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Latest News & Thinking
Financial behaviors, wealth attitudes, and the science of predicting wealth.
Financial Success & A Mindset of Control
Imagine this: it’s the day after Halloween, and you are about to enter your local big-box store retailer. EVERYTHING about the store flashes “SALE!” Who or what is in control of your actions in this situation? Let’s consider two different mindsets and possible outcomes related to how we might approach our shopping trip in this scenario: Mindset 1: I can positively affect the wealth my household accumulates. Potential Outcome: I will shop and spend in[…]
Great Investors: Competencies for Success White Paper
What does it take to be a great investor today? If you consider yourself the manager of your household’s finances, or if you’re a financial advisor that believes behavioral coaching and guidance can help clients be financially successful, then you will want to take a look at our latest white paper, Understanding Great Investors: The Competencies of Investing Success. The white paper, which shares the findings from one of our latest studies on investors in the mass[…]
What’s the Difference Between a 17% and 7% Savings Rate?
Our data consistently tells us that in the arena of personal-finance outcomes, behaviors matter. They matter a lot. So we thought it was time to try and quantify—from a dollars and net-worth perspective—exactly how much is “a lot.” We have talked here before about the difference in savings rates between “high-potential” individuals and “low-potential” individuals, as measured by scores on the DataPoints Building Wealth assessment. As a quick refresher, Building Wealth measures behaviors and attitudes in[…]
Planning & Monitoring: The Obvious Wealth Factor We Love to Ignore
In pop psychology and social media, there seems to be more interest in money personality than in financial behaviors when it comes to talking about the things that will have the greatest impact on how successful we are at accumulating wealth. Who doesn’t love a one-question quiz that asks you about your favorite color and then gives you a report telling you you’re a terrible investor because you like magenta? Tests like the Myers-Briggs Type Indicator[…]
Behaviors drive wealth
Behavioral change is the next frontier of financial planning.
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