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Education Planning: An Investigation on Tax and Consumption Incentives with 529 Plans
Keywords: 5 words maximum
Education Planning, Taxes, 529, Consumption
Very short description for use in the program to help attendees understand more than a title can describe
CFP Board has recently elevated Education Planning to a major exam topic, demonstrating the rise of its importance to the financial planning industry. Evidence suggests that wealthier households benefit more from 529-plan participation than lower income households do. This paper investigates tax and consumption benefits through 529-plan participation and examines behavioral differences between households that begin college savings practices early versus those who delay it. Due to recent changes in the tax laws, tax savings and consumption benefits for wealthier households may not be as attractive as prior research suggests.
Lead & Corresponding Author
Brigham T. Dorman, Texas Tech University
Job Title
Associate Instructor & Doctoral Student