Norway Invests Its Lottery Winnings
Can you manage $1 trillion for the long-term prosperity of over 5 million people? If so, apply to Norway’s one-of-a-kind Sovereign Wealth fund!
For most of history, Norway scraped by as a fishing economy. Frugality was the order of the day, every day, and the country played catch-up in most areas. In its recent history, however, oil has come to the rescue!Â
The late 1960s saw Norway hit the mother lode in the North Sea, and go from rags to riches seemingly overnight. In may surprise you to know that, according to the World Bank, Norway was the wealthiest country in the world in 2018. It’s also ranked as the happiest country, and the freest, so take that, America!
What separates Norway from the United Arab Emirates, Saudi Arabia, and other oil-rich countries is just good old fashioned money management. Instead of building helipad tennis courts or funding risky start-ups, Norway took to the markets. A Norwegian Sovereign Wealth fund holds stocks, bonds, property, and more! It’s conservative, it’s diversified, it’s sustainability-focused, and it ensures Norway never has to worry about paying the bills. Bliss!
So, take your financial advice from the Norwegians! Instead of flexing a small fortune, make sound, long-term investments that will compound the money over time into a big fortune. Why? Because according to Norway, money really does buy happiness!
