The Special Needs Planning Gap: Barriers to Financial Decision-Making
Baker, Casey
Baker, Casey
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Abstract
Individuals with intellectual and developmental disabilities are increasingly outliving their primary caregivers, making proactive financial planning more critical than ever. Yet despite this growing need, fewer than half of parents of children with special needs (CWSN) have established formal financial plans. Traditional financial models assume that lack of capital is the primary barrier to planning, but for these families, the reality is far more complex. This study investigates the behavioral and informational hurdles that prevent families from engaging in proactive special needs financial planning, examining whether information complexity and emotional overwhelm outweigh conventional financial constraints. Data were collected using an anonymous online survey administered through Qualtrics from October 2025 to January 2026, yielding a sample of 80 parents and guardians of CWSN across the United States. Notably, 67.5% of respondents reported annual household incomes exceeding $100,000 and 75% held a bachelor's degree or higher, making financial capacity an unlikely primary explanation for planning gaps. Using Spearman's Rank Correlation, Binary Logistic Regression, Cramer's V, and thematic analysis, the study identifies information difficulty as the strongest predictor of planning delay (OR = 2.15, p = 0.001), far outpacing financial comfort (OR = 0.78) as a factor. Thematic analysis of open-ended responses revealed three dominant barriers: emotional bandwidth (40%), information complexity (35%), and system-navigation complexity (25%). The top self-reported obstacles were lack of information (21.3%) and fear of losing government benefits (20.0%). These findings reframe the special needs planning gap as a "complexity paralysis" problem rather than a purely financial one, with significant implications for financial advisors, policymakers, and disability advocacy organizations.
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Date
1/1/2026
Student Status
Senior (Graduating in 2026)
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Poster
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Business Administration
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Grossman School of Business
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Mathematical Science