How Ronco Johnson founded a multi-million dollar firm after a life-threatening injury and a $70K debt

Stephen Nartey May 24, 2023
Ronco has been able to help five percent of America’s top earners to preserve their wealth for the future. Photo credit: When The Lights Are Out with Ronco Johnson via Facebook

Founder of multi-million dollar firm, L.R. Johnson & Associates, Ronco Johnson, had a bubbly ambition to pursue a career as a professional athlete after college, until a life-threatening injury tore his patella. It took doctors 12 hours to operate and correct the defect, and four years to learn how to walk again. Though he celebrated his miraculous ability to walk again, Ronco had to deal with the fact that his blissful career ended before his feet finally gained ground.

However, he already had a bachelor’s degree in radio and television broadcast and had practiced for seven years as an on-air personality in Atlanta, Georgia. He later decided that if he couldn’t make it to the hall of famed athletes, he needed to be in a position of influence someday.

Ronco observed that many of his celebrity friends in his circles lacked financial literacy and spent their money in profligate ways. This inspired him to redirect the course of their lives through the first business he established to offer his clients professional advice. The life of many of his family members who were at the peak of their careers in sports were now poor.

Ronco’s appreciation of this reality compelled him to start an advocacy-driven business in financial literacy and selling insurance to entertainers, athletes, and wealthy business professionals. He knew the surest way they could break free from the cycle of being broke someday was to gain knowledge and understand that managing their finances was a life skill and not about having a million dollars stashed in some account, according to eventual millionaires.

He had already been at the lowest point of his life the second time and was prepared to signal those who will listen to escape the drudgery of the working class. He found himself drowned in a $70,000 debt at one stage of his life, which he was able to pay off once he acquired financial education. It was during this point he started off the journey to building his own firm.

Ronco first started working with the New York Life Insurance Company after he resigned from his job as an on-air personality. After years of gaining experience and assuring his clientele they could trust him with their funds, he established L.R. Johnson & Associates. The firm provides insurance and financial services to many clients in different states.

He now runs a successful financial advisory firm, making millions of dollars from selling insurance and protecting the investments of A-list professionals.

Since then, he has been able to help five percent of America’s top earners to preserve their wealth for the future, and also establish a foundation to help 95 percent of the working class who cannot afford the services of a financial consultant.

The foundation visits corporations and schools to engage with young adults to teach them about financial literacy. He provides them with knowledge on how to set up a business and sustain its growth.

Last Edited by:Editor Updated: June 11, 2023


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