The qualities that make financially successful adults begin in childhood, according to the latest findings from a study that began 52 years ago.
Psychologists in New Zealand have tracked 1,000 kids from the city of Dunedin since 1972 to discover the childhood factors with the greatest impact on how they develop into adults.
The best predictors of success in adulthood had little to do with academics, networking or work ethic. Rather, researchers found that participants who grew up to be the most successful adults were more self-possessed than their peers while growing up, showing high levels of discipline and emotional intelligence as children.
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Researchers refer to this measure as their “emotional quotient” (EQ). Those with a high EQ tend to show more empathy, have a more positive outlook on life, make more informed decisions and are more comfortable admitting they’re wrong.