Steve Forbes give money advice to Syracuse business leaders
Thu, 03 May 2012 03:28:54 GMT —
Top business leaders stopped in Syracuse Wednesday night at the OnCenter to give hundreds advice to secure a stable financial future.
The money conversation started by playing to the Syracuse crowd, the orange wouldn't go into a game without a plan. The financial experts told a crowd of more than 400 business men and women that your life and your business needs a game plan too.
"Changes are coming, and you want to be in a position to benefit from those changes," said business man Steve Forbes, Chairman and Editor-in-Chief of Forbes Magazine.
Forbes gave out some valuable money advice on how to get through this tough economy, and plan for a rewarding future.
CEO of Northwestern Mutual John Schlifske says everyday market ups and downs should not steer you away from your long-term strategy. "Think longer term, don't get caught up in short term volatility," he said. "There's no doubt some of the worst times can create some of the best business models."
The money experts say energy independence, a focus on innovation and using our growing population can fuel our economy. And speed up what's been a very slow financial recovery.
They also say you need to be more cautious about your retirement because today's economy coupled with increased life expectancy means there is an increased risk for people to deplete their assets too soon.
"Its hard enough to make a successful business but if you're fighting regulations, fighting crazy state taxation it makes me very difficult," said Forbes. "There is no reason why this area shouldn't be booming. If you create the right environment and have an environment with enough moisture things will grow."
Schlifske and Forbes also recommend cutting spending, saving in addition to investing and dollar-cost averaging to help ensure a stable financial future.