On The Agenda:

People in certain professions tend to approach financial planning the same way as their peers. On today’s How Money Works podcast, we look at Financial Planning Personalities by Profession.

In our experience, people in certain jobs tend to approach financial planning the same way. On today’s episode of How Money Works, we explain some of the positives and challenges of advising people in different professions.

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Episode Show Notes:


First, we look at teachers.  Teachers have pensions that are pretty reliable, and they tend to be interested in having rental properties for extra income. They like investments they can have more control over, but they don’t try to dig in and micromanage everything when it comes to financial planning.

“Most of those folks are pretty risk-averse. They don’t want to be in a big volatile investment portfolio type strategy,” said Craig.


Second, there are Doctors.  “How nice can I be here?” said Craig. “Doctors sometimes suffer from what I call competency extrapolation.”

In other words, just because you’re a brilliant doctor doesn’t mean you can translate that knowledge to everything else, including financial planning. Doctors also tend to be busy people who don’t always make appointments.

“Working with them is a beautiful thing once they get the fact that we’re there to help them,” said Craig.


“Most of the guys in my industry do not like you guys, engineers,” said Craig. “They’re afraid of you.”

We work with a lot of engineers, and they love to analyze financial data. They want to know how the clock is made, not just what time it is.

“It’s fun to sit down with someone who will ask a lot of questions,” said Craig. “It’s fun to say, ‘Here is the why behind the what.’”


Realtors end up with a lot of their net worth in real estate, because it’s a subject they know. But they have to be careful not to get segmented so heavily in real estate that they sacrifice liquidity and growth in other areas. Real estate isn’t always going to go up.

Entrepreneur/small business owners

Business owners tend to put everything they have into the business and don’t always think of an exit strategy. They need to sock money into different places, such as retirement accounts and insurance.

Government employees

Finally, are government employees who have wonderful pensions.  However, they still need to have a full-fledged plan for their financial future. As a group, they tend to be pretty conservative.

Listen to the full episode discussing financial planning personalities by profession or use the timestamps below to jump to a specific segment. Thanks for listening!

Important Points:

0:54 – Teachers

2:17 – Doctors

5:17 – Engineers

6:51 – Realtors

7:53 – Entrepreneur/small business owners

9:33 – Government employees

10:41 – Contact Maestro Wealth

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