How Openness Personality Affects Financial Planning and Investment Decision Making

Those involved in financial planning start their client meetings initially with discussions
of what goals they have with the money, the attitudes and the extent to which they can tolerate
the risk. The reason for this is that the investors are different in their opinions. There are five
traits that open people who influence financial planning have. The first trait is that these people
are imaginative. The experience of openness is closely related to transparency and creativity. The
investors who take the aspect of technological products and the services have the likelihood to be
open individuals.
Open People are adventurous, and they try to explore new ideas as well as interests.
These investors will make choices of ideas and the adventures which link to the ideas that they
have. The open investors are also knowledgeable, and they will do a thorough search to find any
information that is sufficient. These investors are social and have social emotions which are very
healthy. The investors with the trait of openness have two strengths. First is flexibility and the
second one is high-quality life. These investors also have two weaknesses that are impulsivity
and secondly being prone to disorders.
This article is very relevant to those individuals who are interested in getting into the
business world. There is so much competition in the business world that only creativity can bail

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an investor out. The traits of an open investor are desirable, and every interested business person
should desire to have these traits. However these people also have their weaknesses and therefore
as one wants to possess these principles, he or she should also learn the various ways by which
he or she can deal with these weaknesses. All in all the openness trait is a treasure.

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Works Cited

Cheng, Marguerita. "How Openness Personality Affects Financial Planning and Investment
Decision Making." Forbes, 3 Oct. 2018,
www.forbes.com/sites/margueritacheng/2018/10/04/how-openness-personality-affects-
financial-planning-and-investment-decision-making/?ss=wealth-
management#1e26bd4f7f39.