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March 6, 2018

The saying “different strokes for different folks” also applies to the world of money management. People’s approaches to handling money and their investments vary based upon numerous personality factors. These factors range from overeagerness to shying away from the subject, de facto.

We have divided money management personalities into five classes: Bystanders, Spectators, Players, Seekers and Mavericks. Here, we will discuss what defines each class. We will also look at how hungry they are for information, how they leverage it, and what their positive and negative opinions are relating to investment in general.


Bystanders tend to have long-term savings, yet they do not take part in the investment game and do not consider entering it any time soon.

Long-term goals are at the center of the majority of bystanders’ focal point; in general, they have a conservatively planned financial-management policy for their households. This group is generally risk averse and has a negative outlook on investing, as they are afraid of losing money.

Most bystanders are not knowledgeable about financial/investment services and products. In addition, they are less inclined to conduct research or utilize online information to assist in their financial decision-making. To summarize, this segment is out of tune with the goings on in the world of investment and prefers to remain shut out.


Spectators are savers, yet they are motivated by specific goals rather than by long-term goals. They are interested in making investments, however, practically speaking, most will not get around to actively pursuing a venture.

The majority of American spectators are dedicated to saving for specific aims and are ultra conservative when it comes to spending. A lot of them foster the belief that they should be making investments. However, few take the actual leap of faith.

Their will to engage in any endeavors is also hindered by a lack of effort to seek advice on the subject from knowledgeable sources. This goes against the belief of the majority of spectators that they should be doing a lot more with their money to provide for them in the future. One in two American spectators have started to set aside money for their retirement. The rest are left to worry that they are not doing enough for the long term.


The player class is willing to undertake risk in order to acquire higher rates of return. They save and make investments without a specified long-term action plan.

Players are more tech-savvy than the previous two personality types, and the majority seek online assistance and information relating to investment. In general, this personality type wishes to partake in investing rather than letting the money sit stagnant in their bank accounts. This is because there is a motivating factor that they need to find a solution to outliving their assets.

Even though most players are well aware that they do not follow a strict investment strategy, most of them will not conduct the required investment reviews to ascertain the success rate of their investment portfolios. With 25% of player portfolios in cash, there is an overall confidence that the correct tactical choices are being made. However, there is dissonance present in relation to actualizing a real long-term plan that will work.


The seeker personality type is well aware of making savings and investments. However, their lack of confidence and knowledge hinders their overall investment performance and progress. They are constantly seeking the advice of their peers and advisors to set them on the right course.

Most of the seekers will not make a move towards any investment without getting the go ahead from a perceived authority on the matter. Almost half of them will have a set retirement plan in mind and will make the regular monthly contributions towards achieving this goal, as they fear not having enough money when reaching retirement.

Ironically, the majority do not actually have a formalized financial plan in hand relating to investments, which will affect their future. The absence of the tools to compile such a plan and poor investment knowledge will motivate this group to acquire professional advice time and time again. Despite this fact, many of the seekers will still have 25% of their portfolios in cash.


Mavericks have a deep understanding and confidence about saving and investing. They have formalized well-thought-out plans for the future.

The maverick is an optimistic investor and implements conducive financial planning for the long term. They feel knowledgeable about diversifying their investments across a range of asset classes to ensure a sizeable income to outlast their retirement days. They tend to base their investments on both the sound financial advice of industry professionals and self-learning, backing it up with their own due diligence on deals.

Investment as a Means to an End

Most Americans recognize that investments can improve one’s ability to reach future financial goals. However, the concept of investment scares many of them from taking the needed steps to secure brighter futures. A lack of investment education and long-term financial planning in the majority of households forms a formidable obstacle in the minds of many. However, there is no real barrier to entry. Acquiring the relevant tools and advice from experts is readily available. Moreover, pursuing this information will provide a higher sense of control, enabling the average American to undertake investments responsibly and with guidance.

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