Arkansas IDA Programs: Examining Asset Retention and Perceptions of Well-Being

As the antipoverty initiative known as Individual Development Accounts (IDAs) enters into its second decade of implementation, research needs to examine social policy and program outcomes for both IDA participants and their communities. This pilot study examined the asset retention rate of 85 graduates from three Arkansas IDA programs; the relationship between household assets and economic strain, self-efficacy, and future orientation; and whether the duration of asset ownership had an effect on well-being. Findings indicate that the majority of IDA program graduates were likely to maintain that asset at follow-up (range = 6-36 months). Differences were found based on the asset purchased, with homeowners more likely and small business owners less likely to report higher rates of well-being at follow-up. Implications of these findings include the need to provide support for practitioners to obtain funding for IDA programs and to include information and resources for those starting their own business to help safeguard against potential stressors.