{
  "docId": "019dd923-5e88-73ef-bd5b-00929d11a886",
  "docSlug": "ab253afb16771f06",
  "documentTitle": "529 cpe",
  "authorId": "JPMorgan",
  "authorName": "J.P. Morgan",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "equity_research",
  "sourceTypeLabel": "Equity research",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.308,
  "pageNumber": 28,
  "pageCount": 45,
  "prevPage": 27,
  "nextPage": 29,
  "slideType": "data_table",
  "function": "analyze_data",
  "density": "dense",
  "nDataPoints": 13,
  "notes": "The chart uses a floating bar/range representation to show return distributions.",
  "elementsJson": [
    "headline_text",
    "bar_chart_vertical",
    "callout_box",
    "footnote"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5e88-73ef-bd5b-00929d11a886/28",
  "deckHref": "/decks/019dd923-5e88-73ef-bd5b-00929d11a886",
  "deckJsonHref": "/decks/019dd923-5e88-73ef-bd5b-00929d11a886.json",
  "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd5b-00929d11a886#slide-28",
  "components": [
    {
      "bbox": {
        "h": 0.3,
        "w": 0.2,
        "x": 0.75,
        "y": 0.285
      },
      "kind": "callout",
      "text": "Chart highlights: Average returns for both stocks and bonds outpaced tuition inflation. The diversified portfolio delivered higher returns than bonds, with lower volatility than stocks. Average returns for short-term cash did not keep pace with tuition inflation.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "47fa7adf-d915-454f-b162-72ab7fc29786",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "callout",
      "text": "The diversified portfolio delivered higher returns than bonds, with lower volatility than stocks.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-28aa-738e-a354-10afed6b7eb8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.5,
        "w": 0.6,
        "x": 0.05,
        "y": 0.25
      },
      "kind": "chart",
      "text": "Best, worst and average rolling 18-year periods, 1983-2025",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "59e88c64-3028-4f7d-9fcd-dc5fcd5fb910",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Annualized Return: 5.5%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-28aa-738e-a354-152c6c8aa2b9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.95,
        "x": 0.03,
        "y": 0.85
      },
      "kind": "source-note",
      "text": "Source: Barclays Capital, FactSet, Robert Shiller, Strategas/Ibbotson, Federal Reserve, BLS, J.P. Morgan Asset Management. Rolling returns shown are based on calendar-year returns from 1983 through 2025.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "b9d02923-7f35-4eb9-b0fc-b505f35a57e9",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.6,
        "x": 0.03,
        "y": 0.13
      },
      "kind": "subtitle",
      "text": "Compare the best, worst and average returns for different investments over rolling 18-year periods.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7661a11f-9722-4aaf-a7e6-bfb5bd6a0c1d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.4,
        "x": 0.03,
        "y": 0.07
      },
      "kind": "title",
      "text": "Staying diversified over 18 years",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "89da9e31-6240-4c7f-857d-c8b72e934cf7",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "2x2 matrix",
      "slug": "matrix-2x2",
      "agent": null,
      "layer": "slide",
      "matchId": "f8ecbcfa-8343-4207-8824-cfdb83b9007f",
      "evidence": "chart/bar-vertical: Best, worst and average rolling 18-year periods, 1983-2025",
      "confidence": 0.5
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 28,
      "from": 21,
      "beatId": "09ed0643-9787-4b27-a352-54abbeb745a7",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Evidence",
      "beatSlug": "evidence",
      "evidence": "Data tables and financial analysis supporting 529 plans",
      "position": 4,
      "confidence": 0.8,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}