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:
“It is the individual only who is timeless. Societies, cultures, and civilizations—past and present—are often incomprehensible to outsiders, but the individual’s hungers, anxieties, dreams, and preoccupations have remained unchanged through the millennia.”
—Eric Hoffer (1902–1983)
“The work of adult life is not easy. As in childhood, each step presents not only new tasks of development but requires a letting go of the techniques that worked before. With each passage some magic must be given up, some cherished illusion of safety and comfortably familiar sense of self must be cast off, to allow for the greater expansion of our distinctiveness.”
—Gail Sheehy (20th century)
“Eighteen convicts being hanged in one day ... a woman was crying an account of their execution. A gentleman asked her why she said nineteen, when there had been but eighteen hanged? She replied, “Sir, I did not know you had been reprieved.””
—Horace Walpole (1717–1797)