Bogleheads On Investing Podcast · bogleheads

Episode 62: Steve Chen on DIY Retirement Planning Tech, host Jon Luskin

·41 min·2 clips

Steve Chen says NewRetirement is basically “a turbo tax for planning” with free and paid tiers.

1. Bogleheads On Investing Podcast Episode 62 focuses on Steve Chen and do-it-yourself retirement planning tech at NewRetirement. 2. Jon Luskin hosts, Steve Chen is founder and CEO of NewRetirement, and Rick Ferry is named as the regular host on summer sabbatical. 3. The episode asks whether software can help DIY investors plan retirement without relying on traditional asset-under-management advice. 4. Chen says his own retirement-planning work began when his mother needed help and most advisors he contacted could not help because she did not have enough assets. 5. He describes NewRetirement as “a turbo tax for planning,” with a free version, a $120 annual paid tier, and flat-fee access to coaches or CFPs. 6. He says the product does not manage money and instead helps users frame choices around work, downsizing, investing, and other scenarios. 7. He explains that planning enthusiasts already using spreadsheets pushed the product toward Monte Carlo modeling, scenario analysis, tax modeling, annuities, and Social Security timing. 8. Chen says the platform is intentionally unbiased because many planning providers are also selling products such as annuities or rollovers. 9. He argues that charging consumers directly avoids the problem of “If something’s free, then you’re the product.” 10. He says DIY planning should include investing, tax planning, insurance, and estate planning, not just portfolio construction. 11. Chen says classes, office hours, and a Facebook community help users learn together because one-to-one advice does not scale. 12. He says AI assistance in advice delivery is already happening and compares it to phone maps dynamically routing around traffic. 13. He says he is “largely equity heavy,” uses index funds, and no longer spends time watching the market. 14. He describes earlier behavior that included options trading and Forex, which he now treats as something he does not want to repeat. 15. He says a market drop of 30% should not automatically trigger panic if the plan is built around low fees, broad exposure, and a long horizon. 16. He says retirement risk includes longevity, inflation, long-term care, and fraud or elder abuse, especially when decision-making declines with age. 17. The interview format is a question-and-answer session built around listener questions from Bogleheads forums, Twitter, Facebook, and Reddit. 18. The tone is practical and technical, with repeated references to software features such as Monte Carlo Explorer, Roth conversion tools, and tax toggles. 19. People interested in DIY retirement planning software, Roth conversions, and scenario modeling would likely want this episode. 20. People looking for market commentary or a short investing story would probably skip it.

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