When it comes to money, your personality has a huge impact on financial decision making and risk taking.
University of Georgia researchers looked at the “Big Five” personality traits: openness, conscientiousness, extroversion, agreeableness, and neuroticism (OCEAN).
They identified three distinct combinations of traits with financial outcomes.
Study leader, Ph.D student Jim Exley says, “Based on our results, the people with the best financial outcomes tend to be those who are well-adjusted, more extroverted and less neurotic. They’re also willing to take some risks, but they don’t take too many.”
Exley adds, “The industry requires us to measure this thing called risk; but I was talking to people and understood that there’s more to somebody’s financial life than just their risk tolerance.”
Seek out more, here: (EurekAlert!)