Could Sovereign Wealth Funds Improve U.S. Households’ Financial Security?

<div class="header alignfull header--article header--min-height-full has-background has-tonal-black-background-color"> <div class="header__layout"> <div class="header__content"> <div class="header__metadata"><div class="header__metas"><div class="header__meta header__meta--taxonomy header__meta--tax-category"> Blog Posts</div></div></div> <h1 class="header__title has-h2-variant">Archives</h1> <div class="header__metadata"><div class="header__metas"><div class="favorite-block"> <button class="favorite" data-id="322451" data-state="" title="Favorites are not currently available" disabled><span class="favorite__on">Unfavorite</span><span class="favorite__off">Favorite</span><svg class="svg svg--svg-assets-svg-icon-bookmark" role="img" height="15" width="11"><use xlink:href="#svg-assets-svg-icon-bookmark" /></svg></button></div> <div class="header__meta header__meta--date"> October 22, 2026</div> <div class="header__meta header__meta--taxonomy header__meta--tax-program_tax"> Financial Security Program</div></div></div> </div> </div> <figure class="header__media" role="presentation"> </figure> </div> <div class="wp-block-group alignwide is-style-default has-white-background-color has-background is-layout-flow wp-block-group-is-layout-flow" style="margin-top:var(--wp--preset--spacing--small);margin-bottom:var(--wp--preset--spacing--large);padding-top:var(--wp--preset--spacing--small);padding-bottom:var(--wp--preset--spacing--xsmall)"> <div class="wp-block-columns alignwide is-layout-flex wp-container-core-columns-is-layout-3107067f wp-block-columns-is-layout-flex" style="margin-top:0;margin-bottom:0;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0"> <div class="wp-block-column is-layout-flow wp-block-column-is-layout-flow" style="border-top-color:var(--wp--preset--color--tonal-black);border-top-width:8px;border-bottom-style:none;border-bottom-width:0px;padding-top:var(--wp--preset--spacing--medium);flex-basis:33.33%"> <div style="margin-bottom:var(--wp--preset--spacing--medium)" class="post-people"> <div class="post-people__person"> <figure class="post-people__headshot"> <img fetchpriority="high" decoding="async" width="300" height="212" src="https://www.aspeninstitute.org/wp-content/uploads/2016/08/KLM-final_2-scaled-e1778702411709-300x212.png" class="attachment-mobile size-mobile" alt="" srcset="https://www.aspeninstitute.org/wp-content/uploads/2016/08/KLM-final_2-scaled-e1778702411709-300x212.png 300w, https://www.aspeninstitute.org/wp-content/uploads/2016/08/KLM-final_2-scaled-e1778702411709-800x565.png 800w, https://www.aspeninstitute.org/wp-content/uploads/2016/08/KLM-final_2-scaled-e1778702411709-1500x1060.png 1500w, https://www.aspeninstitute.org/wp-content/uploads/2016/08/KLM-final_2-scaled-e1778702411709-768x543.png 768w, https://www.aspeninstitute.org/wp-content/uploads/2016/08/KLM-final_2-scaled-e1778702411709-1536x1086.png 1536w, https://www.aspeninstitute.org/wp-content/uploads/2016/08/KLM-final_2-scaled-e1778702411709-2048x1448.png 2048w, https://www.aspeninstitute.org/wp-content/uploads/2016/08/KLM-final_2-scaled-e1778702411709-1542x1090.png 1542w, https://www.aspeninstitute.org/wp-content/uploads/2016/08/KLM-final_2-scaled-e1778702411709-1600x1131.png 1600w, https://www.aspeninstitute.org/wp-content/uploads/2016/08/KLM-final_2-scaled-e1778702411709-955x675.png 955w, https://www.aspeninstitute.org/wp-content/uploads/2016/08/KLM-final_2-scaled-e1778702411709-956x676.png 956w" sizes="(max-width: 300px) 100vw, 300px" style="object-position: 50% 30%" /> </figure> <div class="post-people__info"> <h3 class="post-people__name"> <a href="https://www.aspeninstitute.org/people/katherine-lucas-mckay/" class="post-people__link"> Katherine Lucas McKay </a> </h3> <p class="post-people__position"> Principal Researcher, Insights and Evidence </p> </div> </div> </div> </div> <div class="wp-block-column is-layout-flow