5 types of money management personalities

Which type of investor are you?
Looking into Americans’ relationship with money reveals that there aren’t just strengths and weaknesses in how people approach money, but distinct types of money management personalities.
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Watchers

Watchers have savings, but they have no investments, and they are not interested in investing either.

Waiters

Waiters have savings, but they have no investments. Unlike Watchers, these people are interested in investing.

Wanderers

Wanderers have savings and investments and, - they keep at least 25% of their portfolios in cash.

They feel confident they are making the right savings and investment decisions even though they have no financial plan for retirement.

Wonderers

Wonderers have savings and investments, they keep at least 25% of their portfolios in cash.

Wonderers are not confident they are making the right savings and investment decisions.

Winners

Winners have both savings and investments, have a formal plan for retirement and have diversified out of cash (less than 25% cash allocation).

The 5 money management types: characteristics and challenges

While there are general best practices that can help all Americans make the best of their money, not everyone has the same challenges. Some are wary of investing, others are overconfident. Learn more about how different types of investors can build on their positive values and begin to address their investing challenges.

Taking Action

Each money management persona comes with their own unique set of challenges, but there are general best practices that can be leveraged by different kinds of people, depending on where they need to focus on improving.

01.
Advice

Ask for advice on investing. Part of the emotional barriers to investing (like the anxiety associated with risk) can be helped by a sense of control that comes from having more knowledge about it and a source with more expertise to work with.

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02.
Make a plan

Only 14% of Americans have a financial plan for retirement. Making a plan is a crucial first step to success.

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03.
Learn more

Winners feel the most knowledgeable about financial products and services (82% knowledgeable). Learning more about investing and investing products available helps us make the most of our money.

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