Personal finance: 5 stars or below is a personal finance success story, but there’s another reason why the persona 5 star is the most valuable asset you can own: You’re the most likely to sell it.
“Personal finance has this incredible advantage that once it’s five-star, the people who get the most value are the people that buy the most,” says Scott Kappler, author of the new book, “Personas: A Guide to the 7-Star Personal Finance Success Story.”
In his new book for the Financial Times, Kapplers personal finance series “Persona 5,” he tells us how to identify the people with the most opportunity to make money from your personal finance successes.
“They’re the people whose persona 5’s the most popular and who are going to get value for their money in the next five years,” he says.
“So they have a big incentive to make sure that their persona 5 has a five-year growth curve, which makes it the best investment they can make.”
But it doesn’t stop there.
Kappels book includes the tips you need to buy a “persona 5” if you’re just starting out.
If you already have an “expert” persona 5, consider this: It’s likely to have a higher rate of returns than an “initiator” persona, which is the least popular of the three.
“If you want to make a really good money decision with your initial persona 5 investment, go for the ‘initiate’ persona,” says Kappelman.
“The ‘inferior’ persona will have a longer, more expensive life.”
If you’re still thinking about buying a persona 5 or the one with the lowest rate of return, consider these: “The better your personality, the better the return,” says Michael Osterholm, author and founder of the personal finance website Ostermy.com.
The better the personality, Oster says, the more likely you are to make good returns.
“When you start your career, you’re not likely to get a good return on your investment,” Ostermys blog.
“Your investment will get you into the middle class, but it will probably take you to the bottom of the economic pyramid.
If the returns are lower, you’ll probably go to a more stable position.”
“The person with the best reputation can make the most money in five years, and the person with bad reputation will probably make less,” says Oster.
If it sounds too good to be true, it probably is: A 2014 report by the Federal Reserve Bank of St. Louis said that “investors should be wary of investing in personal finance, given the risks associated with the investment.”
“In the long run, the market for personal finance stocks will fall.
But that’s not necessarily bad news,” Oestermys says.
So if you want your money back after your personal finances fail, don’t go for a persona with a low rate of growth.
“As long as you’re willing to wait a few years, you should probably just get the low-risk, high-reward strategy,” he adds.
You’re also better off picking a “personal finance” persona that has a higher level of risk than the average person, Oesterholm says.
But if you are looking to make the best money of your life, the following are some advice to consider.
“It’s best to be patient and wait a while before committing to an investment,” he recommends.
“You can’t get much better than a high-risk investment, so wait until you’re confident that the market is trending in your favor.”
Keep in mind that “personas have a lifespan of 5 to 10 years,” says J.P. Morgan Chase.
“I would strongly recommend sticking with an average person who is going to be making a decent income for the foreseeable future, but not a very high-growth individual,” he explains.
“That would give you a very good starting point to make your portfolio work.”
So be patient.
“A long-term investment should be your best option, but patience is important,” says Lyle Oestermans personal finance partner.
“In order to maximize your returns, you need time to think about the risks of the investments you’re making and the market.
If something happens that’s unexpected and unexpected risk is high, you might want to delay your investment.”
Keep an eye on your portfolio.
The most important thing to keep in mind is that your portfolio is not like an individual stock portfolio, which needs to be invested as soon as possible.
“Put a limit on how much you’re going to put in each year,” says Jason Cramer, president of Cramer Wealth Management.
“Make sure that you’re using the right kind of money.
There’s no point investing in a portfolio that’s going to have too many risks in it.”
For example, if you have