Wednesday, September 17, 2008

What I Learned from Lunch with Ron Blue

I learned that Ron and I are a lot alike. After the stock market tanked and subsequently rebounded in 1987 (does the first half of that story sound familiar?) Ron testified before Congress.

Senetor Dodd asked him what Americans need to do to survive. Ron said "Easy, we all need to do 4 things." When someone like Ron gives you a list of things you need to do, you grab a pen and get ready to write.
  1. You need to spend less than you make
  2. You need to get out of debt and stay out
  3. You need to have an emergency fund
  4. You need to have long-term goals instead of living for today.
If you know me at all you'll be familiar with this list because it's exactly what I teach! Download the steps if you like.

Senator Dodd was just as intrigued as I was when Ron announced he had a list and took diligent notes. The Senator was dumbfounded that it could be that easy. Ron's response? If it works for the people Senator, it also must work for the government."

Point taken Ron. Thanks for lunch.

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