wp-block-column-is-layout-flow" style="border-top-color:#1b162130;border-top-width:2px;border-right-style:none;border-right-width:0px;border-bottom-style:none;border-bottom-width:0px;border-left-style:none;border-left-width:0px;padding-top:var(--wp--preset--spacing--medium);padding-left:var(--wp--preset--spacing--small);flex-basis:66.66%"> <p class="wp-block-paragraph">Wealth and work are two of the defining issues of the moment in the United States, as <a href="https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/chart/#quarter:147;series:Net%20worth;demographic:networth;population:1,3,5,7,9;units:shares">inequality continues to rise</a> and the <a href="https://www.nbcnews.com/business/economy/labor-share-historic-lows-worker-pay-rcna596004">labor share of income declines</a>. In response to these trends, and to ensure that all Americans benefit from the wealth being created by new technologies such as artificial intelligence, some leaders have proposed creating sovereign wealth funds (SWFs).</p> <p class="wp-block-paragraph">SWFs are government-owned investment funds whose investments and profits are used to advance policy goals. President Trump sparked public interest in this topic in 2025 when he <a href="https://www.whitehouse.gov/presidential-actions/2025/02/a-plan-for-establishing-a-united-states-sovereign-wealth-fund/">issued an executive order</a> directing the U.S. Department of the Treasury to create a plan for an American sovereign wealth fund. And in 2026, Sam Altman, the CEO of OpenAI, <a href="https://techcrunch.com/2026/07/02/openai-proposed-donating-5-of-its-equity-to-a-us-sovereign-wealth-fund/">suggested that leading AI companies donate equity</a> to a national SWF that would distribute profits to Americans.&nbsp;</p> <p class="wp-block-paragraph">While SWFs are once again part of the national discourse—this time as a possible way to ensure that every American shares in the upside of a transformative technology like AI—Aspen FSP has previously <a href="https://www.aspeninstitute.org/wp-content/uploads/2025/05/ASP-FSW_101Solutions_FINAL_Single1.pdf">highlighted these funds</a> as systemic and <a href="https://live-future-of-building-wealth.pantheonsite.io/wp-content/uploads/2021/09/Sec7-Ch50-Barnes.pdf">potentially scalable</a> solutions to support Americans’ financial security. So, the conversation about sovereign wealth funds designed to boost the resources of American households is an important and exciting one for Aspen FSP, as our North Star is for all families to have financial stability and the <a href="https://www.aspeninstitute.org/publications/essential-wealth-report-benchmark-for-financial-security/">essential wealth</a> they need to thrive—a crucial threshold that, today, only one out of four households meets.&nbsp;</p> <p class="wp-block-paragraph">This short explainer will help readers understand how SWFs work, under what conditions these funds could supplement families’ income and enable wealth building, and identify promising pathways forward.&nbsp;</p> </div> </div> <hr class="wp-block-separator has-alpha-channel-opacity is-style-dots" style="margin-top:var(--wp--preset--spacing--medium);margin-bottom:var(--wp--preset--spacing--small)"/> <div class="wp-block-group is-layout-constrained wp-block-group-is-layout-constrained" style="margin-top:var(--wp--preset--spacing--small)"> <div class="wp-block-group is-layout-constrained wp-block-group-is-layout-constrained"> <h2 id="h-how-do-sovereign-wealth-funds-work" class="wp-block-heading has-h3-variant">How do sovereign wealth funds work?</h2> <p class="wp-block-paragraph">There are currently <a href="https://www.ifswf.org/SWFs-numbers">more than 100 sovereign wealth funds</a> operating worldwide that collectively manage more than $10 trillion in assets. Well-known SWFs include Norway’s <a href="https://www.nbim.no/en/">Government Pension Fund Global</a>, China’s <a href="https://www.china-inv.cn/chinainven/About_CIC/Who_We_Are.shtml">China Investment Corporation</a>, and, in the United States, the <a href="https://apfc.org/">Alaska Permanent Fund</a>.