How this helps with your bottom line

• Adventurers are open to discovering better ways to manage and grow their money. 
• You might be more likely to fill your investment portfolio with many different types of investments. Diversification can potentially reduce the ups and downs of your portfolio, even if it’s not a guarantee against losses. 
• Your willingness to take on risk may also help you achieve better returns in the long run.

Pitfalls to avoid

• Chasing hot new investing trends could trip you up. Try to balance the benefits of diversification against taking on too much risk. 
• Consider, if it’s appropriate, using a small portion of your portfolio for exciting or out-of-the-box investments, while keeping the rest of your savings invested in a diversified mix of less risky options.

How is my money personality determined?

How this helps with your bottom line

• Benefactors are good at planning and saving for their family's needs and future. 
• You may be taking advantage of investment products that offer tax benefits and would benefit your loved ones, such as a savings account for health care or education expenses 
• You may also be giving to charitable causes each year, which has tax benefits as well.

Pitfalls to avoid

Though your first instinct may be to spread your money around to people and causes you care about, you may be forgetting someone important: you!

• Make sure you aren’t sacrificing your own financial future for the sake of others.
• As a Benefactor you may also try to live beneath your means to ensure you have extra money to pass along to your loved ones. Don't leave yourself and your own happiness behind.
• Remember that you need to be financially and emotionally well before you can be truly useful to others.

How is my money personality determined?

How this helps with your bottom line

• Creatures of Habit stick with tried-and-true money strategies, avoid hot new investing trends, and try not to take on too much risk in their portfolios.  
• You’re likely to stay the course and stick with your financial plan even when the market is rocky or life throws you a curve ball.  Experts agree this is an effective approach over the long haul.  

Pitfalls to avoid

Your preference for familiar investments could lead you to:

• Focus your investments too narrowly, such as investing in your company stock too heavily.
• Invest too conservatively, which leads to lower returns in the long run.

How is my money personality determined?

How this helps with your bottom line

• When an investment starts to drop, Defenders are the first to consider selling. Your instincts can sometimes serve you well as you're less likely to hold onto a losing stock with poor prospects to rebound for too long. 
• You avoid investments that seem too risky, hoping to make your savings more secure.

Pitfalls to avoid

• While pulling money out of a falling market could help you avoid further losses in the short term, history shows that reactionary changes to long-term investment plans will likely lose money over the long haul. 
• Next time the market has you spooked, consider getting a second opinion from a financial advisor who can assess how a change might affect your portfolio over time.

How is my money personality determined?

How this helps with your bottom line

Unlike many people, Extroverts aren’t afraid to talk about money.  You tend to seek advice when you need help rather than trying to go it alone.  Being socially oriented helps you learn about different strategies and how people are managing their money.

Pitfalls to avoid

• Extroverts are especially susceptible to what behavioral scientists call herding bias or the desire to follow the crowd, which can sometimes lead to investment missteps.  
• Consider speaking with a professional or using a financial advisor as a sounding board for your ideas before you move forward with them.

How is my money personality determined?

How this helps with your bottom line

Improvisers would rather spend their time and energy on things that make them happy, so they’re more open to “outsourcing” and letting others help with money matters.  You probably don’t sweat the small stuff when it comes to your finances—ignorance can be bliss, right?

Pitfalls to avoid

• Though financial planning does not come naturally to you, you should get a rough idea of your spending and saving over time. A review of your accounts every few months might help you make sure you’re not spending more than you earn.
• For savings, you can start by thinking about your goals, or what you’d like to save for. Determine how much you need to save and put away a little every month.  Consider automating your savings through direct deposit from your paycheck to make this step even easier.

How is my money personality determined?

How this helps with your bottom line

• Optimism is a hallmark quality of successful investors. You believe that the value of your stock market investments will ultimately grow over time.
• A positive outlook helps you stay the course when markets are down.
• Optimism can also help you save bit by bit over time because you understand how you'll benefit from the savings later in life.

Pitfalls to avoid

• Being too optimistic or confident can make you trade too much, take on too much risk, and blind you to the reality of how your investments are performing. 
• An annual review of your portfolio might be a good gut check to compare your positive perception with an actual analysis of your accounts. You still want to do your research before investing in anything. After all, not all stocks are winners.

How is my money personality determined?

How this helps with your bottom line

• Planners know how much money they make, spend, and save. You have a budget and you rarely stray from it.
• You’ve probably created a financial plan—a roadmap for how to invest. You’ve decided on some clear goals, and you check in often to confirm you’re still on track. Basically, all your ducks are in a row: Nice work!

Pitfalls to avoid

• You’re great at tracking your money and goals but it’s OK to step away from time to time.
• Constantly checking your long-term investment account might cause more stress than necessary as markets go up and down and increase your chance of making a reactionary mistake.
• Sway from the budget occasionally and reward yourself by splurging on something that would make you or your family happy or save you valuable time.

How is my money personality determined?

How this helps with your bottom line

• Skeptics are less susceptible to biases that fool many investors into thinking they're experts when they're not. This helps you avoid trading too frequently, seeking risky investments, or trying to "outsmart" the crowd.
• Since you're honest about the potential to lose money, you may not react as strongly to inevitable downturns in the market.

Pitfalls to avoid

• Though investing does involve risk of loss, you also risk losing out on potential market gains and returns when you keep your savings in cash.
• To manage volatility and help grow your money at the same time, consider diversifying—spreading your money across different investments—with a mix of stocks, bonds, and cash savings that you can be comfortable with over the long term. Even if you have a negative outlook of the stock market overall, you can still reap the benefits with simple investing strategies.

How is my money personality determined?

How this helps with your bottom line

Solo Flyers prefer to manage their money alone. You likely gravitate toward solo experiences like online banking, digital planning, webinars, or online trading. You can use your quiet time to research investment options and take advantage of online resources for tips on saving and helping to grow your money.

Pitfalls to avoid

• Though talking to someone about your finances might sound uncomfortable, it never hurts to get a second opinion.
• Whether it’s with a financial advisor or another trusted professional, it can be helpful to talk through your goals and weigh the pros and cons before making big financial decisions.
• If talking to someone in person isn’t your style, many financial firms give you the option to speak with someone over the phone or even meet by video.

How is my money personality determined?

How this helps with your bottom line

• Standouts have a good relationship with their money and take pride in accomplishing their goals. 
• Earning more and growing your net worth helps you feel successful. 
• Your interest in building wealth motivates you to make sound financial decisions and accept financial advice.

Pitfalls to avoid

• In your zeal to build wealth, you may sometimes overlook charitable donations or put them last on your list of priorities. 
• Charitable giving can be an important part of any long-term plan to build and maintain wealth, specifically because of the tax benefits you could receive. 
• Consider adding charitable gifts into your annual spending routine, paying attention to how those gifts might positively affect your tax obligation. Help yourself by helping others.

How is my money personality determined?

How this helps with your bottom line

• When the stock market dips, Steady Riders never panic. You understand that the change is temporary and that you have time to wait for the market to recover.
• Experts agree that staying calm and sticking to a plan during times of market volatility can be one of the best strategies when investing for long-term goals. Keep up that cool attitude.

Pitfalls to avoid

• Though "steady as she goes" is a sound approach to investing, you should occasionally check in on your portfolio and mix of investments to ensure you're still on track.
• As you move closer to big money milestones like retirement, you may want to reassess parts of your strategy and tolerance for investment risk, as you'll have less time to weather market ups and downs before it's time to cash in on all that saving.

How is my money personality determined?