Poverty Among Adults with Disabilities: Barriers to Promoting Asset Accumulation in Individual Development Accounts

Abstract

Adults with disabilities disproportionally experience poverty. We examine one novel strategy to promote economic well-being among adults with disabilities living in or near poverty, namely Individual Development Accounts (IDAs). IDAs are designed to help individuals save money and subsequently accumulate assets. Although adults with disabilities account for the majority of IDA participants, scant attention has been paid to their IDA saving performance. We describe the significance of accumulating assets, particularly as it relates to adults with disabilities. We then map the nature of IDA programs and analyze barriers to participation in IDAs and asset accumulation related to conflicting federal policies and a lack of sensitivity to disability-specific needs. We conclude by offering policy recommendations from our analysis, including the need to eliminate the means-tests used in welfare policies, de-linking participation in IDAs from employment status, and involving people with disabilities in designing and evaluating asset accumulation policies and programs.

The Impact of Personal Factors on Self-Determination and Early Adulthood Outcome Constructs in Youth With Disabilities

“…The data did not allow for a systematic analysis of the factors that shaped this relationship (e.g., greater ability to provide financial support-outside of government programs-for college or greater ability to access supports for accommodations), but they suggest that above and beyond financial support through government programs, family resources are a stronger predictor of access to and success in high education. Further research is needed to more systematically examine these findings and alternative asset-building programs (Soffer et al, 2010), as well as to explore, given the increase in the prevalence of postsecondary programs for people with intellectual and cognitive disability (Hart et al, 2010), the impact of family and government resources on access to these programs. Considering ways that access to and knowledge of these programs can be developed in secondary education and transition services has the potential to enhance practice and the ability of youth to transition into adulthood with the financial supports in place that enhance valued postschool outcomes.…”

The March Goes On: Community Access for People With Disabilities

“…Although federal civil rights legislation designed to remove barriers to and promote full and equal participation for individuals with disabilities (e.g., the Architectural Barriers Act of 1968, the Rehabilitation Act of 1973, and the Americans with Disabilities Act [ADA] of 1990) has led to improvements, barriers to community life for people with disabilities persist (Freiden, ; Kaplan, Hernandez, Balcazar, Keys, & McCullough, ). People with disabilities experience disparities in multiple domains including employment, assets, education, health, technology, and political participation (Katz & DeRose, ; Soffer, McDonald, & Blanck, ; Schur & Adya, ; Schur, Kruse, & Blanck, ). People with disabilities feel isolated from their communities and experience poor health (White, Simpson, Gonda, Ravesloot, & Cable, ; Sherwin, ; National Organization on Disability, ; Partington, ; Taylor, ).…”

Barriers to Economic Security: Disability, Employment, and Asset Disparities in Canada

“…Not surprisingly, people with disabilities develop low expectations about saving or building financial assets (see Soffer et al. 2010).…”

“…They may also be accounted for via structural barriers including economic policies, such as asset-based testing to determine disability benefits, which actively discourage people to save. Not surprisingly, people with disabilities develop low expectations about saving or building financial assets (see Soffer et al 2010).…”