Building Family Economic Success: Individual Development Accounts (IDAs) and Other Savings Tools

By the Annie E. Casey Foundation

August 1, 2005

Summary

In two rapid-fire pages, this report spotlights the power — and untapped potential — of Individual Development Accounts, which give families with fragile finances a unique opportunity to think beyond the struggles of today and invest in tomorrow. This fact sheet is one installment in a 10-part series, called Building Family Economic Success, that highlights how the Foundation is helping to economically empower families across America.        

Key Takeaway

The challenge of thinking long-term when money is short

Many hardworking American families cannot plan — or even dream — beyond the next paycheck. Yet, saving for the future and accumulating assets are vital safety nets that can mark the difference between stability and financial ruin when a family runs into hard times.   

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