– 529 Insiders Article of the Week
– News
– Data
– Research
– Events
– ABLE Act Column
– Quote of the Week

529 Dash, Required Reading for Your 529 Education: The goal of the 529 Dash is to address the specific needs and concerns of advisers, accountants and estate planners who sell and service families and institutions in the college financial planning process by providing industry relevant news, product training and best practices.

Please Read, Engage and Share.

Paul Curley, CFA
Editor-in-Chief of 529 Dash
Director of College Savings Research
paul.curley@strategic-i.com
Twitter: @PaulCurleyBC
LinkedIn: Strategic Insight 529 Dash LinkedIn Group

This week’s 529 Insiders Article of the Week rounds up last month’s 529 Insiders articles.

Round-Up:
1) Editor’s Letter: Advisor Value Add, Avocado Toast & 529s
2) Reader’s Perspective: Question and Answer with Joe Messinger, CFP, ChFC, CLU, Partner and Director of College Planning at Capstone Wealth Partners
3) Comprehensive Financial Wellness, Saving for Retirement & College Financial Planning
4) Target Market Analysis: Income of 529 Users, Non-529 College Savers & Non-Savers

Here is what you need to know from stories released this week.

– Forbes, “Study: Almost no one uses 529 college-savings accounts even though they work incredibly well. Yikes.” Editor’s Take: Thank you for sourcing Strategic Insight’s 529 data, and for using the data to pivot to the positive growth side of college financial planning.
– US News, “Don’t fall for these 6 myths about college savings.” Editor’s Take: Congrats Joe Orsolini on the quote, and thank you for supporting the 529 Dash.
– Market Watch, “Here is why your savings rate is more important than your investments’ returns.” Editor’s Take: Despite the focus on performance and fees, the real focus should be on the savings rate of parents and family members. Story also includes an interesting chart on the impact of savings rate and returns. Have a look, as it should provide ideas for your college financial planning practice.
– Kiplinger, “The Best College Savings Plans, 2017.” Editor’s Take: Kiplinger also published an article titled, “How to Pay for College” in their September 2017 issue.
– PLANSPONSOR, “Sound education needed to increase retirement savings contributions.” Editor’s Take: Story references demand for student loan repayment assistance as part of employee benefit packages due to growing student loan debt levels among employees. Also, the need for better financial education applies to college financial planning as well.

Here is the latest market data by Strategic Insight that can be used by the media and other organizations, and contact Strategic Insight for more information and commentary on its proprietary data, research, events and digital publications.

March 2017 Quarterly 529 Market Sizing Data
– 13.3 million accounts invested $289 billion in assets in 529 savings and prepaid plans 
– 12.2 million accounts invested $266 billion in assets in 529 savings plans 
– 1.1 million accounts invested $23 billion in assets in 529 prepaid plans

Here is what you need to know from data and research released this week.

– 90% of grandparents would be willing to gift college savings instead of presents. Editor’s Take: The percentage aligns with expectations as 13% of boomers are still paying off student loans.
– 76% of employers want their employer to provide them with student loan debt repayment resources. Editor’s Take: Plan advisers and employers should note the growing demand for college financial planning as part of employee wellness benefit packages.
– 32% or more of withdrawals from retirement accounts by workers in low-income households are due to economic shocks such as a loss of employment or health. Editor’s Take: Over prioritizing the retirement savings goal is leading to under savings for a 12 month emergency fund and college financial planning. In turn when there are liquidity issues and events, distributions are taken from retirement accounts. Advisors therefore need to help their clients to raise the priority of college financial planning as failing to plan for future college expenses and emergencies is negatively impacting retirement.

When: September 11-13, 2017
Where: JW Marriott Orlando Grande Lakes
Overview: Strategic Insight’s 529 Conference 2017 is a highly interactive and educational industry gathering with the entire college financial planning ecosystem. ‘Essentials Seminar’ is a pre-conference optional session that provides training on 529 plans in a constantly evolving market, while the ‘ABLE Afternoon Summit’ is a post-conference optional session that provides insight and networking opportunities to support the successful implementation and growth of ABLE accounts.

Agenda Updates:
– The session description for the session titled, “Effective Direct-Sold Marketing Strategies” has been added to the online agenda here.
– 529 Insiders, “529 Conference 2017: Print Ad.” Editor’s Take: Check out the 1-page print ad for the Strategic Insight 529 Conference 2017. It will be included in some of the upcoming Strategic Insight media brand publications, and a special thank you to the Strategic Insight design team for creating the collateral.
– New Strategic Insight 529 Conference 2017 600×300 Banner released and can be found at http://www.sionline.com
– Registration for the event is now open, and the early registration discount ends on August 17, 2017.

Please contact Paul Curley at paul.curley@strategic-i.com if you are seeking a speaker for an upcoming event.

Upcoming:
– Strategic Insight 529 Conference 2017, “Chairman’s Welcome and State of the College Financial Planning Industry” in Orlando, Florida on September 12
– Strategic Insight ABLE Summit 2017, “Chairman’s Welcome and State of the (ABLE) Industry” in Orlando, Florida on September 13

This week’s top legislative updates, product developments, news and resources relating to ABLE accounts, which are tax-advantaged savings accounts for certain individuals with disabilities and their families.

News, Research & Resources:
– FINRA, “ABLE accounts can help Americans with disabilities save”
– Chicago Tribune, “Ask Kim: Who can open an ABLE account?”

Market Data: Strategic Insight – 7,286 accounts invested $25.5 million in assets in ABLE (529A) accounts as of March 31, 2017

Industry Events: Strategic Insight ABLE Summit 2017 on September 13, 2017 at the JW Marriott, Orlando Grande Lakes. This summit provides insight and networking opportunities to support the successful implementation and usage of ABLE accounts.

“Gen X parents number one financial goal is helping their kids pay for college.”

– Joe Messinger, CFP, ChFC, CLU, Partner and Director of College Planning at Capstone Wealth Partners

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