Filed Under:Markets, Gen X Y

The personality trait that predicts financial health

Are your clients more oriented toward the past, the present or the future?
Are your clients more oriented toward the past, the present or the future?

It may not be what you know, or even who you know, but who you are that shapes your financial future.

That is the implication of a new study of financial decision making that shows little correlation between financial knowledge and financial health.

Those living in the present, however, are more apt to be “hedonists” who “take what they want, when they want it without any thought of future consequences. Candy displays at checkout counters and other checkout “upgrades” are effective on this group.

“They are willing to gamble their life savings, spend money they don’t have and ignore the consequences of poor financial decisions,” the summary states.

Originally published on ThinkAdvisor. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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