My journey is similar to many other New Mexicans, in that it took a lot of hard work, hope, resilience, community, and prayer to keep pushing forward to work towards something better for me and my family. Dreams were the hope that helped drive the determination to keep pushing forward, but survival was always at the forefront of every decision and job I undertook. Financial struggle, living paycheck-to-paycheck to make ends meet — a typical New Mexico story. Add limited resources, knowledge and opportunity, and you have an equation for failure or extreme disappointment. Unless you have a strong mental base, family/community network, extreme work ethic, and people that are willing to pour into you, it is really hard to change the outcomes of generational poverty.

Many know me to say, "teamwork makes the dream work," but rarely know that it stems from my childhood and knowing that everyone in the family had to contribute to the household. Most know about my professional positions working for US and State Senators and State Treasurers, but my first jobs were cleaning houses, babysitting, working at gas stations, a grocery store, restaurants, work-study, and bars. These jobs started the foundation of a strong hustle mindset, working as part of a team, and familiarizing myself with long work hours and limited sleep. The hustle continued while earning a HS diploma, a bachelor's degree and a master's degree from my hometown college.

Given that most higher education students across New Mexico face challenges securing stable housing and enough nutritious food, there clearly exist systemic pitfalls that lead to poor outcomes and hold our state back from reaching its fullest potential. The last thing anyone needs when working to achieve their goals is to worry about how they're going to survive. When I say "survive", I mean basic needs like a safe place to sleep, food to eat and safe transportation to work, to school or both.

We don't have to keep perpetuating this narrative.

That's why I'm advocating for the legislature and Governor to pass "New Mexico Baby Bonds" legislation, a revolutionary idea developed by world-renowned economist Dr. Darrick Hamilton.

If passed the way I envision, after July 1, 2025, every baby born in New Mexico would have $7,000 secured in a government-funded trust account that would be invested by the State Investment Council. Recipients will be required to complete a financial literacy component approved by the State Treasurer's Office before being allowed to have indirect access after they turn 18. The fund (which is expected to have approximately $20K/recipient by the time they are 18, $35,000 if they didn't use it until they were 35) can be used for higher education, NM trade school, a down payment on a NM home, or retirement, just to name a few.

We have the need, and we already have the money! NM is ranked the poorest state in the nation, yet, has the second largest permanent fund in the country (totaling appx $58 Billion - $9 Billion which is in the Early Childhood Education Trust Fund). $1 Billion is calculated to allow for an investment for every baby born in NM until after 2060.

Generational Poverty does not have to be the typical narrative or everyday NM childhood story. Baby Bonds can give access to wealth, bridge the wealth divide, improve health outcomes and strengthen our economy. We say that our children are our greatest asset, resource and our future.... Now is the time to put our money where our mouth is and start investing in our babies.

-Laura M. Montoya
NM State Treasurer

Laura M. Montoya became New Mexico's first female State Treasurer on January 1, 2023, and the nation's first elected Latina State Treasurer, bringing the office over two decades of experience in banking, investments, and public policy. Under Treasurer Montoya's direction, the office manages the state's $17 billion investment portfolio. The Treasurer serves on 13 boards, councils, and commissions with fiduciary responsibility for state funds exceeding $90 billion.