IDA: Individual Development Accounts

Piggy Bank
Are you interested in saving for higher education–for yourself or your high school student–or to buy a car, but are having a hard time saving enough for these goals? Then an IDA, or matched savings account, might be the right fit for you. IDAs (Individual Development Accounts) are used to reach major life goals, and include a financial education & coaching component. Through this program, you can save up to $1,000 per year for three years, which will be matched 3:1 (~$83/month)–that means you would save $3,000 and finish the program with $12,000! If you’d like more information or meet with a financial coach, contact Amanda Hart, MFS Financial Capabilities Coordinator for SF2020, at 971.517.8076 or amandah@mfs.email.