NewRetirement Seeks to Revolutionize Retirement Planning with Holistic Approach

Stephen Chen founded NewRetirement, a Mill Valley-based company, after helping his mother navigate her retirement finances. Unable to find a financial adviser willing to assist due to her net worth, Chen took matters into his own hands, developing spreadsheets and financial models to help his mom achieve financial independence.

Realizing that many older Americans faced similar challenges, Chen created NewRetirement to provide software for financial retirement planning. Their products cater to 70,000 users managing nearly $100 billion in financial plans, offering comprehensive models that consider various factors like savings, investments, home equity, healthcare costs, taxes, Medicare, and Social Security.

NewRetirement’s platform runs thousands of simulations to help users optimize their plans, accounting for different scenarios and enabling confident accumulation and decumulation projections with digital guidance.

Chen’s previous startup, Embark, was an online college search and admissions tool. With NewRetirement, Chen aims to address the financial concerns of millions of Americans over 50, recognizing that despite holding significant wealth, many still fear running out of money in retirement.