In the United States, an Individual Development Account (IDA) is a matched savings account that enables low-income American families to save, build assets, and enter the financial mainstream. IDAs supplement the savings of low-income households with matching funds drawn from a variety of private and public sources.
Read more about Individual Development Account: Purpose, Details, Usage Data
Famous quotes containing the words individual, development and/or account:
“In the course of the actual attainment of selfish ends—an attainment conditioned in this way by universality—there is formed a system of complete interdependence, wherein the livelihood, happiness, and legal status of one man is interwoven with the livelihood, happiness, and rights of all. On this system, individual happiness, etc. depend, and only in this connected system are they actualized and secured.”
—Georg Wilhelm Friedrich Hegel (1770–1831)
“To be sure, we have inherited abilities, but our development we owe to thousands of influences coming from the world around us from which we appropriate what we can and what is suitable to us.”
—Johann Wolfgang Von Goethe (1749–1832)
“At length he would call to let us know where he was waiting for us with his canoe, when, on account of the windings of the stream, we did not know where the shore was, but he did not call often enough, forgetting that we were not Indians.... This was not because he was unaccommodating, but a proof of superior manners. Indians like to get along with the least possible communication and ado. He was really paying us a great compliment all the while, thinking that we preferred a hint to a kick.”
—Henry David Thoreau (1817–1862)