Admit it, you’ve probably thought about what you would do if you were running the country, even for a day.

I know I have. In fact, I came up with a long list of things.

Here are my top three, in no particular order, along with some explanations of why (To see the complete list, check out my book, Worry Free Retirement):

1. You Can’t Cash Your Paycheck Until You Are Financially Literate

Basic financial education would be a requirement in every public and private school. In fact, you would not be allowed to cash your first paycheck until you complete the required course.

This rule applies to high school students working part-time.

If you have to take a written test and demonstrate your skills in order to get a driver’s license, there should be a similar requirement that you have certain money management skills when you start earning money.

I believe money—especially credit cards—in the hands of someone with no basic financial training can be very damaging.

2. Eliminate Hidden Fees

All investment companies (brokerage firms, mutual funds, banks, insurance companies, 401k plans, etc.) would be required to tell you in plain English how much money was deducted from your account to pay for fees at least once a year.

Anyone giving you advice including financial advisors, insurance agents and stockbrokers, in addition to CPA’s and attorneys, must fully disclose all income and commissions on the products they sell you.

3. Fix the Tax Law

Anyone holding Public Office MUST file his or her own personal and/or business tax returns by hand using only the IRS provided instruction booklets.

No computers, software or accountants can be used. I would hope that this would quickly lead to reform of the awful tax code.

I would suggest a national sales tax. For more information go to www.fairtax.org.

What would you do if you ran the country for a day? Send your thoughts and comments to info@fmcretire.com.