</p> <p class="wp-block-paragraph">These funds are capitalized with a variety of different resources, and returns are used for different purposes. In fact, SWFs can take many forms but they all share several <a href="https://www.ifswf.org/what-is-a-sovereign-wealth-fund">core characteristics</a>, such as public ownership and a mission to generate positive financial returns. What’s more, truly effective, sustainable SWFs must be independent, transparent, managed without political interference, and adhere to professional accounting and governance standards.&nbsp;</p> <p class="wp-block-paragraph">SWFs are started with capital granted by the governments that create and own them. Common sources of funds include:</p> <ul class="wp-block-list"> <li class="">Profits generated by extraction of nonrenewable resources, such as oil, natural gas, and minerals;&nbsp;</li> <li class="">Current account surpluses generated by net exports or fiscal revenues that exceed expenses; and&nbsp;</li> <li class="">The sale of assets such as public lands and state-owned enterprises.&nbsp;</li> </ul> <p class="wp-block-paragraph">Several <a href="https://en.wikipedia.org/wiki/List_of_U.S._states_by_sovereign_wealth_funds">U.S. states</a> and <a href="https://www.swfinstitute.org/profiles/native-american-fund/north-america">Tribal nations</a> have sovereign wealth funds. Many were created in the 1800s, when, as new states were admitted to the Union, the federal government granted ownership of federal land to the newly established state governments. States were required to invest revenues generated by federal land grants to support public education.</p> <p class="wp-block-paragraph">Of those still in operation, the largest are owned by <a href="https://en.wikipedia.org/wiki/Permanent_School_Fund">Texas</a> (approximately $90 billion across two separate funds) and <a href="https://www.sic.state.nm.us/investments/permanent-funds/">New Mexico</a> (approximately $100 billion). Today, these funds continue to be capitalized with proceeds from use of public lands. The Alaska Permanent Fund was established in 1976 to invest profits from newly discovered oil. At least two Tribal nations, the <a href="https://ebciholdingsllc.com/">Eastern Band of Cherokee Indians</a> and the <a href="https://www.12-clans.com/">Ho-Chunk Nation</a>, capitalized SWFs with casino and gaming profits.</p> <div class="wp-block-group has-primary-wash-background-color has-background is-layout-constrained wp-container-core-group-is-layout-f0380b68 wp-block-group-is-layout-constrained" style="margin-top:var(--wp--preset--spacing--medium);margin-bottom:var(--wp--preset--spacing--medium);padding-top:var(--wp--preset--spacing--medium);padding-right:var(--wp--preset--spacing--medium);padding-bottom:var(--wp--preset--spacing--medium);padding-left:var(--wp--preset--spacing--medium)"> <h4 id="h-uses-of-swf-investment-returns" class="wp-block-heading has-h4-variant"><mark style="background-color:rgba(0, 0, 0, 0)" class="has-inline-color has-primary-color">Uses of SWF investment returns</mark></h4> <p class="wp-block-paragraph">Sovereign wealth funds have a variety of policy goals that shape both how they invest and how they spend returns. Some common uses of SWF earnings by other nations include:&nbsp;</p> <ul class="wp-block-list"> <li class=""><strong>Contribute to general revenues.</strong> Norway uses a percentage of its fund’s annual earnings to supplement the national budget. Chile draws on its fund’s returns to stabilize revenue during economic downturns.&nbsp;</li> <li class=""><strong>Support specific public goods such as healthcare, education, and infrastructure.</strong> Nations including Qatar and Kuwait use SWF returns to provide free healthcare to citizens.&nbsp;&nbsp;&nbsp;</li> <li class=""><strong>Achieve national security or diplomatic goals.</strong> China and Singapore primarily use their SWFs for these purposes through investments in foreign nations’ infrastructure and allies’ key industries.