Christopher Parr was quoted in an article on 529 College Savings Accounts byin The New York Times Money Advisor section. The piece examined the toll the virus-induced stock market turmoil has taken on 529 college savings plans heavily weighted in stocks.
Christopher Parr, a financial planner in Columbia, Md., suggests families carefully consider their risk tolerance and opt for a less aggressive approach if market gyrations are too hard to stomach. “Be sure to understand your plan’s stock allocation, especially as college nears,” said Parr, “Most people don’t know what’s going on under the hood,” he said. If you expect to be paying tuition in the near future, he said, “That money doesn’t belong in the stock market.”
Read the full May 29, 2020, New York Times article: Stock Market Turmoil Took Toll on 529 College Accounts