Ray Boshara

Social investment policies – policies that pursue both economic and social development – are increasingly shaping strategies for growth in both developed and developing nations. In January 2007, the Republic of Korea implemented a series of innovative policies, with a particular emphasis on investments in children. Informed by similar policies in the UK, the US and Canada, the Korean Minister of Health and Welfare, His Excellency Simin Rhyu, has now established a Child Development Accounts (CDAs) policy. These… more

The purpose of this annual report is to summarize and take stock of the current state of federal policy through an asset-building lens, especially as it affects the asset base of families with lower incomes and fewer resources, which is the focus of our work. The report is divided into three sections. The first is a review of policy developments from the past year related to asset building; the second is an examination of the president’s budget proposals for fiscal… more

A proposal aimed at helping lower-income families save for college -- part of the Bush administration's FY08 budget proposals unveiled Monday -- might have found a receptive ear in Senate Finance Chairman Baucus...In unveiling its proposed FY08 budget, the White House proposed to make contributions to a Section 529 qualified tuition plan count toward the computation of the saver's credit.As a result, qualifying taxpayers would be eligible for a tax credit of up to $2,000 to… more

Click here for a brief video discussion of this idea.

An American Stakeholder Account (ASA), established for every child at birth, would build a savings and ownership culture in America, promote financial literacy, and fortify the American economy for the long haul. Every child would automatically receive a $6,000 deposit into an ASA at birth -- and also… more

Professor Michael Sherraden will discuss his work on policies and programs that can help poor people build assets in developing nations. His talk will be followed by comments about how the successes of asset-building policies can be applied to microfinance where, as the new CGAP Focus Note finds, institutions struggle to mobilize deposits and help their clients build assets.

Commentators will include Ray Boshara, Director of the Asset Building Program at the New America Foundation, Allyn Moushey, Poverty Analysis &… more

(WASHINGTON, DC, 12/14/06)— In response to the growing complexity of financial services, the persistent need for widespread, effective financial education, and the increasing importance of reducing debt and building wealth by millions of low-, moderate- and middle-income Americans, the New America Foundation’s Asset Building Program is establishing the Financial Services and Education Project, with funding from the Ford Foundation.

“To build and retain personal and community assets, Americans must navigate a financial system that is innovative and robust, but complex… more

America’s personal savings rate is abysmally low. Last year the personal savings rate was negative, the lowest annual rate since the Great Depression. Whether the objective is to promote retirement security, improve educational attainment or increase financial literacy, the need to increase household savings is vitally clear.

Children’s Savings Accounts (CSAs), which can be established automatically at birth, are gaining momentum as they form the base of many new and exciting proposals to increase savings. Many believe that CSAs hold great… more