options.
Why.
Should they make certain decisions and if they do decide to take a certain decision, how do they act on it and get the best price possible?
So essentially that's what we're delivering.
Our users get a level of confidence and control that they never had before. We have built this company from the.
Ground up to be perfectly aligned with our users. We are paid by our users. We are transparent about our pricing. We are here to serve them. They understand what they're doing, why they're doing it, how to take action. And they can monitor and manage this over time and get to a level of confidence that they never had before. So I encourage you to check out new retirement. We believe it's the best solution available, and many of our users tell us the same thing every day.
