FIDELITY COLLEGE SAVINGS PLANNER HOW TO

“We’re certainly seeing more parents prioritize college savings – it was their second-biggest financial concern behind how to best save for retirement,” says Matt Golden, who oversees 529 plans for Fidelity.īesides growing interest in such issues, Golden notes that 70% of parents questioned want more specific recommendations on how much they need to save for higher education.Īlong those lines, the study finds that 41% of surveyed parents are now working with a financial professional. A record 41% of families who see higher education in their children’s future now invest in a 529 savings plan. Second, parents surveyed increased their use of dedicated college savings plans by 62% during that same period.

Consider a few of the study’s overarching findings, based on a national survey of 2,196 parents by Boston Research Technologies.įirst, saving for college is at an all-time-high with 72% of families saying they’re actively setting aside money for higher educational needs. And that’s leading, say the report’s authors, to unprecedented use of tax-advantaged college investment accounts – namely, through 529 savings plans. But a new study released Thursday by Fidelity Investments suggests advisors also need to keep proactively talking to parents about better ways to save for college.ĭemand for advice on higher education is at an all-time high, according to the custodian’s 10th annual College Savings Indicator Study. The new DOL rule is forcing many broker-dealers to re-think how they deal with their clients’ retirement accounts.

Fidelity college savings planner