Due to genetic heritage and the diversity of environments in which we were raised, such as different homes, neighborhoods, and schools, each individual develops a unique personality over time
In this context, it’s important to understand how certain types of financial personalities form over time.
Pursuing financial prosperity will be difficult if we choose a path that is not in harmony with our essence.
However, selecting a path aligned with our personality makes achieving financial prosperity practically possible.
The saver investor personality
Risk-Averse: Saver investors have a low tolerance for risk, avoiding ventures they consider overly risky.
Work-Life Balance: Those with a saver mindset are not willing to dedicate excessive hours to work. They prefer a balanced approach, reserving time for family and friends. They find happiness in relationships, not material possessions. Throughout their careers, they typically remain loyal to one, two, or at most three employers.
Discipline: Saver investors establish and follow a financial plan. They are disciplined in saving and investing their resources over many years. Many use budgets to help maintain their savings and investment plans, often starting early, between their twenties and thirties.
Frugality: Saver investors spend their money wisely, seeking the best product or service for the lowest price. They avoid unnecessary, impulsive, or emotional spending and do not succumb to extravagant lifestyles or social pressures. They live modestly, saving and investing 20% or more of their net income. Their housing, vehicle, and travel choices are restrained, with little interest in accumulating material possessions or luxury items.
Debt Aversion: Saver investors avoid accumulating debt. They pay off loans early and do not use credit cards or incur debt through them. They opt for high-quality used vehicles paid for in cash or with small loans that are paid off quickly.
Low Stress Tolerance: Saver investors are averse to stress. They seek low-pressure jobs and are content playing a role within the machinery of their organizations, not aspiring to high-responsibility or high-stress positions. They find satisfaction in performing their jobs and receiving their pay, without great aspirations beyond that.
Traits of the company climber
Value Formal Education: Company climbers hold at least a college degree. Some have advanced degrees like MBAs, specializations, and even doctorates. They also embrace self-education.
Commitment to Self-Development: Company climbers dedicate at least thirty minutes daily to self-development. They read periodicals, blogs, and books related to their field. They are students of their industry and profession.
Political Skills: Company climbers are highly political within their organizations and industries. Their political acumen helps them climb the corporate ladder. They build strategic alliances with high-level influencers in the company and sector, hoping these relationships will lead to promotions or executive-level opportunities. They can navigate the political betrayals common in many large organizations, dedicating part of their day to cultivating and maintaining relationships with their influencers.
Strong Work Ethic: Company climbers are willing to work long hours to ascend the corporate hierarchy. They often travel for business, spending time away from family and friends, prioritizing work over personal life.
High Stress Tolerance: Company climbers have an innate or acquired ability to handle high levels of stress.
High Risk Tolerance: Company climbers are willing to take risks in their quest for corporate advancement, accepting high-level projects and responsibilities, knowing their future wealth depends on the company’s success. If the company struggles, fails, or is acquired by a competitor, they face the consequences, putting all their eggs in one basket: the company they work for.
Extroversion and Sociability: Company climbers enjoy working in teams and with people. They are sociable and extroverted, thriving on social interactions in the workplace and gaining energy from their colleagues.
Competitiveness: Company climbers thrive in competitive environments, enjoying competing with others and having a “winner takes all” mentality.
Knowledge-based virtuoso personality
Value Formal Education: Like company climbers, knowledge-based virtuosos hold at least a college degree. Many have advanced degrees like master’s or doctorates.
Commitment to Self-Development: Virtuosos dedicate an hour or more daily to self-development, reading periodicals, blogs, and books related to their field, being avid students of their industry.
Low Stress Tolerance: Knowledge-based virtuosos prefer calm, tranquil environments to perform at their best.
Introverts: Most virtuosos are happier working alone or in isolation, viewing socializing as a waste of time and feeling uncomfortable speaking to groups, although they often need to do so to share their knowledge and expertise.
Strong Concentration and Focus: Virtuosos have natural or developed abilities in concentration and focus, dedicating long hours to intense study and analysis with highly disciplined minds.
Non-Competitive: Most knowledge-based virtuosos do not thrive on competition, having little interest in comparing themselves with others or excelling in their field for recognition or status. Their primary motivation is to acquire knowledge and improve their skills.
Skills-based virtuoso personality
Value Formal Education: Skills-based virtuosos like surgeons, engineers, and scientists generally have advanced degrees.
Commitment to Daily Practice: Skills-based virtuosos dedicate at least three to four hours daily to practicing their skill, engaging in:
Deliberate Practice: Repeating skills or subsets of skills to improve or maintain performance.
Analytical Practice: Practicing under the guidance of a coach or mentor who provides detailed feedback on their performance.
High Stress Tolerance: Skills-based virtuosos thrive under pressure, with their performance often improving in high-stress situations.
Innate Talent: Many skills-based virtuosos are born with unique talents they discover early in life and dedicate their lives to improving through daily practice, often having complementary talents they use in their profession.
Intense Concentration and Focus: Skills-based virtuosos can practice for long hours due to their remarkable concentration and focus, having highly disciplined minds.
Highly Competitive: Skills-based virtuosos thrive in competitive environments, driven by a “winner takes all” mentality and the pursuit of excellence.
Creativity: Skills-based virtuosos are creative, allowing them to develop new and unique skills in their fields.
Dreamer entrepreneur personality
High Risk Tolerance: Entrepreneurs are willing to take risks that most people would avoid, developing this daring nature through calculated, well-thought-out risks. By successfully surviving previous risks, they gain valuable knowledge and insight into what works and what doesn’t, boosting their self-confidence.
Highly Competitive: Entrepreneurs thrive in competitive environments, driven by a “winner takes all” mentality and the pursuit of success.
High Stress Tolerance: Entrepreneurs have an innate or highly developed ability to endure high levels of stress.
Strong Work Ethic: Entrepreneurs are willing to work long hours in pursuit of their dreams, prioritizing work over family and friends, fully dedicating themselves to their vision. Work comes first for entrepreneurs.
Multitasking Ability: Entrepreneurs have an innate or highly developed ability to handle multiple tasks simultaneously, efficiently switching between different tasks.
Creativity: Entrepreneurs are highly creative, allowing them to solve problems and overcome obstacles effectively, finding innovative solutions and exploring unique opportunities.
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