These are the personality traits that self-made millionaires share

Personality is something that can be changed throughout life, so anyone can truly approach the traits that define successful people in business. Photo: Getty Images.

Is the private personality of the wealthy a result or a contributing factor to their wealth? There are many similarities between those who inherited their fortune and those who grew it from scratch, but there are also some fundamental differences.

A study recently published in the scientific journal naturefrom the United Kingdom, captures the long-running debate about how wealth and derived structures (eg, social class and status) shape personality traits, goals, values, and behaviours.

The belief that the inheritance of wealth can shape the character of many people is not new, but how does the mind of those who intend to accumulate wealth on their own initiative through entrepreneurship work?

Everything indicates that this last type of rich is rich because they have personality traits associated with the desire to do so that helped them make their way in life.

To understand how the study is conducted, it is necessary to know the so-called “Big Five” (Big Five) personality traits developed by scientists: neuroticismtendency to anxiety / nervousness; The extroversionTendency to be active/social Owns openness to experienceor be creative/curious; The kindnessbe friendly/compassionate; and the consistencyBe organized / persevere.

To these categories the search decided to add take risksan adjective that has historically been linked to “many life outcomes and successful financial behaviors,” according to the Nature article.

Good Millionaire Character

Surveys indicate More than half of Americans attach a lot or some importance to wealth. How should these would-be millionaires pursue their goal?

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Yes good There are certain skills that never hurtLike access to high-demand technology or financial knowledge, the report suggests, it is not unreasonable to study the personal habits of those who have already achieved this goal.

In our data, self-made millionaires (self made) closely followed the personality traits of the already wealthy, and the more they did, the richer they became.

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These are the personality traits that self-made millionaires share.  Photo: Getty Images

These are the personality traits that self-made millionaires share. Photo: Getty Images

Where are the millionaires? self made at 5 big

The team that conducted this research, based in Germany, reviewed detailed survey data on more than 20,000 of your citizens, looking specifically at individual net worth and how they scored in the Big Five ratings, the only scientifically validated framework for assessing personality.

The team found that affluent participants [aquellos con un patrimonio neto individual de más de un millón de euros] They had a different profile than the other participants: they tended to be More risk taking, more open, open and conscientious, but less nervous‘, says the study.

Wealthy respondents were also ‘somewhat less accepting’, but this turned out to be not statistically significant.

This personality of high extraversion, consistency, openness, risk tolerance and emotional stability was higher among self-made millionaires than among those who inherited their money. Hence the study suggests, but does not prove, that these traits lead to wealth rather than that wealth drives people to develop it.

The fact that this type of personality was also somewhat more common among the self-employed who were still not wealthy bolsters the argument that it drives the kind of entrepreneurship that is more likely to create wealth.

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Your character is yours to shape

The results may not come as a huge surprise. If a person is incompatible with what he is doing, he is unlikely to make money.

It’s also no secret that being social helps you move on, because the business world works on connections. Likewise, not being afraid of innovation is closely related to creativity and intelligence.

While there is certainly a strong genetic component to personality, science shows that personality can change dramatically throughout our lives, in response to an individual’s demands.

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