&nbsp;</li> <li class=""><strong>Pay direct cash dividends to citizens.</strong> Alaska and the Eastern Band of Cherokee Indians each fund regular payments to their citizens with their SWF’s investment returns.&nbsp;</li> </ul> </div> </div> <h2 id="h-how-might-a-u-s-sovereign-wealth-fund-significantly-improve-americans-financial-well-being" class="wp-block-heading has-h3-variant">How might a U.S. sovereign wealth fund significantly improve Americans’ financial well-being?</h2> <p class="wp-block-paragraph">There are three primary strategies that a federal SWF could use to directly boost household financial well-being and get each household closer to having the essential wealth they need to thrive. Each strategy has been implemented successfully by existing state or tribal SWFs within the United States:</p> <ul class="wp-block-list"> <li class=""><strong>Reduce the cost of families’ core needs.</strong> Use the fund’s financial returns to lower the cost of core needs, such as healthcare, childcare, education, or housing. <ul class="wp-block-list"> <li class="">Several states use SWFs to support public education; <a href="https://www.linkedin.com/posts/universalchildcare-childcareforall-makinghistory-share-7406388686495375360-nm-7/">New Mexico’s new universal childcare initiative</a> is an evolution of this strategy.&nbsp;&nbsp;</li> </ul> </li> <li class=""><strong>Create a capital income stream for households.</strong> By distributing financial returns to them as regular cash payments. <ul class="wp-block-list"> <li class="">Alaska and the Eastern Band of Cherokee Indians provide regular dividend payments to citizens.&nbsp;</li> </ul> </li> <li class=""><strong>Contribute to individual wealth accounts.</strong> Provide seed funding or regular contributions to individual wealth accounts established for all U.S. citizens. <ul class="wp-block-list"> <li class="">The Eastern Band of Cherokee Indians establishes early wealth-building accounts for all children at birth, which receive regular contributions until the child is 18.&nbsp;</li> </ul> </li> </ul> <h2 id="h-looking-toward-the-future-design-considerations-and-innovation-opportunities" class="wp-block-heading has-h3-variant">Looking toward the future: Design considerations and innovation opportunities  </h2> <p class="wp-block-paragraph">As described above, many SWFs use their resources to achieve goals other than households’ financial well-being, so a U.S. SWF would need to be actively designed and managed for that purpose to achieve that goal. Leaders who see SWFs as a promising systemic solution to American families’ widespread lack of essential wealth should:&nbsp;</p> <h2 id="h-consider-sources-of-capital" class="wp-block-heading has-h4-variant">Consider sources of capital</h2> <p class="wp-block-paragraph">The United States faces a <a href="https://www.energypolicy.columbia.edu/structuring-a-us-sovereign-wealth-fund/">different context</a> than most nations that have established SWFs because the federal government runs large deficits and does not control profits from natural resource extraction. However, our nation is home to a dynamic and wealth-generating technology sector, and recent proposals for a United States federal SWF have focused on capitalizing the fund with shares of stock or the profits of artificial intelligence companies. <a href="https://www.sanders.senate.gov/press-releases/news-sanders-introduces-legislation-to-create-7-trillion-ai-sovereign-wealth-fund/">Senator Bernie Sanders</a> and <a href="https://www.ft.com/content/7c803eab-8e80-4431-9a87-e943bf00e00b">OpenAI’s Sam Altman</a> both support a fund that would own leading AI firms’ stocks (though their ideas diverge from there). Concentrating assets in a few firms from a single industry brings significant risk of volatility, but a <a href="https://scottsantens.substack.com/p/how-to-pay-for-ubi-stock-dilution-tax">broader-based tax on corporate profits</a> or <a