Document Detail


Age differences in IDA savings outcomes: findings from the American Dream Demonstration.
MedLine Citation:
PMID:  18198159     Owner:  NLM     Status:  MEDLINE    
Abstract/OtherAbstract:
This study aims to develop a greater understanding of age differences in savings outcomes within Individual Development Accounts (IDAs). Participant data from the American Dream Demonstration (ADD) are examined for age differences in accumulated net deposits, average monthly net deposits, and deposit frequency. ADDprogram data are examined for savings match rates, monthly savings targets, direct deposit, and hours of financial education offered. Results indicate that, on average, older IDA participants have better savings outcomes than younger participants. Findings from this study suggest that impoverished middleaged and older adults can save if provided an opportunity and incentives. However, success will depend on the characteristics of the programs.
Authors:
Michelle Putnam; Michael Sherraden; Lin Zhang; Nancy Morrow-Howell
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Publication Detail:
Type:  Journal Article; Research Support, Non-U.S. Gov't    
Journal Detail:
Title:  Journal of aging & social policy     Volume:  20     ISSN:  0895-9420     ISO Abbreviation:  J Aging Soc Policy     Publication Date:  2008  
Date Detail:
Created Date:  2008-01-16     Completed Date:  2008-02-14     Revised Date:  -    
Medline Journal Info:
Nlm Unique ID:  8914669     Medline TA:  J Aging Soc Policy     Country:  United States    
Other Details:
Languages:  eng     Pagination:  45-63     Citation Subset:  T    
Affiliation:
Center for Social Development, Washington University, St. Louis, MO 63130, USA. mputnam@wustl.edu
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MeSH Terms
Descriptor/Qualifier:
Adult
Age Factors
Aged
Female
Humans
Income*
Male
Middle Aged
Public Policy
United States

From MEDLINE®/PubMed®, a database of the U.S. National Library of Medicine


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