title: Age differences in IDA savings outcomes: findings from the American Dream Demonstration.
abstract: 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.affiliation: Center for Social Development, Washington University, St. Louis, MO 63130, USA. mputnam@wustl.edu
authors.forename: Michelle
authors.initials: M
authors.lastname: Putnam
authors.forename: Michael
authors.initials: M
authors.lastname: Sherraden
authors.forename: Lin
authors.initials: L
authors.lastname: Zhang
authors.forename: Nancy
authors.initials: N
authors.lastname: Morrow-Howell
mesh_terms: D000328:Adult; D000367:Age Factors; D000368:Aged; D005260:Female; D006801:Humans; D007182:Income; D008297:Male; D008875:Middle Aged; D011640:Public Policy; D014481:United States