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:
“Consider any individual at any period of his life, and you will always find him preoccupied with fresh plans to increase his comfort. Do not talk to him about the interests and rights of the human race; that little private business of his for the moment absorbs all his thoughts, and he hopes that public disturbances can be put off to some other time.”
—Alexis de Tocqueville (1805–1859)
“America is a country that seems forever to be toddler or teenager, at those two stages of human development characterized by conflict between autonomy and security.”
—Anna Quindlen (b. 1952)
“How shall we account for our pursuits, if they are original? We get the language with which to describe our various lives out of a common mint.”
—Henry David Thoreau (1817–1862)