Nela Richardson: September 17, 2020

EDWARD JONES STUDY FINDS AMERICANS ARE RECONSIDERING INVESTING IN HIGHER EDUCATION DUE TO COVID-19

Investment Strategist Provides Tips on Savings Tools and Online Resources for

Financial Literacy

NELA (NEE-la) RICHARDSON Ph.D., 

Principal, Investment Strategist, Edward Jones

 

Since the COVID-19 pandemic upended the education sector, Americans are reconsidering investing in higher education, according to a new Edward Jones and Morning Consult study. Respondents cited concerns over the current economic climate and the quality of online learning as top reasons some students are considering skipping higher education and choosing to look for full-time employment or internships instead.

 

On September 17th, Investment Strategist for Edward Jones, Nela Richardson will be available to share the details of the survey revealing concerns over education investment and will discuss current tools available to assist with planning for college. She can also discuss the ongoing effort to increase financial literacy around topics like education savings with an in-school pilot for high school students and teachers and an at-home curriculum for families whose children are currently learning remotely.

 

DID YOU KNOW?

·         Eighty percent of those currently saving for an in-person, four-year college or university cited concerns that the quality of education may suffer if universities move to online learning, including access to tools and resources necessary for education (47%), lack of community aspect at school, such as sports teams, clubs and on-campus housing (35%) and required in-person lab time (31%).

·         Behind retirement (46%) and emergency funds (44%), their child’s education (21%) was the third-most frequently cited life event that Americans are currently saving for and prioritizing, followed by their own education (11%).

·         Less than half of adults (45%) accurately recognize a 529 plan as an education savings tool. Roughly one-third of Americans were aware of the proper uses for 529 plans (29%); 28% recognized that 529s can be used for K-12 expenses and 29% reported awareness of the features and potential tax benefits that 529 plans offer.

 

For more information about education savings, go to www.edwardjones.com/529

 

MORE ABOUT NELA RICHARDSON:

Nela Richardson joined Edward Jones in 2018 and was named an Edward Jones principal in 2020. Today she serves as the firm’s investment strategist, analyzing and interpreting economic trends and market conditions, identifying risks and opportunities, and recommending strategies to help clients reach their long-term financial goals. Prior to joining Edward Jones, Richardson was the chief economist at Redfin Corp., a national real estate brokerage and technology company. Richardson also served as a senior economist for Bloomberg, L.P., covering housing and financial markets. Richardson earned a doctorate in economics from the University of Maryland-College Park with concentrations in financial economics, international finance and economic development. She obtained a master’s degree in economics from the University of Pennsylvania and a bachelor’s degree from Indiana University-Bloomington, where she was a triple major in mathematics, economics and philosophy. Richardson regularly provides insight on the market, the economy, real estate trends and public policy to policymakers, consumers and media. She is a regular contributor to Marketplace from American Public Media and has frequently appeared on CNBC, Bloomberg, CNN, Yahoo Finance, the Wall Street Journal, FORTUNE magazine, The New York Times and other national media.


Produced for: Edward Jones

 

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