“Personality traits have been tested to both short-range and long-range investment objectives by giving particular consideration to the personality classification.” (Mayfield, Perdue, and Wooten, 2008).
Financial literacy is a strong determinant in the discourse of one’s relationship between asset management and personality type, it is inseparable. Personality relates to an individual’s relatively stable feelings, behavioral patterns and thoughts.
Everyone has unique talents and gifts which often acts as strengths, but sometimes if these strengths are not properly managed they could turn out as weaknesses and further affect our assets due to the kind of decisions we make. While some people get better at their asset management as they grow older, others make worse decisions at the later stages of their lives.
Understanding your personality is a way to improve your relationship with asset management.
This article groups personalities into three centers of intelligence; gut, head and heart. Each of these personality types have distinct ways of seeing the world and an underlying motivation that powerfully influences how that type behaves, thinks and feels.
The guts personality types tend to demand authority and respect, they are instinctive and want to be in control. To put it bluntly, the guts type does not like being told what to do, they like to make decisions and be in charge, and they are good at it.
Driven by perfection, they seek the highest potential in everything they do. They are willing to put a lot of energy into achieving their goals, but under stress they nitpick. Their quest for perfection causes damaging delays.
If your personality type falls under this type, your relationship asset management can be said to be very determined. You are most likely to have a lot of forward momentum and determination to get the best out of your assets.
Being in charge of every detail of your assets is a familiar role for the gut type personality. However, this personality type must know when to allow other people to get involve in their asset management, to avoid delay and other circumstances which may be as a result of over zealousness.
The heart personality types are strictly driven by how other people perceive them. They are about what impressions their decisions will have on other people. This personality type drives a quest for team feedback and team achievement. Bad news? They can be driven by appearances instead of results.
Heart personality types are likely to have very slippery asset management skills if they do not seek professional advice. Judging your assets and taking huge decisions with your heart is not so great a management skill, not all assets seem as they appear, certain risk must be considered, one that cannot be determined by hearty personalities.
Although very likely to run into trouble when under immense stress, this personality types are success driven and goal-oriented, they are also creative and see aesthetic in variety, not just the mundane ways of getting things done.
Last on our list are the head personality types, they are futuristic, highly driven by navigation on what will happen in their future. Let us term their slogan; “a better tomorrow”. They always want to be a step or more ready for what is ahead, so they always try to play out future scenarios in their heads.
They are similar to the guts type in terms of preparedness and their quest for perfection. Some have argued that their attitude is born out of a fear of what the future holds, instead of taking life one step at a time.
The head personality is a dicey one that requires proper management as it regards to assets. Their ability to predict their future is not always accurate and when this attitude is applied to their asset management, chances that they succeed or not is half-and-half.
They like having a ton of data, reading not only the full reports but the footnotes and references too on every project. This could be a very beneficial detail for their relationship with their assets. They also have a contagious energy and see opportunities everywhere.
You did be excited already if you just found out that your personality type is the head type, however, every personality type is unique, success and failure of it depends on how it is managed which goes a long way in determining how your relationship with your asset will be.
Personality types say a lot about your relationship with your asset management, understanding your personality and finding the right methodology to get the best out of it is what determines a great outcome.
We have many personality sides but tend to dwell more on one than the others.
Emotions drive decision-making, decisions that mold your asset management.