href="https://ballotpedia.org/California_Proposition_40,_One-Time_Wealth_Tax_for_State-Funded_Healthcare,_Education,_and_Food_Assistance_Programs_Initiative_(2026)">exceptionally wealthy individuals</a> would likely provide more consistent returns. </p> <h2 id="h-focus-on-financial-well-being" class="wp-block-heading has-h4-variant">Focus on financial well-being</h2> <p class="wp-block-paragraph">Then there is the question of how profits from a U.S. SWF should be directed to support households’ financial well-being. Policymakers must consider how much financial support individuals or families should receive from a SWF; how to stabilize spending as investment returns vary over time; and whether to create a universal program or focus on specific populations, such as children and their families. Leaders who prioritize families’ financial well-being should explore these options and refine their proposals with a focus on ensuring that a fund’s returns meaningfully support families’ financial stability and wealth-building efforts. It is important to note that proponents of this strategy will also have to persuade other SWF advocates that this is the best use of a fund because many are focused on other goals such as the financial sustainability <a href="https://www.cfr.org/articles/sovereign-funds-and-american-investment-strategy-how-responsibly-create-us-strategic">of the federal government</a> and the nation’s <a href="https://rooseveltinstitute.org/publications/create-a-new-kind-of-sovereign-wealth-fund/">infrastructure needs</a>. </p> <h2 id="h-learn-from-tribal-and-state-innovators" class="wp-block-heading has-h4-variant">Learn from Tribal and state innovators</h2> <p class="wp-block-paragraph">Given the nation’s fiscal challenges and the lack of political consensus among federal policymakers, it is possible that Tribal nations and U.S. states are best positioned in the near term to establish or expand existing SWFs to support families’ financial well-being and wealth-building opportunities. Several states are currently exploring options to create or expand SWFs, including <a href="https://wapp.capitol.tn.gov/apps/BillInfo/Default?BillNumber=SB2639&amp;ga=114">Tennessee</a> and <a href="https://ballotpedia.org/Missouri_Creation_of_Show-Me_Prosperity_Investment_Fund_for_State_Tax_Reduction_and_Elimination_Amendment_(2026)">Missouri</a>, but only <a href="https://www.nmsto.gov/baby-bonds">New Mexico</a> has an active proposal to use investment returns to support a wealth-building initiative. There, the State Treasurer has endorsed legislation to use some of the New Mexico State Investment Council’s returns to fund a <a href="https://www.nmsto.gov/_files/ugd/23f543_5875d9a61e7b4df7906dcf135ac83979.pdf">statewide Baby Bonds program</a>. This could be a model for other states to pursue.</p> <p class="wp-block-paragraph">Aspen FSP will continue to follow the public debate and policy proposals related to SWFs and share important developments. Alaska, the Eastern Band of Cherokee Indians, and the Ho-Chunk Nation prove that SWFs based in the United States can support families’ financial well-being and enable them to build wealth. But these funds represent just one of many systemic and scalable ways that policymakers could provide everyone with <a href="https://www.aspeninstitute.org/publications/guaranteedincome-cashinfusions/">non-labor income</a> or <a href="https://www.aspeninstitute.org/programs/financial-security-program/our-priorities/wealth-and-ownership/saving-and-investing/how-to-make-trump-530a-accounts-work-for-everyone/">new sources of wealth</a>. 