Tom asked the obvious question, "What happened to change that?"
"Nobody listened." Roy's wry chuckle didn't mask the seriousness of his response. "Oh, I shouldn't say nobody. Some of my pupils followed my advice on saving, spend-ing, and credit management. Well, at least one did. And he's certainly not in this room." Roy nodded toward James Murray, Jimmy, and Clyde.
"After all—" Tom started.
"Let me finish," Roy said politely. "Almost everyone I've taught over the years has developed the winning habit of saving ten percent of his or her income and investing it for growth. I would guess that ninety-five percent of them have drafted wills and purchased and maintained appropriate life insurance. And, of course, they've contributed to the retirement plans of their choice. Basically, they've combined common sense with simple but effective strategies to move toward all of their financial goals.
"But when it came to following my advice about day-to-day things like developing household budgets, avoiding credit cards, and exercising a degree of self-control —which is really all thrift is—generally, people ignored me."
"Why?" Cathy huffed. "If it weren't for you, many of those people would have faced bleak financial futures."
"As one who chose to ignore the teachings of a man whom he once called 'his financial savior,' perhaps James could answer that question."
We all turned our attention to James Murray. He smiled. "Saving ten percent of your income and investing it in a properly selected long-term growth vehicle; making a will; buying the proper amount and type of life insurance;