Editor's Picks

– Perspectives
– News
– Research
– Data
– Events
– ABLE Act Column
– Presentations
– Recruiter’s Corner
– 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. Building upon the product training and trends will be our editorial insight, market data and research. Also, the 529 Dash will provide opportunities for you to learn from and network with your peers based on real life case studies and forums such as the Strategic Insight 529 Dash LinkedIn Group. By reviewing these success stories on college financial planning from your peers of advisers, accountants and estate planners, the barriers to supporting your clients and building your book of business will be reduced.

Please Read, Engage and Share.

Paul Curley, CFA
Editor-in-Chief of 529 Dash
Director of College Savings Research
Twitter: @PaulCurleyBC
LinkedIn: Strategic Insight 529 Dash LinkedIn Group

Perspectives: Question and Answer with David Carlson, Author of Hustle Away Debt and Founder of Young Adult Money

How has student loan debt impacted millennials, and what is the long-term impact on college financial planning for future generations?

This article features an interview with David Carlson, Author of Hustle Away Debt and founder of Young Adult Money. Based in St. Paul, Minnesota, David focuses on personal finance for millennials. His book, Hustle Away Debt, focuses on how millennials that tend to carry a heavy load of student loan debt can get out of their current situation through side hustles. As college financial planning involves saving, paying and repaying the cost of higher education, read this article to learn the current state of college financial planning for millennials and its potential impact on how future generations go about their college financial planning as well. David is also the founder of Young Adult Money, a personal finance website with articles, tips and tools on how to make money, save money and live life successfully. You can learn more about David Carlson, at http://www.youngadultmoney.com/. Last but not least, I would like to thank David for his time, insight and support in working with me on the article. I learned a lot through reading his book and working with him on the article, and think you can too from the article below. Please read the question and answers to learn about his perspective on college financial planning, and hope that the article provides you with an opportunity to learn more from your peers.

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News: Article Round-Up

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

WealthManagement.com, “Six Steps to Help Parents Prioritize Their Paychecks.” Editor’s Take: Save for college is step 6. Add to your to-do list for clients that are parents as well.
Chicago Tribune, “Ask Kim: How will a scholarship affect 529 savings?” Editor’s Take: This question is answered in a prior 529 Insiders article here. Read and learn.
NJ.com, “Changing beneficiaries on your 529 plans | Biz Brain.” Editor’s Take: This question on ability to change beneficiaries to other family members is answered in a prior 529 Insiders article here, and the topic of portability is referenced here. Read and learn.

Last Week’s Most Read Article:
Nerd’s Eye View by Michael Kitces, “Grandparent 529 plans and gifting appreciated assets while qualifying For FAFSA financial aid.” Editor’s Take: Timely topic, and read our article on 529s and intergenerational wealth planning here.

Research: Survey Stats on the Go

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

87% of millennials believe the higher education system is fine as it is. Editor’s Take: College financial planning will ease the educational process, and increase satisfaction rates.
65% of parents of college bound students only plan to pay for some college costs. Editor’s Take: Advisors have an opportunity to help the majority of parents to efficiently save, pay and repay the cost of higher education.

Data: Market Sizing Update

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
– 7,286 accounts invested $25.5 million in assets in ABLE (529A) accounts

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Events: 529 Conference 2017

When: September 11-13, 2017
Where: JW Marriott Orlando Grande Lakes
Overview: The 529 Conference is a highly interactive and educational industry gathering where you’ll meet and network with the entire 529 ecosystem. Using a 360-degree perspective, the conference drills down into the most significant trends and challenges facing the industry today and includes critical conversation and debate surrounding the latest legislative developments, product innovations, investment options, distribution strategies, marketing initiatives, consumer trends, regulatory announcements and much more.

Optional sessions are available in conjunction with the 529 Conference to offer attendees additional education and training. The pre-conference ‘Essentials Seminar’ provides an understanding of the granular details of 529 plans in a constantly evolving market, and the post-conference ‘ABLE Session’ provides insight and networking into successfully implementing ABLE accounts.

529 Conference Agenda Updates:
Registration for the event is now open.

ABLE Act Column

This section will cover 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. After-tax contributions grow tax deferred, and distributions from the accounts are tax exempt when used for qualified expenses.

News, Research & Resources:

PR Newswire, “ABLEnow Featured on New Season of A&E’s Born This Way.” Editor’s Take: Partnerships such as these will help to build awareness and understanding of ABLE accounts for your clients. Also, congrats to Virginia529 on the 30 second and 60 second video spots, and thank you for creating and sharing.
JD Supra, “PA ABLE Accounts and How They Differ From Supplemental Needs Trusts.” Editor’s Take: Primer on how the two vehicles compare.
Video, “The Attainable Savings Plan offered by MEFA and managed by Fidelity”
MiABLE, Rolling calendar of outreach events in Michigan
ABLE United, “2017 Sweepstakes.” Editor’s Take: The program is running a giveaway for $500 for five winners from May 15, 2017, to June 15, 2017. Click to learn more. Also, the plan is hosting a webinar titled, “Investing in your financial future” on May 23rd at 12pm ET.

List of Open Programs:

529 Insiders, “List of Open Programs.”
Legislative Update:
529 Insiders, “Editor’s Letter: ABLE Act Update, 2017 NDSS Buddy Walk® on Washington and How to Justify Your Fee as an Adviser.”
Product Training Primer:
529 Insiders, “529 Essentials: 529 Plans & ABLE Accounts.”
Strategic Insight: 7,286 accounts invested $25.5 million in assets in ABLE (529A) accounts as of March 31, 2017.

Strategic Insight ABLE Summit 2017 on September 13, 2017 at the JW Marriott, Orlando Grande Lakes


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

Recruiter's Corner

Please email job descriptions that would be of interest to the readership of the 529 Dash to paul.curley@strategic-i.com.

Franklin Templeton Investments, 529 Associate Marketing Manager-816939 in Short Hills, New Jersey
Economic Advancement Program, Investment Associate Principal in London, UK

Quote of the Week

“In the end, the money we save will be used for family vacation time later in the summer, and savings for our children to go to college.”
– Paul Curley, CFA, Director of College Savings Research, Strategic Insight

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May 22nd, 2017
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