Personal Capital vs NewRetirement: DIY Retirement Planning

[@mike73ng]

I use both. PC for tracking net worth and performance and NR for planning. The planing feature is far more valuable for me. I especially like the Roth conversion applet and the ability to adjust taxes to after 2025 when the current rates sunset.

[@dpeacock8975]

Great video! I started using PC and I like it, but I’ve been looking for a planning app like NR. I’ll definitely check it out. Thank you for this video, very helpful!

[@HB-yq8gy]

Great video with the explanation very simple. I just had to be focus. I lost interest before but after watching a couple videos I think I got it for the most part but what I need.

[@lese3824]

Using both applications now. I purchase the NR plus because of the Roth conversion and withdrawal strategy. Thank you for the video and your thoughts. I am sharing your video with others.

[@RetirementPlanningClub]

Great! If you want in-depth guidance and weekly coaching, join the Retirement Planning Club :)

[@tomheaton3101]

I use both. I think you are right that using both as a DIYer is a good idea. I also combine that with Fidelity's retirement tool.

[@jonathandaniels9910]

That is exactly what i do as well. NR needs to make everything in Todays dollars tho, not nominal

[@mm669]

Updating and synchronizing the linked accounts is a nightmare on Personal Capital.

[@scottparcel1221]

Great video. Do you know why Personal Capital does not seem to apply inflation to the retirement spending? They say they do, but looking at the table, even in your video, the spending column does not go up.

[@stevenlittlewood4324]

And after months w PC I still get a call every ?2 months or so, I just say no thanks, but it gets annoying. I’m never going to pay advisory fees that are a percentage of AUM!

[@HB-yq8gy]

Thank you Personal Capital is simple to link accounts. New Retirement is glitchy 15 minutes to auto-link one account. I added some manually but, hard to see where in Account & Assets.

[@MrGam3on]

Nice review, thanks! I don’t see my mortgages in Personal Capital’s ‘Retirement Planner’. Am I missing something, or are they not included by design? I do have my mortgages linked on the dashboard, but don’t see any way to include them in the ‘Retirement Planner’. Probably user error, but what good is the resulting Monte Carlo analysis if my largest expenses aren't included?!

[@missouri6014]

Yes do Fidelity’s and you can do it for free it’s actually better

[@PH-dm8ew]

I find all these platforms skew towards being a bit too positive in their results, probably due to how they choose their future growth assumptions. wish i could see what the rates they use are. ficalc and projection lab are two other good ones.

[@RetirementPlanningClub]

Agree. Most people are a bit too optimistic with return assumptions. I always like to error on the side of caution. NewRetirement uses a default of 5% for optimistic, and 2% for pessimistic, but you can change this to whatever you want it to be.

[@MrGam3on]

Agree, and would argue the retirement forecasting features of these tools can be dangerous if you don’t know what you’re looking at. Their outputs are only as good as the inputs (garbage in, garbage out) and even then, there are many underlying calculations and assumptions that are hidden from view. I’d say proceed with caution when using any of these tools.

[@bobby350z]

Can't you enter your return assumptions? I am just playing with the NewRetirement from yesterday and it was pessimistic and optimistic return settings for each account.