These are the names you should consider if you want your child to grow up financially successful
Parents who want their children to grow up financially successful should call them Andrew or Anna, new research has revealed.
Other names likely to give your kids a promising financial future are Sam and Christopher for boys, while names like Maria and Laura are good choices for girls.
However, if you want your child to grow up to be savvy with money, avoid Ali, Rob and Dan for boys – or Karen, Claire and Lisa for girls.
Database of 12 million
The research comes from investment platform eToro, which analysed its database of 12 million users to reveal which names have achieved the best and worst investment returns over the past 12 months.
While Oliver was the most popular choice for baby boys last year, according to the Office of National Statistics, parents expecting a little boy might want to consider something else - the name appeared in the top 10 for investment returns in 2015 but has since failed to make an appearance.
But Olivia, which was the most common name for girls in the UK last year, is still worth considering as women with the name achieved the best returns in 2019.
Iqbal V. Gandham, managing director of eToro UK, said: "William Shakespeare once wrote ‘what’s in a name?’. Quite a lot, it seems, if you want your children to grow up to be financially savvy and secure.
“A name is not just something you use to distinguish yourself from others, it also affects the way others see you.
“There has been a raft of research done over the years showing a very strong link between what you call your child and their future success.
“So, it could quite literally pay dividends so take your time when choosing.”
Most financially savvy names
eToro’s data also reveals the most financially savvy names going back as far as 2012, with Matt and Graham appearing in multiple years.
Girls' names don’t fare quite so well, with Ali appearing among the least successful investors in two separate years.
The findings provide fresh evidence that what you call your children can have a big bearing on their futures.
In 2012, researchers from the University of Melbourne, the University of Leuven and New York University found that people with easy-to-pronounce names tend to hold more senior positions at work.
Separately, a 2008 study by Marquette University, in the US, found that those with more common names were more likely to be hired for a role than those whose names were more unique.
A very definite link
eToro’s Gandham added: “The data reveals a very definite link between certain types of names and success investing in the stock market.
“Other studies have shown that the way people react to you can vary depending on what your name is.
“It could well be that people perceive those with certain names as being good with money and others not so good - just as research shows that people with certain names are more likeable or hireable.
“Therefore, if people constantly perceive you as being rational and calm – two key traits often found in good investors - then it may well affect your behaviour eventually.
“Of course, everybody is different, and it is dangerous to make sweeping generalisations, but it is worth giving some serious thought as to what you call your child. They may well thank you for it in the future.”
Top 2020 boys' names for investment returns:
1. Andrew2. Sam3. Alex4. Christopher5. Darren
Worst 2020 boys' names for investment returns:
1. Ali2. Rob3. Dan4. Chris5. Dominic
Top 2020 girls' names for investment returns:
1. Anna2. Maria3. Laura4. Helen5. Sarah
Worst 2020 girls' names for investment returns:
1. Karen2. Claire3. Lisa4. Jennifer5. Rachel