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2026</time></p> </div> </div> </div> <div class="dyn-card"> <div class="dyn-card__wrap"> <div class="dyn-card__media"> <figure class="dyn-card__image"> <a class="dyn-card__image-link" href="https://www.aspeninstitute.org/publications/essential-wealth-report-benchmark-for-financial-security/" tabindex="-1"> <img loading="lazy" decoding="async" width="1500" height="842" src="https://www.aspeninstitute.org/wp-content/uploads/2026/05/342A1744-copy-1500x842.jpg" class="attachment-large size-large" alt="Essential Wealth: A New Benchmark for Financial Security" style="object-position:39% 72%" /> </a> </figure> <div class="dyn-card__label"> <span class="has-meta-variant">Publications</span> </div> </div> <div class="dyn-card__content"> <h2 class="dyn-card__title has-h5-variant"><a href="https://www.aspeninstitute.org/publications/essential-wealth-report-benchmark-for-financial-security/">Essential Wealth: A New Benchmark for Financial Security</a></h2><div class="dyn-card__excerpt">Aspen FSP&#8217;s essential wealth metric is a new benchmark that measures how much wealth families need not just to survive, but to thrive. </div><p class="dyn-card__meta dyn-card__date"><button class="favorite" data-id="237743" data-state="" title="Favorites are not currently available" disabled><span class="favorite__on">Unfavorite</span><span class="favorite__off">Favorite</span><svg class="svg svg--svg-assets-svg-icon-bookmark" role="img" focusable="false" height="15" width="11"><use xlink:href="#svg-assets-svg-icon-bookmark"/></svg></button><time>June 22, 2026</time></p><ul class="dyn-card__meta dyn-card__people"><li class="dyn-card__person"><a href="https://www.aspeninstitute.org/people/steven-brown/">Steven Brown</a></li><li class="dyn-card__person"><a href="https://www.aspeninstitute.org/people/genevieve-melford/">Genevieve Melford</a></li></ul> </div> </div> </div> <div class="dyn-card"> <div class="dyn-card__wrap"> <div class="dyn-card__media"> <figure class="dyn-card__image"> <a class="dyn-card__image-link" href="https://www.aspeninstitute.org/blog-posts/sfepd-next-generation-build-wealth/" tabindex="-1"> <img loading="lazy" decoding="async" width="1500" height="844" src="https://www.aspeninstitute.org/wp-content/uploads/2026/04/SFEPD-2024-Conference_Staff-and-Conference-Extras-21-scaled-1-1500x844.jpg" class="attachment-large size-large" alt="A group of over 50 students pose for a photo in front of a stage at a conference." style="object-position:50% 17%" /> </a> </figure> <div class="dyn-card__label"> <span class="has-meta-variant">Blog Posts</span> </div> </div> <div class="dyn-card__content"> <h2 class="dyn-card__title has-h5-variant"><a href="https://www.aspeninstitute.org/blog-posts/sfepd-next-generation-build-wealth/">“Champions of Financial Literacy”: How SFEPD Is Helping the Next Generation Build Wealth</a></h2><div class="dyn-card__excerpt">Through a unique peer education model, SFEPD provides financial literacy training and professional development to thousands of HBCU students.</div><p class="dyn-card__meta dyn-card__date"><button class="favorite" data-id="183361" data-state="" title="Favorites are not currently available" disabled><span class="favorite__on">Unfavorite</span><span class="favorite__off">Favorite</span><svg class="svg svg--svg-assets-svg-icon-bookmark" role="img" focusable="false" height="15" width="11"><use xlink:href="#svg-assets-svg-icon-bookmark"/></svg></button><time>April 8, 2026</time></p> </div> </div> </div> <div class="dyn-card"> <div class="dyn-card__wrap"> <div class="dyn-card__media"> <figure class="dyn-card__image"> <a class="dyn-card__image-link" href="https://www.aspeninstitute.org/publications/colorados-tenant-equity-vehicle-a-pioneering-approach-to-renter-wealth-creation/" tabindex="-1"> <img loading="lazy" decoding="async" width="1500" height="1186" src="https://www.aspeninstitute.org/wp-content/uploads/2026/03/Gary-TEV-graphic-gradient-1500x1186.png" class="attachment-large size-large" alt="Colorado’s Tenant Equity Vehicle: A Pioneering Approach to Renter Wealth Creation" style="object-position:28% 46%" /> </a> </figure> <div class="dyn-card__label"> <span class="has-meta-variant">Publications</span> </div> </div> <div class="dyn-card__content"> <h2 class="dyn-card__title has-h5-variant"><a href="https://www.aspeninstitute.org/publications/colorados-tenant-equity-vehicle-a-pioneering-approach-to-renter-wealth-creation/">Colorado&#8217;s Tenant Equity Vehicle: A Pioneering Approach to Renter Wealth Creation</a></h2><div class="dyn-card__excerpt">This case study from Gary Community Ventures and Aspen FSP explores the design, policy, and financing tools that made the Colorado Tenant Equity Vehicle (TEV) possible.