Alan Chen’s (‘17) financial literacy background began while growing up in a low-income household. An alumnus of the Macaulay Honors College program at Baruch College with a BBA in Technology Entrepreneurship, he merged his life experience and academic knowledge to become a personal finance expert.

Having witnessed the consequences of poor money management and early retirement planning firsthand, he aims to empower others with the knowledge to help them achieve a financially stable and fulfilling future. By day, a software engineer, and by night, a financial literacy digital content creator and webinar leader for the Baruch College Office of Alumni Relations, Chen’s dedication to fiscal education keeps him busy.

We spoke to Chen about his expertise, webinars, YouTube videos, and more. To get his advice, register for his alumni webinars on financial independence and retiring early (FIRE) and what to do with your first paycheck.

When did you first become interested in financial literacy?

For most of my college career, financial literacy was not a priority because I was in survival mode. My main concern was making it through each semester with a positive balance in my bank account. However, everything changed when I received my first full-time job offer. Seeing that single number on a PDF was not just a salary; it was an opportunity to break the cycle of living paycheck to paycheck and uplift my family.

Determined to take control of my financial future, I spent the two months before graduating from Baruch College immersing myself in personal finance. I devoured everything from Reddit threads and finance blogs to the IRS website, eager to build a strong foundation. By the time I started my role at Rent the Runway, I had already crafted a comprehensive financial plan with a budget and key milestones that included building an emergency fund, maximizing my 401(k), and strategizing for future salary negotiations.

Even today, I continue refining my approach. Financial literacy is not a one-time achievement; it is a lifelong journey of learning, adapting, and striving for greater financial security and independence.

What inspired you to start creating financial literacy content and leading webinars?

Once my friends realized that I had a solid understanding of personal finance, they began reaching out for advice. It quickly became clear to me that financial literacy was not as common as it should be. Many studies highlight the lack of basic personal finance education in our school system, and the impact of this gap is significant. 

According to CUNY, in 2021, 34 percent of undergraduate students came from households earning less than $20,000 annually. Coming from a low-income background myself, I deeply understand the challenges of gaining financial knowledge without access to the right resources. That realization inspired me to turn my passion into a way to give back to the CUNY community by sharing unbiased financial literacy education. I am committed to providing my webinars and financial coaching sessions to CUNY for free.

I am incredibly grateful to Baruch College, Hunter College, and Macaulay College for giving me a platform to teach and lead discussions. Over the past eight years, I have had the privilege of working with countless individuals, and together, we have made a meaningful impact. Financial literacy has the power to transform lives, and I am honored to be part of that journey.

What’s your favorite topic in personal finance?

Ever heard the saying, “Money cannot buy happiness”? While there is some truth to it, I would be naive to agree with it completely, since happiness is deeply personal. However, one thing we can all agree on is that money can buy financial independence. The goal of financial independence is to build enough wealth that work becomes a choice rather than a necessity. It grants complete freedom over how you spend your time, whether that means continuing your career, traveling the world, or giving back by teaching financial literacy.

There are countless paths to financial independence, yet it remains a rarity in America. My mission is to provide a clear roadmap for people to achieve it, and the best way to do so is by actively engaging with the world in a financially meaningful way. During my financial coaching sessions, I love witnessing the moment when people’s eyes light up as they build their own roadmap and take control of their financial future. It is incredibly rewarding to see them empowered to use money as a tool to create the best version of their lives.

I encourage everyone to become self-sufficient in personal finance. A great place to start is by researching financial topics, and I highly recommend this YouTube video on research tips as a useful resource (shameless plug).

How did Baruch College help you on your career path?

During my time at Baruch College, I had the unique opportunity to design my own degree, Technology Entrepreneurship, through the CUNY BA program. This allowed me to split my time between Baruch College for business courses and City College for computer science courses. While the technical skills I gained were invaluable, I credit Baruch College for shaping my soft skills, including public speaking, leadership, and negotiation. These skills played a crucial role in accelerating my transition into management early in my career.

Success in any field requires more than just technical expertise. It is equally important to communicate the value of your work effectively. Baruch College provided an environment that nurtured both skill sets, preparing me to navigate complex professional landscapes with confidence. The Baruch community is made up of individuals from all walks of life, yet the common thread among us is a relentless drive to make an impact.

On a more personal note, I met my wife through our Macaulay Baruch coursework. That experience alone makes my time at Baruch truly unforgettable.

Outside of work, what do you do for fun?

After seven years of encouragement from my wife, I finally picked up tennis, and I absolutely love it. I am still in the early stages of learning, and progress can be challenging, but there is nothing more rewarding than when everything clicks and I land an impossible shot. I play at least twice a week, and even more during the warmer seasons.

As someone who was never a fan of cardio, I was pleasantly surprised by how much of a workout it provides. Tennis has also introduced me to a wonderful community of players. I have met many fun and generous people on the New Jersey tennis courts, and I am incredibly grateful to the more experienced players who have taken the time to rally with me and offer tips.

If anyone is looking for a solid advanced beginner to hit with, I would love to play and learn from you.