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What's Your Investment Personality?

Answering these questions to help your advisor understand your financial personaility and create a customized strategy for pursuing all of your goals

WHY DO YOU INVEST FOR RETIREMENT? So that you won't be a burden to your children? To be able to travel the world? To leave a meaningful legacy? Or all three?

"Not only does focusing on goals make you more purposeful with your investments, it may make you better at setting priorities and deciding what trade-offs you need to make," says Michael Liersch, head of behavioral finance and goals-based consulting for Merrill Lynch Wealth Management. Understanding how emotions may influence investment decisions can also lead to more productive conversations with your advisor about the meaning of risk as it relates to your retirement strategy.

That's the idea behind the Merrill Lynch Investment Personality Assessment, which gauges your mindset (thoughts on risk); your approach (finding strategies that fit your mindset); and your purpose (a clear understanding of what you hope to achieve). Speak with your advisor about taking the full 27-question assessment. In the meantime, consider what your reactions to the following three statements may reveal about you. Select how strongly you agree or disagree:

For each statement below, do you Strongly disagree | Disagree | Agree | Strongly agree


3 Questions to Ask Your Advisor

  1. How can I arrange to take the Investment Personality Assessment?
  2. What if my spouse and I have very different investment personalities?
  3. I'm very risk-averse. Are there still ways I can meet my investing goals?

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