</div><p class="dyn-card__meta dyn-card__date"><button class="favorite" data-id="169075" data-state="" title="Favorites are not currently available" disabled><span class="favorite__on">Unfavorite</span><span class="favorite__off">Favorite</span><svg class="svg svg--svg-assets-svg-icon-bookmark" role="img" focusable="false" height="15" width="11"><use xlink:href="#svg-assets-svg-icon-bookmark"/></svg></button><time>March 10, 2026</time></p> </div> </div> </div> <div class="dyn-card"> <div class="dyn-card__wrap"> <div class="dyn-card__media"> <figure class="dyn-card__image"> <a class="dyn-card__image-link" href="https://www.aspeninstitute.org/blog-posts/what-comes-next-for-530a-accounts-trump-accounts/" tabindex="-1"> <div class="dyn-card__image-placeholder"> <span class="a11y">Placeholder</span> </div> </a> </figure> <div class="dyn-card__label"> <span class="has-meta-variant">Blog Posts</span> </div> </div> <div class="dyn-card__content"> <h2 class="dyn-card__title has-h5-variant"><a href="https://www.aspeninstitute.org/blog-posts/what-comes-next-for-530a-accounts-trump-accounts/">The World Is Watching: What Comes Next for 530A Accounts (“Trump Accounts”)</a></h2><div class="dyn-card__excerpt">530A Accounts (aka Trump Accounts) are gaining more traction than many anticipated. Here&#8217;s what comes next for the policy.</div><p class="dyn-card__meta dyn-card__date"><button class="favorite" data-id="167007" data-state="" title="Favorites are not currently available" disabled><span class="favorite__on">Unfavorite</span><span class="favorite__off">Favorite</span><svg class="svg svg--svg-assets-svg-icon-bookmark" role="img" focusable="false" height="15" width="11"><use xlink:href="#svg-assets-svg-icon-bookmark"/></svg></button><time>February 18, 2026</time></p><ul class="dyn-card__meta dyn-card__people"><li class="dyn-card__person"><a href="https://www.aspeninstitute.org/people/kc-boas/">KC Boas</a></li></ul> </div> </div> </div> <div class="dyn-card"> <div class="dyn-card__wrap"> <div class="dyn-card__media"> <figure class="dyn-card__image"> <a class="dyn-card__image-link" href="https://www.aspeninstitute.org/blog-posts/growing-the-pie-lessons-on-wealth-building-with-devin-murphy/" tabindex="-1"> <img loading="lazy" decoding="async" width="1500" height="1000" src="https://www.aspeninstitute.org/wp-content/uploads/2025/12/A100_Sept18-2024_01584-1500x1000.jpg" class="attachment-large size-large" alt="Growing the Pie: Lessons on Wealth Building with Devin Murphy" style="object-position: 50% 50%" /> </a> </figure> <div class="dyn-card__label"> <span class="has-meta-variant">Blog Posts</span> </div> </div> <div class="dyn-card__content"> <h2 class="dyn-card__title has-h5-variant"><a href="https://www.aspeninstitute.org/blog-posts/growing-the-pie-lessons-on-wealth-building-with-devin-murphy/">Growing the Pie: Lessons on Wealth Building with Devin Murphy</a></h2><div class="dyn-card__excerpt">Aspen FSP Fellow Devin Murphy is committed to growing models of wealth building so that all U.S. families can thrive. Learn more about his work in this Q&amp;A.