Never Retire - How Your Personality Can Impact Retirement Well-Being
Conscientiousness, extraversion, openness, neuroticism, and agreeableness
You can’t separate your psychological attributes and personality traits from how you manage your personal finance—from budgeting to retirement planning to when, where, why, and how often you work.
This is the main reason why most money advice stinks.
Because the people who float it define it as advice in the first place. You can’t give advice unless you really know the person you’re giving it to.
The most useful personal finance content comes from our peers who write about their experience(s).
Throw in some objective definitions. Tell us, in the aggregate, how different groups of people view money.
We can take it from there, crafting strategies that suit our unique needs, wants, preferences, and most important, personalities.
This is why the research article we summarize in today’s installment of the Never Retire newsletter resonated.
Just published in the peer-reviewed online journal, PLOS One, Leaving the labor market: Exit routes, personality traits and well-being, looks at how the following personality traits can impact your retirement experience:
Conscientiousness
Extraversion
Openness
Neuroticism
Agreeableness