Comparing NewRetirement vs. Empower: Which Financial Tracking and Planning App is Right for You?

Title: NewRetirement vs. Empower: A Comparison of Financial Tracking and Planning Apps

In the world of personal finance, two popular platforms, NewRetirement and Empower, offer unique experiences tailored to different preferences and needs. Let’s take a closer look at these two apps to understand the best financial tracking and planning app for your financial goals.

NewRetirement, a software solution designed to track finances and provide advice for future financial planning, has helped 200,000 individuals build financial plans and managed over $200 million in assets. With features like retirement planning, financial account tracking, and access to Certified Financial Planners, NewRetirement aims to help users achieve financial independence.

On the other hand, Empower, formerly known as Personal Capital, offers a free personal finance app for tracking financial accounts with a focus on investments. With $1.4 trillion in assets under management and services used by over 18 million people, Empower provides tools for deep diving into asset allocation, investment fees, and overall portfolio management.

When it comes to features and services, NewRetirement offers three tiers of software and service combos, ranging from basic retirement planning to access to CFPs for comprehensive financial planning. Empower, on the other hand, provides free investment tracking software and a wealth management service for users with at least $100,000 in investable assets.

In terms of user experience and interface, NewRetirement’s dashboard focuses on retirement planning and offers actionable insights to help users make informed financial decisions. Empower’s dashboard highlights cash flow, net worth, and investments, with tools like retirement fee analyzers and investment checkups for long-term investment improvement.

Cost and pricing structures vary between the two platforms, with NewRetirement offering three pricing tiers and Empower’s pricing based on the size of the portfolio under management.

In conclusion, both NewRetirement and Empower offer unique strengths tailored to different financial needs. NewRetirement excels in action-oriented financial planning, while Empower stands out in investment analysis and wealth management. To choose the best platform for your financial journey, consider exploring both options and aligning them with your specific financial goals and strategies.