</div><p class="dyn-card__meta dyn-card__date"><button class="favorite" data-id="162596" data-state="" title="Favorites are not currently available" disabled><span class="favorite__on">Unfavorite</span><span class="favorite__off">Favorite</span><svg class="svg svg--svg-assets-svg-icon-bookmark" role="img" focusable="false" height="15" width="11"><use xlink:href="#svg-assets-svg-icon-bookmark"/></svg></button><time>January 8, 2026</time></p><ul class="dyn-card__meta dyn-card__people"><li class="dyn-card__person"><a href="https://www.aspeninstitute.org/people/devin-murphy/">Devin Murphy</a></li></ul> </div> </div> </div> <div class="dyn-card"> <div class="dyn-card__wrap"> <div class="dyn-card__media"> <figure class="dyn-card__image"> <a class="dyn-card__image-link" href="https://www.aspeninstitute.org/publications/measuring-essential-wealth-primer-2025/" tabindex="-1"> <img loading="lazy" decoding="async" width="1500" height="842" src="https://www.aspeninstitute.org/wp-content/uploads/2025/12/342A2020-1500x842.jpg" class="attachment-large size-large" alt="Post-it notes cover a wall during a brainstorm activity" style="object-position: 50% 50%" /> </a> </figure> <div class="dyn-card__label"> <span class="has-meta-variant">Publications</span> </div> </div> <div class="dyn-card__content"> <h2 class="dyn-card__title has-h5-variant"><a href="https://www.aspeninstitute.org/publications/measuring-essential-wealth-primer-2025/">Families Need Wealth. But How Much Is Essential?</a></h2><div class="dyn-card__excerpt">Attaining a baseline of security, mobility, and well-being requires wealth. But exactly how much is needed? This brief aims to offer a path toward greater empirical understanding of what constitutes essential wealth and how to measure it. </div><p class="dyn-card__meta dyn-card__date"><button class="favorite" data-id="162953" data-state="" title="Favorites are not currently available" disabled><span class="favorite__on">Unfavorite</span><span class="favorite__off">Favorite</span><svg class="svg svg--svg-assets-svg-icon-bookmark" role="img" focusable="false" height="15" width="11"><use xlink:href="#svg-assets-svg-icon-bookmark"/></svg></button><time>December 18, 2025</time></p><ul class="dyn-card__meta dyn-card__people"><li class="dyn-card__person"><a href="https://www.aspeninstitute.org/people/steven-brown/">Steven Brown</a></li><li class="dyn-card__person"><a href="https://www.aspeninstitute.org/people/katherine-lucas-mckay/">Katherine Lucas McKay</a></li></ul> </div> </div> </div> <div class="dyn-card"> <div class="dyn-card__wrap"> <div class="dyn-card__media"> <figure class="dyn-card__image"> <a class="dyn-card__image-link" href="https://www.aspeninstitute.org/videos/we-dont-have-to-choose-between-stability-and-wealth/" tabindex="-1"> <img loading="lazy" decoding="async" width="1500" height="844" src="https://www.aspeninstitute.org/wp-content/uploads/2025/07/Generic-web-header-1500x844.png" class="attachment-large size-large" alt="Video: We Don’t Have to Choose Between Financial Stability and Wealth" style="object-position: 50% 50%" /> </a> </figure> <div class="dyn-card__label"> <span class="has-meta-variant">Blog Posts</span> <span>Videos</span> </div> </div> <div class="dyn-card__content"> <h2 class="dyn-card__title has-h5-variant"><a href="https://www.aspeninstitute.org/videos/we-dont-have-to-choose-between-stability-and-wealth/">Video: We Don&#8217;t Have to Choose Between Financial Stability and Wealth</a></h2><div class="dyn-card__excerpt">Households need tools that help them afford everyday life and build long-term security. Too often, policy systems fail to respond to both of these needs and instead prioritize one goal over the other.</div><p class="dyn-card__meta dyn-card__date"><button class="favorite" data-id="153917" data-state="" title="Favorites are not currently available" disabled><span class="favorite__on">Unfavorite</span><span class="favorite__off">Favorite</span><svg class="svg svg--svg-assets-svg-icon-bookmark" role="img" focusable="false" height="15" width="11"><use xlink:href="#svg-assets-svg-icon-bookmark"/></svg></button><time>September 30, 2025</time></p><ul class="dyn-card__meta dyn-card__people"><li class="dyn-card__person"><a href="https://www.aspeninstitute.org/people/tim-shaw/">Tim Shaw</a></li></ul> </div> </div> </div> </div> </div> <p>The post <a href="https://www.aspeninstitute.org/blog-posts/sovereign-wealth-funds-financial-security/">Could Sovereign Wealth Funds Improve U.S. Households’ Financial Security?</a> appeared first on <a href="https://www.aspeninstitute.org">Aspen Institute</a>.</p>