Alaska's Smart Money Move: How a 50-Year-Old Plan Keeps Paying Off

Alaska made a wise choice half a century ago. Back in 1976, when the state was still new, voters decided to save some of their oil and mineral money for the future. This decision led to the Alaska Permanent Fund, a smart way to manage resources that won't last forever. The fund started small, with just $734 million in its first year. Today, it's worth over $85 billion. That's a lot of money! It helps pay for important things like schools and roads. It also gives money back to Alaskans every year through something called the Permanent Fund Dividend (PFD). The fund works because of strict rules. A part of all oil and mineral money goes into it. This money is then invested carefully around the world. The fund is used to support the state's needs, but most of it stays invested for future generations. This is done through a system called the Percent of Market Value (POMV) draw.The people who manage the fund are doing a great job. In the last year, the fund earned over $7. 8 billion. That's a big deal! Over the past ten years, the fund has grown by 8. 08% each year. This success comes from a smart, long-term plan that spreads investments across different areas. The fund's 50th anniversary is a big deal. It's not just about celebrating past successes. It's also about making sure the fund stays strong for the future. Good leadership, openness, and public trust are key to this. The Alaska Permanent Fund shows that planning ahead works. It proves that a state can do well by taking the long view and investing wisely. As we celebrate this milestone, we should feel proud and committed to keeping this legacy alive for future Alaskans.