You're all about relationships and having a professional partner to help guide you along the way. You value someone who will help steer you in the right direction and to ultimately help make the final decision. You live your life with a plan in mind and are generally optimistic about the future.
Saving for retirement is top priority
Value relationships with your financial representative
Feel secure with finances
Your Life Has a Plan, But Your Finances May Not
Although you're not likely to have a long-term financial plan, you do generally care about your finances. That being said, you save money out of each paycheck and track your expenses. You’re also likely to review your financial situation at least once every year. You’re knowledgeable about finances, and you’re working toward saving money for your future, though your plan may not be documented. You may pass up those things you’d really like to buy now because retirement is likely a number one financial priority for you. A close second would be leaving enough money for your partner to live comfortably.
Relationships Are Your Key to Finances
Relationships are your comfort in financial planning. The majority of Advice Seekers have already hired a financial representative and are working with them to allocate portfolios or choose investment products. You’re probably pretty confident in your ability to set some of your financial goals on your own, but leaning on a financial representative may make you feel more comfortable when saving for retirement or leaving a legacy to loved ones.
If you haven’t teamed up with a financial representative yet, no need to worry. It's never too late, and there are plenty of ways to find the right person.
You’re driven to pay attention to your finances because you want to feel secure and make intelligent financial decisions. You also want to be financially independent and free. Of course, you want to make a great return on your investment and feel like you are constantly making progress toward your financial goals. You may have been motivated to make a purchase if you’re getting a bit older or concerned about outliving the money you have.
Research study conducted in 2018 by Western & Southern Financial Group. Quantitative and qualitative study of financial attitudes of the U.S. within ages 25-70; $40K+ household income; and openness to financial products. Six categories emerged based upon cluster analysis of a variety of attitudes regarding financial motivations. An algorithm guides the placement of participants into a segment based upon answers to the key differentiating data points.
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