Name: Voya Financial CEO Gives Us His Best Financial Advise
Uploaded: 2017-04-14
Duration: 4 min 33 s
Description: We sat down with Voya Financial CEO Rodney Martin to get the advice he gives his customers about investing long term.

Rod you manage something like half a trillion dollars and a lot of that money is invested in the market. I mean given that the stock market is so unpredictable and uncertain right now, what do you think is the most important issue for investors. We are bullish on the long term prospect for the market. We are cautiously optimistic, on rising interests rates, that's good for our customers, it's good for America. But our biggest caution for our customers is the, not jumping in and out of the market, being consistently invested. With an appropriate diversification to accomplish their long- term objectives. Mm- hm, you bring up interest rates. We know that the Federal Reserve is gonna be raising rates, they've made that very clear. Some people say, hey, that's gonna be great for people who are savers, but maybe not so good for the economy. Where do you stand on that? Well again, we're in the saving business so on the saving part I would very much agree with the point. We think rising interest rates certainly for the retirement business are a good thing for Americans. It's a good thing for [ INAUDIBLE ] it's a good thing. But, as you point out, with rising interest rates, costs of other things are likely to increase over time. That could be a car loan, a mortgage loan, etc. And so there's a balance on how that will affect a consumer. How about for the economy? I think, generally, it's good for the economy. My experience is when markets improve, equity markets or interest rate markets, People generally feel better about things. They feel better about seeing their bank account a little bit larger this month then last month or their 401K statement a little bit larger this quarter then it was the quarter ago. And that generally encourages and puts a little bit of wind under their wings of how they're feeling about both their progress and the economy overall. But when you look around what's going on around the globe, it just seems like there are so many things to be worried about. Whether it's about what's going on in Syria, North Korea, Brexit, the European elections, is this causing you to change your investment strategy Ed Voyer? We have Modestly adjusted over a period of time but it's not a radical adjustment. Again, because we weren't swinging for the fences before we're not doing it today. We are having to make and keep promises over the next 10, 15, 20, 30 and 40 years. A lot of CEOs have been telling me that they're in favor of. The Trump administration's proposals for a tax cuts and reducing regulations. Infrastructure projects, but all this seems up in the air right now. How do you think all this is gonna play out? Certainly there's been a swing as you point out. I think generally investment in the economy is going to be a good thing. Generally, taxes at a lesser rate for companies, and we do business with a lot of small companies, is a good outcome and therefore it's a good outcome for the companies and for our customers. It's a good outcome for FOIA, but we've got to be prepared to deal. With whatever the market presents us as we go through this. You know President Trump has been talking a lot about boosting the US economy dramatically From what you've seen what he's done so far, how realistic is this? We have seen, even in the short time a change in the attitude. From businesses that we do business with. And I'm encouraged by that. I can absolutely say that we've seen a change in attitude favorably toward a growing economy, an improving GDP. The improvement, even though it's been short term since the election, of the stock market. Against the caution of there's a very challenging world out there. What is the most critical thing that you would like President Trump to do that you haven't seen so far, or even that he's talked about. I think it's time to start executing a few things that he has talked about. Whether that's the infrastructure spend, the tax policy We need to get at this in a bipartisan, all American, focused way. Not just Republican or Democratic way to move on with this. I think America is looking for that. I think we will all be beneficiers of that outcome and I would encourage him to do that. [ BLANK_AUDIO ]

Voya Financial CEO Gives Us His Best Financial Advise

We sat down with Voya Financial CEO Rodney Martin to get the advice he gives his customers about investing long term.