A 529 Plan Is

question 21

Multiple Choice

A 529 plan is

• A)funds set aside to go toward post-secondary education expenses.
• B)an account which allows the holder to write checks against deposited funds.
• C)funds set aside to be withdrawn after age 59.5 without penalty.
• D)a plan where taxes are not paid on the money or interest earned until the year it is withdrawn.

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Definitions:

Actual Self

The concept referring to how individuals see themselves currently.

Ought Selves

The representation of the attributes that someone believes they should possess, often influenced by societal, familial, and personal expectations.

Self-regulation

Refers to the ability of an individual to manage their emotions, thoughts, and behaviors in accordance with their goals.

Big Five

A model that outlines five broad dimensions of personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.